In 2015, Automotive Manufacturers represented 3 of the top 10 companies that spent the most on advertising with a total of $7.8 billion, and when combined was number one.
1. Procter & Gamble ($4.6 billion)
2. AT&T ($3.3 billion)
3. General Motors ($3.1 billion) General Motors
4. Comcast ($3 billion)
5. Verizon ($2.5 billion)
6. Ford ($2.5 billion)
7. American Express ($2.4 billion)
8. Fiat-Chrysler ($2.2 billion)
9. L’Oréal ($2.2 billion)
10. Walt Disney Company ($2.1 billion)
According to Borrell, in 2016 automotive advertising will be nearly a $40 billion category, up almost 10% from 2015. $22.1 (55%) billion was spent by local dealers. 63% was spent on Digital Media, 21% on Print and 12% on TV, Radio, and Cable.
Some of the most innovative data and technology driven creative marketing concepts and ideas come from Tier 1. But there’s a huge disconnect from the Tier 1 level to Tier 3.
Some local franchise dealers don’t know what marketing they are doing month-to-month. It’s subject to change on a whim, or on having a “bad month” which results in a knee-jerk reaction like “let’s pull all the PPC stuff and send out 50,000 direct mail pieces with jiggy prizes to get the toothless in the door”.
In my last article “Dealer Digital Warfare – Do You Have a Winning Strategy” I addressed the importance of having a digital strategy in place. Unlike most local retail businesses, we have the data and technology to effectively and efficiently develop a local winning marketing strategy. We can look at a dealers PMA, analyze DMS/CRM data, overlaid with over 18 other data sources and develop a highly sophisticated, targeted marketing plan. Based on the data, we know which zip codes have the greatest propensity to buy from you or your competition and can tailor your digital marketing plan accordingly (“fishing where the fish are”) – targeting shoppers that have an interest in your dealership, your brand. However, none of this matters unless you as a dealer embrace the strategy and stick to your plan.
So, moving into 2017, what should be your marketing priorities?
· Develop a mobile strategy. All digital campaigns should align with your mobile strategy.
· Be big somewhere. Pick 3 or 4 digital platforms and own them. It’s no different than in the days of traditional only when a dealer would dominate TV, Radio or Print, etc.
· Manage and Measure your campaigns by setting up conversion metrics in your Google Analytics account.
We recommend the following digital platforms in order of their importance:
· Targeted Pay Per Click – target and bid by zip code (our GeoForce platform allows you to target customers and bid by zip)
· GeoMobile Marketing (location based mobile) – we serve your ads to customers that are in your competitors showrooms and on their lots.
· Video – we develop a consistent video marketing strategy from YouTube to Video Pre-roll.
· Conquest Email Marketing – our email campaigns have the highest Open and CTR rates in the industry.
· Retargeting – give Auto Shoppers a second chance to see your offers through retargeting
· Display Advertising – we place ads on all of the major sites including, ESPN, CNN, Fox News and more.
· Social Boosting – only 5% of your post get seen on Facebook – we boost your posting and reach a specific target audience.
PLAN YOUR WORK AND WORK YOUR PLAN!
Does your dealership have a 2017 Digital Strategy? At AutomotiveOnly.com our Google Certified digital specialist can help you develop an effective and efficient marketing strategy. Our data and technology driven platforms can help you measure and managing your digital marketing and save you up to 30% on your current digital spend. Call us for a no-obligation digital evaluation at 800.591.5719.