Uncover the secrets of dealer success. Here's a guide to the bigger picture.
The new multitude of business data and online alternatives makes it rather tricky, even for professionals, to optimize your media spending. If you are attempting to do it on your own ... forget it! The new realities are way too complex to even consider a conventional Excel spreadsheet.
According to Tina Sadeghi, Head of Customer Success at Phyron AI: "Whether your objective is to scale your digital marketing, or simply get more bang for the digital buck, you need to look at the bigger picture."
THE BIGGER PICTURE
1. Your inventory — If you really want to make a difference on the bottom-line, you need to consider the sales performance for every single car in stock. Be it a hundred cars or 20,000 of them in a dozen locations. Every vehicle counts.
2. Your potential buyers – today you have better possibilities than ever to reach each one of them where they are. When THEY are ready to take a first step on their buying journeys.
3. Your ads — Honestly now ... in terms of impact and cost-efficiency, conventional dealer ads suck. They don’t stand out in media; they don’t address the buying motives of specific buyers in the first few seconds; they are visually bland and anonymous; they don’t build the dealer brand; and emotionally … they are as engaging as a can of beans.
4. Media buying — the world of auctioned media space is new. The fact that the odds for hitting the right car buyer are much better online than in traditional media is recognized by most people. But WHICH online media, and HOW?
5. The process — How many hours a week do you and your team spend creating, administrating, and publishing ads? How long does it take from photographing every incoming vehicle to displaying it where potential buyers can see them? How does all that time affect your total selling costs? What does efficiency and scale mean for your business? How often do you measure the LTV (Loan to Value Ratio) for a future-proof marketing strategy?
ANALYZING 500,000 ADS EVERY DAY
Tina Sadeghi again: "That’s your new reality. Now, let’s talk about what you can do about it. Let’s talk about Phyron AI and their real-time, real-dealers fact finding expedition … routinely gathering and analyzing data from some 500,000 online video ads every day. Solid insight based on the experience of 2,500 dealers in 25 countries every month of the year."
Now, rapidly approaching 2024 ... where do you go for solid reality-based media advice?
Let's uncover the secrets of dealer success.