the retail process. In the process, we do not impose prices on dealers, we do not create false consumer expectations, and we do not break the law.""
And that's some of the important differences between Edmunds TMV and TrueCar...…
failure is merely the personal perception of achieving desired results. It is my philosophy to adjust expectations for realistic result and learn from both under-performance and over-achievement.
Consider my use of "fail" terminated...except in when used for irony.…
stic for smaller dealers and fast changing campaign requests.
Would individuals in this group see an advantage to providing samples of their work for dealers to preview?
Let me know what you think,
price or an MSRP-only price, and, like the credit cards in the Wikipedia definition, an overall focus on customer service and branding. I guess, if your customer service and branding is strong enough, you don't even have to show your prices, but up-front pricing is a great way to demonstrate that the free sharing of information will follow throughout the process of purchasing a car.…
arketing tool. If the salesperson is thinking "out of the box" and realizes that these networks offer new business, they will use them. Like anything else in this business, some things change and some remain the same. Social networking is an opportunity for "personal" branding and creating a business. Although we are on the selling floor and working for the dealership, it is realistically our own business we are building. Social networking is another opportunity to prospect and those doing it are essentially seeking new business. It's free advertising and anyone selling should be capitalizing on it.…
know the current financial crisis is a HUGE part of this, but we have a reputation in the market of being a "Get Me Done" store, and I have been tasked with getting the higher level clientele in. But, until that starts to happen, I have to work with what we have (and will continue to do so). Any advice and ideas of what realistic closing ratios should be are appreciated.…
new consumer focused "media" on the WWW. My recent post regarding my plan to monetize social networking through our new and improved Winked-In site evidences my conviction and planned direction, however, it is always nice to be able to support my own findings with third party research like the one that I included in this post.
I also have prioritized eMail marketing to an auto dealer's data base complimented by the ability to append their files to find new email addresses as well as through targeted conquest sales by using double opt-in email addresses organized by key vendors with an NCOA or ECOA certification to provide demographic, age, gender, zipcode and other filters to their email blasts. As a matter of fact I reviewed a new vendor today on my blog talk radio show - Lunch With Phil Discussing Automotive Advertising - that you may want to check out:
If you have any additional personal experience, third party data or even contradictory opinions of the increasing role of social networking or email please reply to this post since I am finalizing our Q4 budgets and media recommendations with increased social networking and email investments of time and money for our auto dealer clients and I would appreciate it if you would prevent me from doing anything stupid!
After all, what are friends for!
The research article can be seen at:
SocNets, Email at Top of 2010 Media-Buying List
Having a “presence on social networks” is one of the top priorities for marketers in 2010, with nearly six in 10 planning to include social-media spending in their next-year’s marketing budget, according to the “2010 Media Planning Intelligence Study” from the Center for Media Research, conducted with InsightExpress.
The number of marketers hoping or expecting to allocate dollars to social networks puts the medium second only to e-mail, the study found. Specifically, 57.7% of respondents “ideally” plan, and 56.3% “realistically” plan to include social media in their media plans next year.
Email marketing is still the #1 medium, cited by 56.8% of respondents as being a realistic part of their 2010 media plans. However, plans for investing in “non-traditional” media such as online, mobile and other emerging media platforms outweigh plans for more traditional media (TV, radio, print and out-of-home) by 57% to 43%.
Percentages of respondents saying they will invest in other forms of traditional and non-traditional media:
Additional study findings:
Those who plan, buy, approve media would ideally buy presence on a social network.
Nearly twice as many respondents would ideally buy mobile video than will realistically buy it.
Agencies and brands both would ideally buy more national TV than they will realistically buy.
Advertising with regional newspapers will be significantly larger than with national newspapers.
In terms of traditional media, there is relatively strong support for email marketing, magazines and radio advertising.
“We expect that the data and insights in the study can assist agencies and other media planners and buyers to make the case for particular media spending next year,” said Chuck Martin, director of the Center for Media Research.
A recent study by Alterian found a similar phenomenon in terms of the importance being placed on social media. Despite the acknowledgement by marketers that email provides the most measurable ROI, social media continues to receive a large portion of marketers’ attention because of its potential influence on consumers.
In another study that examined the complex relationship between email and social networks, The Nielsen Company found that the heaviest users of social networks also show increased email use, likely because of the multitude of “status update” messages that flood social networkers’ inboxes.
About the study: The study was conducted conducted between July 17 and Aug. 10, 2009 and is based on a survey of 1,972 MediaPost subscribers, including 1,164 who report that they have planning, buying, approving responsibility for 2010. The report covers more than 25 industries, and is available for purchase at the MediaPost website.…
keting strategies will actually produce for a dealership. Most dealers embrace realistic descriptions and seem to genuinely appreciate brutal honesty about what they are being asked to invest in, and what it is NOT. Which leads me to wonder... Just how effective are BULLSHIT sales claims like "dominate your market" and "this will sell more cars for you" and "we have the secret recipe, but wait, there's more!". I know there are some dealers who fall for the seductiveness of unrealistic claims, but is this diminishing over time as more people become knowledgeable about what digital marketing is, and what it is not?…
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