ted as not only "must haves" but "must have, right now!" This puts pressure on you to find quick solutions and it could lead to solutions that are not optimal.
I encourage everyone to start every "must have" mission by doing some research and presenting back in writing an actionable plan that will tell your boss that you realize how important these "must haves" are, but you are going about achieving them in a carefully planned way. Don't be afraid to tell the boss that you want to do more research before firming up a time-line or choosing a vendor or even taking it on in-house. Look for articles and case studies from the web that are the same or similar to what you are trying to achieve and then present a realistic time-line, risks, costs, goals etc....
In the short-term you may have to sacrifice instant gratification for long-term job stability and successful goal completion.…
in time and that is why you don't see (or don't understand) the value of social media.
I also wanted to comment on this statement:
Facebook has about 140 million users in the U.S. (and declining). TV has well over 300 million users in the U.S. If numbers are the sole rationale, then TV would be the way to go.
I know your numbers are probably right but facebook advertising (at a minimum of $2 a day) is much more realistic (and accessible) that the production cost and price of spots on TV (that would run in the $100,000's) - so to me that comparison is a bit slanted.
to dealers to follow up with and hopefully sell a car to. Each dealer has to ability to know what Edmunds recomends as a True Market Value price, which btw in my over 20 years of this has never been BELOW invoice, and the dealership that does the best job of EARNING the consumers trust and showing them value usually gets the deal. ZAG does not operate this way. They broker car deals plain and simple. They give a consumers info to mutliple dealers while displaying to the consumer a price that ZAG has determined to be a 'Good Deal' using the dealerships info against them and then CHARGE the dealership for that individual sales, ie a BROKER FEE. Perhaps when being solicited to advertise on the ZAG site dealerships should ask to see what the actual cost to run their site is and then offer to run an ad for less than it costs to run the site. There are many sites that dont cost much at all so it should be realistic to advertise online for next to nothing right?…
utdated and ineffective. Most dealers convert on average under 10% of leads received.
Consumers are often misled in providing their contact information which is why salespeople are not enthusiastic about following up and why many leads go unanswered. The solution lies in how and where the lead is generated in the first place.
The next generation lead should:
Give the online car shopper more control of the buying process
Provide more transparency and convenience
Build consumer confidence
Set a more realistic buying expectation
Create a more positive buying experience
Focus on quality, not quantity
Convert customers at twice the current industry average rate
sition of telling a customer what he or she may not want to hear, i.e. in the example below, the average selling price of a new 2012 Camaro LS in Los Angeles is above MSRP, and a really "great price" is within $100 of invoice. At last, the Truth. But the Truth isn't as exciting as the fantasy was, and I suspect TrueCar has a whole new product to sell, only it appears to be no more informative than the Edmunds TMV. That's not great for TrueCar, who, now all of a sudden, are not bringing a unique information product to market. Hard to generalize from a sample of one, but our experience is that the "new" TrueCar has really cooled off, as far as a productive lead source, in its first full month of existence.
ove and policy repairs after sale (that have reduced dramatically as vehicles have improved). Only because proper practices were not put in place and followed to begin with. Retail recon is not as big an issue as hidden costs, like the other items Garry mentioned. The reality is your profit is made at the time the vehicle is purchased. Too many times I have witnessed, a higher ACV to “make the deal”, when the real issue is who is making that decision. I also understand, as business goes, we are asking for more sales from those less educated in making these decisions. Or, as one Dealer stated, “you get what you pay for with employees”. My thought on this is, good decisions are created at the top and those processes need to be stated and then inspect what you expect to be done. rwelsh@cimasystems.NET…
ttom line and not the overall value and package that you have to offer. My question is: Where do you draw the line when it comes to negotiating a realistic price on the internet. I work in Miami where there are 10+ Honda dealers competing. Now I am all for competition, however at the same time I don't feel that its right for a dealer to be making flat deals almost to the point of breaking even. What are your thoughts and what do you think are some possible solutions?
At the end of the day dealers are affected and sometime customers will receive the runaround just to get them through the door... Where do you draw the line?…
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.…
mployee gets $7,500 as long as they follow these three rules (1) they must actually go on vacation, (2) they must disconnect entirely, i.e. no phone calls, e-mails, texts, etc. and (3) they must not work at all while they are on vacation! Do you think you could live with that? Though the motivation was to attract good employees, I’m betting this gesture resonates with their customers too. One key to creating loyal customers is to create a “likeable” company, and this definitely helps to accomplish that. What have you done to make your company “likeable” and your employees happy? Maybe giving everyone $7,500 isn’t realistic, but what other ideas do you have that would create this type of publicly perceived goodwill?…
Added by Mike Gorun at 10:28am on September 11, 2012
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