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You Know Your Marketing, but do You Really KNOW Your Market?

I'm a big fan of putting the power of targeting in the hands of the dealer. We're not one of those who believe that we know best about our clients' market, demographics, and customers and we try to put our expertise in social and search to play with their understanding of the area and their business to guide us to success.

The improved sourcing, data collection, and extraction of information about the markets gives us and dealers the ability to dive much deeper than ever before into understanding where and how to market.

We know the tactics. You know your area. Now, let's allow the data to enter the mix and we should have a winning combination.

We're starting to get pretty enamored with companies like String Automotive. After sitting on a few customer calls during their market analysis meetings, we've learned so much about how to spend the money and where to focus it. It has opened my eyes to this "third wheel" in a way that I never imagined. Perhaps there is more to data than just what we know mixed with what our clients' know.

Keep in mind, we are not a reseller for String Automotive and I don't want this to turn into a love fest, but I do want to highlight the importance of going much further into the numbers than I've ever imagined. That's the beauty of analytics mixed with DMS data mixed with everything else at our disposal (Polk, Experian, DMV - the data sources go on and on).

Regardless of whether you use us, String, or any vendor out there, I strongly encourage you to start going further with the numbers. For example, by cross-referencing your advertising spend by zip code with your own buyer data and comparing that to DMV data, you can see where the opportunities lie. Let's say you sold 5 Altimas last month in a zip code. This might sound great for some dealers, but what if there were 13 total sold last month based upon DMV data and you're the closest dealership to the zip code. Wouldn't that be disappointing? Shouldn't you either adjust your marketing message, your advertising styles, or your budget to try to make up the difference and start dominating in that area?

The data is cleaner than it's ever been, but the methods of analyzing the data have remained stagnant. It's companies like String that have opened our eyes to the possibility that we can make smarter decisions by letting the numbers guide us.

Views: 166

Tags: Analytics, Demographics, String Automotive

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Comment by Amy Eddins Hughes on September 22, 2014 at 4:53am

Manny, depending on which specific overlay and correlation of data you are curious about, I may be able to provide more color and answer your question more specifically. Feel free to reach out to me directly for a quick conversation. However, any dealer in any market, regardless of size can subscribe and utilize the platform. We currently do not limit subscriptions by market exclusivity or make. However, some of our String Certified Consultants do make exclusive partnerships with dealers at the DMA level, as the action they help dealers take and they strategies they create as a result of the intelligence they glean in the platform, would be confidential and proprietary in nature.


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Comment by Amy Eddins Hughes on September 19, 2014 at 1:00pm

Thank you, JD. High praise. The dealer that we share recently said that he looks forward to the String market guidance call all month. It's a team effort. When a dealer who is strategically minded, displays the leadership to rally his vendors around data, ask the right questions, and is willing to give credit where credit is due, great things happen. Thank you for your contribution to the collaboration.

I hope you've met Julie! A great addition to the team. 

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