Are You Making Any of These Costly Sales and Marketing Mistakes?
Here at the Rich Dealers Institute, we're constantly talking to dealers and managers from across the country and throughout Canada. Our phones are inundated with dealers desperately seeking sound advice so they don't make costly marketing mistakes.
In this article we will shine some light on two of the most common sales and marketing mistakes. Read on, and you'll have the information you need to make better decisions and save yourself a lot time, energy, frustration, and cash.
Spray and Pray Marketing
Most dealers are doing what we call "spray and pray" marketing. They spray a little bit of marketing in a lot of different places and pray something works. Generally, something does work, but no one is really sure what worked or why. So we just keep repeating the ugly cycle that contains a huge amount of waste. This waste leads to frustration and a general malaise about marketing.
The secret here is simple, but not easy. Dominate one media first and once you’ve done that, add additional media. The question is: Which one do you start with? That's easy, the one that gives you the best ROI. Fight the urge (it will be very strong) to move on to other kinds of media until you've completely dominated the one you are in.
High Tech Hypnosis
Talk about a trend that's sweeping the nation; the online/digital marketing craze is in full effect. If it's tech, it's hot, especially in the automotive industry. In general, however, the majority of the dealers we work with are not technology experts, but they fear being left behind on the next big opportunity. Dealers are hypnotized by the allure of the bright, shiny, new internet. This is a dangerous situation and it is being exploited big time. Just because it has an “e”, “i” or “2.0” in the name doesn't make it a profitable place to spend your marketing dollars.
There's a reason why some media have been around forever. They're proven winners. They're reliable. Some things on the internet are viable marketing channels that are good for a dealership and your net profit. Others are effective, but not necessarily good for you, and many just plain stink.
The internet is a great tool for consumers to shop for the lowest price on a commodity and compare options and prices at their leisure with no pressure. It's completely logical, but sales aren't made logically. Selling a car is emotional and a dealership doesn't just sell cars, they should provide so much more.
Our dealers work hard to provide their customers with truly valuable services, experiences, and provide solutions that transcend just selling them a car at a cheap price. Don't get caught up in the excitement of the digital movement. Let each opportunity prove itself. Remember, the Dominate principle we talked about earlier still holds true when it comes to the internet.
The internet is just another media outlet to be leveraged for profit. It's not a reinvention of the industry, it's a tool to further a build the business you already have.
Jimmy Vee and Travis Miller are the nation’s leading experts on attracting customers, the co-authors of Gravitational Marketing: The Science of Attracting Customers and founders of The Rich Dealers Institute. To discover how your dealership can stand out and sell more without spending more sign up for a free Market Rater Market Analysis atwww.MarketRaterReport.com.