Sales Pipeline Efficiency – Data Analysis Meets Marketing Strategy
New car sales reached a global record high in 2013 (CNBC). This economic indicator, along with statistics showing continuing declines in unemployment, points to a strengthening economy. This is good news for car dealers. However, statistics also reveal that Americans now delay car replacement for as long as possible, with truck owners keeping their vehicles for more than ten years on average. So, while general economic trends and industry-specific data add up to promising average auto sales, dealerships in competitive markets remain in need of optimized sales pipeline efficiency to draw qualified in-market prospects. In such market environments, comparing the most successful dealerships to those still struggling for market share reflects the sizeable advantage of dealerships utilizing integrated marketing, strategic analysis, and guaranteed lead production resources. Let’s look at features of a successful strategic program.
- Digital advertising through website and SEO optimization is fundamental in the contemporary automobile marketplace. It’s the first stop for more than 90% of car shoppers comparing models and prices. A state-of-the-art website not only offers constant, first-rate exposure to dazzle prospective buyers—it serves as a highly productive extension of the dealership’s sales force. A high-end website provides prospects with an ideal introduction to the dealership’s inventory offerings, competitive prices, valuable services, and its team’s customer service attitude.
- Social media rounds-out today’s dealerships’ web image -showing it to be a business that understands the dynamics of the modern consumer marketplace and is directly engaged in communicating with its customers and prospects. Further, social media platforms are abundant data mines, producing some of the broadest ranging, most up-to-date and in-depth consumer information historically possible.
- Television currently dominates auto advertising ROI. Radio also remains a relatively strong outlet. And, customized print ads offer cost-efficient direct marketing media. With sophisticated technology and the passive quality of TV and radio entertainment, these media outlets present attractive resources for today’s busy prospects who, while relaxing, consume blocs of advertising.
In conjunction with these formidable marketing methods, experts in comprehensive marketing strategy and lead generation employ interactive media data from ultra-modern mobile apps, pay-per-click web ads, forums, traditional direct mailers, and time-tested personal referral programs.
- Top quality marketing design elevates the dealership’s public profile among competitors and casts a wide net for gathering information about in-market prospects.
- Efficiently generating and analyzing deeply detailed data regarding target-customer characteristics, through application of an extensive set of algorithms, is the pivotal task. Market data analysis and strategic planning must adeptly blend to consistently yield the greatest number of qualified sales leads.
- Finally, customizing marketing to prospect-specific approaches, dependent on the individual prospect’s history or lack of history with the dealership, is paramount in successfully establishing an ideal introductory relationship between the prospective customer and the sales team before the prospect ever visits the dealership.
Guaranteed lead production
Success in laying the groundwork for a marketing campaign is measured in the only truly meaningful marketing-program metric—its net results in producing leads that convert to sales. It follows that dealerships should only pay for targeted leads resulting in sales. Such an arrangement assures accountability of the marketing group for its initiatives. Dealership decision-makers should accept no less than such a win-win agreement for accountability.
At Client Command® we create sales for dealers on a pay-for-performance basis. By using 170 + algorithms and analytics our multi-channel automotive marketing excels in every way to bring buyers to your dealership. Contact us today for a complimentary demo.
2013 global record sales and U.S. sales statistics source CNBC quoting IHS Automotive consultants: http://www.cnbc.com/id/101321938#.