Making Marketing Decisions in A Tough Market
When I started to write this, my initial thought was to write about how dealers and the automotive industry are facing some upcoming challenges with inventory and inflation… but I stopped myself because in all reality the automotive industry and dealers in particular have been turned on their heads for the last 3 years. So I’m going to start with,
“Hold on to your hats. We’re in for another wild ride.”
With the rising competition in the automobile dealership industry, more and more car dealers are looking for new ways to retain their existing customers as well as gain new consumers. While there’s no denying the fact that keeping long-term relationships with customers can be a daunting task, dealers can still do it by learning more about their target audience. Fortunately, attribution solves this problem by enabling dealers to recognize their customer’s needs and perceptions easily. Attribution can not only help your dealership in identifying customers’ requirements but also in creating new marketing strategies.
Let’s find out what attribution is and how it can improve your dealership’s decision-making.
It seems like every month there is another change that creates challenges for dealerships. Here’s another that may affect you…
“Starting on January 30, 2023, Meta will no longer support the ability for all sellers to create vehicle listings using a Facebook business Page, along with the vehicles tab and manage inventory tab in markets where this feature is currently available.” This will impact the U.S. and Canada.
SO WHAT NOW?
Data is the buzzword right now, how to collect it, manage it, store it, and leverage it. Data Stacks, Data Lakes, First Party Data, Etcetera.
- Without data, you are just another person with an opinion
- Without an opinion, you’re just another person with data
That’s because data doesn’t have any intrinsic value on its own. It is useful only when it is interpreted correctly and used to create positive changes within your company.
Google has announced that Universal Analytics will be officially replaced on July 1st, 2023. GA4, the latest version of Google’s analytics platform and the eventual replacement for Universal Analytics has been available since October 2020 but has not been widely adopted. This new analytics platform is largely focused on visitor engagement and event tracking.
When Should You Start with GA4?
The short answer is now.
There’s a lot of lingo out there when it comes to digital marketing, especially in the automotive space.
At sMedia, we’ve run into a few scenarios where a vendor may be using a term like lead or conversion and it’s not totally clear as to what they’re referring to. We encourage our dealers and our team to clarify when they’re having conversations exactly what they mean, asking questions like “what are you counting as a lead?” and “what is a conversion in this report?”
Vendor reports sometimes only measure those things that the vendor requires for their product or service to perform well. We, therefore, think it’s essential for dealers to have a solid understanding of terms like conversions, leads and attribution mean so that you can have better conversations with your vendors and your sMedia Customer Success Manager.
Ready to learn? Read on.
We know that shoppers don’t make decisions in a straight line. They’re researching their purchase all over the internet, it’s likely that they’ll visit your website multiple times in addition to seeing your ads, reading reviews, doing multiple google searches as well as visiting 3rd party sites…
So how do you know which of your marketing influenced their purchase decision?
This week’s Behind the Wheel focuses on the impressive results dealerships have seen using sMedia’s simple and effective Smart Offer tool – to create a custom experience for potential buyers to convert more often.
79X ROI from a lead tool is an impressive result, to say the least! But before we jump into those numbers, let’s explain why the dealerships using this tool are so excited about it. We’ll break it down into four categories: Time, Planning, Versatility, and Control.
Every week on “Behind The Wheel” we look for an opportunity to provide some value to dealerships, and this week is all about real opportunity. Like how to reach new audiences with that all-important factor… money to spend. The Microsoft Network is a platform that allows you to advertise on Microsoft Edge, Microsoft Bing, MSN, Yahoo, DuckDuckGo, CBS Sports, Fox Business, and Outlook. (Some placements are not available to Canadian advertisers).
Commonly overlooked by automotive marketers, the Microsoft Network is more valuable than most think. Let’s dig into why this might be an opportunity to generate more conversions for less.
Microsoft Auto Ads are now available at sMedia!
Microsoft Auto Ads replace simple blue links with personal, visual, intuitive, and adaptive ads to create a better consumer experience for your shoppers. Show relevant inventory at every stage of the buyer’s journey on the Microsoft Network.
These inventory shopping ads get your vehicles in front of shoppers on Microsoft Edge, Microsoft Bing, Yahoo, and Duck Duck Go search engines, as well as ad placements on MSN, CBS Sports, Fox Business, and Outlook.