the right marketing cocktail for your dealership and...
TRANSCRIPT
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Marketing MixologyThe right marketing cocktail for your
dealership and prospects
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Are we mixing the right set of messages – and media – for our dealership customers?
Today we are going to share some perspectives on how to get there…
The right marketing mix
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What is your marketing mix?
We all know that marketing and advertising mix is changing – with Internet advertising growth coming largely at the expense of newspaper spend…..
Total Automotive Advertising Expenditures by Segment
2006 2011
Newspapers25%
TV43% Radio
10%
Internet8%
Other14%
$13,242 $3,105
$2,320
$4,322$7,538
Newspapers19%
TV46% Radio
10%
Internet13%
Other12%
$15,554$3,159
$4,264
$4,051$6,185
Source: Borrell Associates, 2007. Includes both new and used car advertising. ($Millions)
8
Car dealership advertising mix
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Over 68% of consumers spend time and conduct research on the Internet prior to purchasing a new car(1) yet Internet share of dealer marketing wallet does not even come close to this.
We still have an unhealthy reliance on the newspapers…..
More consumers will utilize the Internet as a research source and it only makes sense that dealerships shift advertising spend to match up…
(1) J.D. Power and Associates. 9
Dealer Media Spend
Consumer Media Consumption
0%10%20%30%40%50%60%70%80%90%
100%
InternetTVRadioNewspaperOther
Source: Jupiter Research Library 2006, NADA.
Too Much?
Too Little?
What consumers are doing is not what dealers are buying…
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Activity in offline channels drives traffic online
Leading Media that Prompt Online Searches by US Consumers, 2007(% of respondents)
Note: n=15,439 ages 18+Source: BIGresearch, “Simultaneous Media Usage Study (SIMM) 10” as cited in press release, August 2, 2007
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Function Traditional Media
Projected Use Balance Online Equivalent
Awareness TVOutdoor
Display Ads,Sponsorships
Consideration MagazinesWord of Mouth
Review Sites, Research Sites,Brand Sites
Research MagazinesWord of Mouth
Review SitesSocial Networks
Promotions Radio Display Ads,Social Networks,In-market Websites
Shopping Newspaper In-market Websites,Online Classifieds
Leads Yellow Pages Dealer LocatorDealer Website
Trial Test Drive Virtual Tour
Owner Marketing Direct Mail Email
Offline and online will achieve a new equilibrium of use and marketing spend
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Be Everywhere: Beyond Just Search
A More Complete Advertising Solution
Television
Internet
Audio
Mobile
•Analytics
•Triggers
•Formats
Online is innovating offline:
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Dealers are all different
And so are consumers
Different messages and media will appeal at different points in the purchase funnel
So which media cocktail will work best?
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Introducing our cast
> RJ Woodring, General Sales ManagerWoody Buick Pontiac GMC
> Mike Hatfield, Sales DirectorDave Mungenast St. Louis Honda
> Bill Smith, Internet & Advertising ManagerDave Arbogast Buick Pontiac GMC
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Focus your mix on consumer purchase patterns with your business objectives in mind
The perfect media mix
Pre-selection filter• Build your dealership brand online
• Offline alone is too expensive now
Engagement filter• Drive revenue and results now
Purchase filter• Take care of your customers…the
internet has made it easy for them to talk to each other
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Build your dealership brand online
Why do it?
• Prep consumers to think of you when they become in market
• Tell them what your dealership stands for
• Develop positive dealership name recognition
• It’s way cheaper than offline advertising…
• No, don’t stop advertising offline, just balance your spend to bring down your cost per vehicle sold
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Build your dealership brand online
What to keep doing…
• TV - but keep branding messages consistent online
• Billboard - drive people to your website - not your URL - think keywords
What to do…
• Display advertising1. Maximum reach2. Retargeting3. Remarketing
• Have a relevant websiteLots of content to drive organic search
• YouTube
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Engage Consumers: New Ad Formats
Gadget Ad (game)
InVideo ad (Google Content Network )
InVideo ad (YouTube)
YouTube Brand Channel (contest module)
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That’s right…display ads and a relevant website
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Drive results now
Why do it?
• Revenue
• Capacity
• Revenue
• Capture highly-qualifiedhand raisers
• Revenue
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What to do…
• Buy 3rd party leadsThey work and are still way less expensive and
measurable than offline
• Paid search engine marketing
• Promos, specials and events - anything to drive sense of urgency
• Again, a relevant website but now focused on1. Calls-to-action2. Simple lead forms3. Specials to pull consumers into the showroom
Results now
What to keep doing…
• Radio and Newspaper focused on Specials and Promos – TV’s too expensive to be effective here
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Your manufacturer is running offline promotions that could drive traffic to your showroom - make sure it does.
Drive results now
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Drive results now
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Multivariate: Test multiple “Sections” of Your Page
??
Test a headlineTest an image
A “section” is any area of your page where you’d like to test alternative copy or creative
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Multivariate: Test Multiple Sections and Combinations
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Multivariate: Test Multiple Sections and Combinations
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Multivariate: Test Multiple Sections and Combinations
2 different headlinesx 3 different images = 6 possible combinations
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A/B: Or test whole pages
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Simple Results
Combination 57 is performing the best
Bars represent relative improvementOriginal is
highlighted here
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Why do it?
• You spent all that money to make them your customer…now leverage them to improve your gross margin
• Your existing customers will spend the most money on service, parts and their next car
Keep your customers
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What to do…
• Email Marketing to Owners – stop calling them during dinner
• Scheduled maintenance and promos to keep them coming back
• Email newsletters - keep them tied to your dealership through community information and events
• Offer to install car seats and do safety checks
• Social networks & Service Blogs
• One more time…a relevant website but now focused on1. The Entire Dealership2. Service and parts3. Info about owning and maintaining their
purchased vehicle
What to keep doing…
• Community Sponsorships
• Cable TV
• Radio for Service Offers
Keep your customers
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Stay in touch…email schedule maintenance and seasonal promotions
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Content Network: Social Networks
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Web Utilities: YouTube…Broadcast Yourself
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Web Utilities: Mobile Ads
Google Search Ads for Mobile
Search Ads on Partner Sites
Contextual Targeting for Mobile
Ads on Google mobile search results
Ads on search partner results
Google Ad Sense for Mobile Content
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Some of it is but not all of it.
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Measure Success: Robust Reporting
Conversion Tracking Google Analytics
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Figure out how to leverage advertising that other people are paying for
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And then adjust to do even better
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Need more recipes?
> Join “Maximizing Your Media Spend: Five Strategies that Top-Performing Dealers Use” next – at 11:45 am – with Ken Pfau, Cobalt’s Director of Training & Consulting
> Visit us at Booth #79
> For more information on Cobalt’s Industry Research visit www.cobalt.com/research