Is There a BIG Hole in Your Marketing Strategy?
- 1. IS THERE A BIG HOLE IN YOUR MARKETING STRATEGY? 10 Common Gaps that Reduce the Marketing Effectiveness In Even the Most Progressive Dealerships
- 7. - How many records do you have in your customer database?
- 8. - How many records do you have in your customer database? - What percentage do you have email addresses for?
- 9. - How many records do you have in your customer database? - What percentage do you have email addresses for? Telephone numbers?
- 10. - How many records do you have in your customer database? - What percentage do you have email addresses for? Telephone numbers? Text opt ins?
- 11. - How many records do you have in your customer database? - What percentage do you have email addresses for? Telephone numbers? Text opt ins? Social media contacts?
- 12. - How many records do you have in your customer database? - What percentage do you have email addresses for? Telephone numbers? Text opt ins? Social media contacts? - Do you ask customers to specify their preferred communication channel?
- 13. - How many records do you have in your customer database? - What percentage do you have email addresses for? Telephone numbers? Text opt ins? Social media contacts? - Do you ask customers to specify their preferred communication channel? - How do you update your customer data?
- 14. - How many records do you have in your customer database? - What percentage do you have email addresses for? Telephone numbers? Text opt ins? Social media contacts? - Do you ask customers to specify their preferred communication channel? - How do you update your customer data? Through the Service Drive?
- 15. - How many records do you have in your customer database? - What percentage do you have email addresses for? Telephone numbers? Text opt ins? Social media contacts? - Do you ask customers to specify their preferred communication channel? - How do you update your customer data? Through the Service Drive? Through third party data providers?
- 16. 25-50% TYPICAL ANNUAL CHURN RATE FOR EMAIL LIST MediaPost, 2014
- 17. 4400% AVERAGE ROI FOR EMAIL MARKETING That's a return of about $44.25 for every $1 you spend Outbound Engine, 2015
- 35. 7,000 UNIQUE VISITORS PER MONTH 7,000 UNIQUE VISITORS PER MONTH RESPONSIBLE OFFENDERSVS
- 37. +140 from website conversions +140 from website conversions RESPONSIBLE OFFENDERSVS
- 38. +140 from website conversions 4 email campaigns +140 from website conversions 4 email campaigns RESPONSIBLE OFFENDERSVS
- 39. +140 from website conversions 4 email campaigns 1 newsletter (23,000) + 3 targeted emails (3,000) +140 from website conversions 4 email campaigns 4 blasts (23,000 x 4) RESPONSIBLE OFFENDERSVS
- 40. +140 from website conversions 4 email campaigns 1 newsletter (23,000) + 3 targeted emails (3,000) 31,000 total emails +140 from website conversions 4 email campaigns 4 blasts (23,000 x 4) 92,000 total emails RESPONSIBLE OFFENDERSVS
- 41. +140 from website conversions 4 email campaigns 1 newsletter (23,000) + 3 targeted emails (3,000) 31,000 total emails 0.3% unsubscribe = -69 +140 from website conversions 4 email campaigns 4 blasts (23,000 x 4) 92,000 total emails 1.0% unsubscribe = -920 RESPONSIBLE OFFENDERSVS
- 42. +140 from website conversions 4 email campaigns 1 newsletter (23,000) + 3 targeted emails (3,000) 31,000 total emails 0.3% unsubscribe = -69 +71 +140 from website conversions 4 email campaigns 4 blasts (23,000 x 4) 92,000 total emails 1.0% unsubscribe = -920 -780 RESPONSIBLE OFFENDERSVS
- 44. Replacing database loss through unsubscribes Average cost of a 3rd party lead: $21 780 x $21 = $16,380 THE COST OF IRRESPONSIBLE EMAILING Putting the loss in perspective.
- 46. BUY A CAR FROM ME SERVICE YOUR CAR WITH ME WRITE A REVIEW TO HELP ME OUT
- 47. GIVE TO GET
- 48. GIVE TO GET NEW MODEL
- 49. GIVE TO GET AUTO REVIEW
- 50. GIVE TO GET VEHICLE EDUCATION
- 53. Not only are your best customers responsible for more revenue, they also engage 290x more than others + 63% CLICKS Benefits of Non-Promotional Content: + 61% SERVICE VISITS + 28% VEHICLE PURCHASES
- 55. Can take a number of different forms: - Not having a follow up plan based upon the data generated - Not using data to develop predictive models - Not joining different data sets for more in depth analysis and insight FOLLOW UP OPPORTUNITIES
- 59. JOINING DIFFERENT DATA SOURCES TOGETHER FOR DEEPER INSIGHT 3rd Party Leads SEM Behavioral Data Website DMS CRM
- 62. LEARN MORE ABOUT YOUR CUSTOMERS
- 65. >60% OF CUSTOMERS DON'T FOLLOW MANUFACTURER RECOMMENDATIONS. Dealer Marketing Magazine
- 66. So why do our lifecycle communications assume that all vehicle owners behave exactly the same way? Demographic data is not enough. Intent must be taken into account. Smart use of data will predict when each customer is likely to service within the next month. Same for likely to purchase.
- 68. ARE YOU THROWING GOOD MONEY AFTER BAD CUSTOMERS? $ $$ $$$ $$$$
- 69. MAKE THE MOST OF YOUR MARKETING DOLLARS 42% OF VEHICLE PURCHASES 44% OF SERVICE REPAIR ORDERS 44% OF STORES GROSS MARGIN IN AN IMPORT STORE*, THE TOP 20% OF CUSTOMERS CREATED: *During a 6 month period
- 71. Look at all of your marketing and advertising activity in one calendar.
- 72. Leverage Tier 1 and Tier 2 advertising support to your advantage.
- 75. + Banners & Digital Assets +
- 78. DAY OF SEND COPY OF ADS TIME OF SEND SUBJECT LINE COLOR OF BUTTONS SHAPE OF BUTTONS ETC.
- 79. CASE STUDY: Day of WeekTestingon a Newsletter Open Rates Increased by 11.15% 3 Birds Marketing
Editor's Notes
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- “A man who stops advertising to save money….” henry ford clock background Deeper red Bigger text
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- Provide your customers with informational content about how to care for their vehicles.
- Your customers don’t always have an automotive need. Your communications with them should not just be about advancing your needs to sell and service vehicles. Send varied communications that include non-promotional content.
- Send other messages without any expectation of receiving anything in return. Birthday and anniversary greetings – emails, card, telephone calls. I spoke with a client recently, a person who has been in the industry for 30 years as a DP, an consultant, VP of Sales for small and mid-sized groups. He related that he still speaks with is stores everyday to make sure that someone has the list of all of the customers having birthdays that day and that each and every one will receive a call from the dealership wishing them a happy birthday and nothing else.
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- When you you put together a campaign or communication, do you do so with the follow up plan or strategy in mind? Do you know what you put each vehicle, incentive, lease special, vehicle review, etc. in because you know what your follow up action is? Do you have a follow up message in mind that you intend to send to people who click on certain content? Do you know in advance that people who interact with certain content will receive a telephone call? Do you know what the word tracks fo rthe call will be?
- Your ongoing data collection strategy can and should also feed predictive models.
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- When you send varied commnunications that include both promotional and non-promotional content, you create opportunities to learn more about your customers. When they are demonstrating signs of purchase intent, what they are interested in, likes and dislikes to create personas…
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- Recent Google Think Insights study found that consumer intent is more valuable than demographic data. Excessive reliance upon demographic data results in more missed opportunities than one would expect. A couple of examples noted in the study – 40% of baby products are purchased by homes with no children.
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