The market for vehicles in 2023 is challenging. Interest rates are high, production of new vehicles is still slow, and we’re still dealing with supply chain issues. It’s impacting new and used car sales and dealers’ budgets. Thinking of cutting marketing? Think again.
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As tempting as it may be to pull back on promotional dollars in a slow month, trimming the marketing budget hurts sales and leads.
The average consumer spends between 3 and 6 months researching a vehicle before they buy, logging almost 15 hours searching for a car. It’s your job to stay in front of that customer throughout that process.
Keeping a steady marketing cadence will help dealers thrive even in a down market, and position them well for the inevitable market rebound.
The Case for Always-On Marketing
1. Today’s Digital Marketing Impacts Future Sales
Stopping your marketing now will cost you sales later. The sales cycle is long for vehicles, and a pause now slows down your sales funnel, putting you behind the competition.
If you pause marketing now, while a potential customer is in the awareness or consideration phase, you’ll miss them when it’s time to convert them into a sale.
This is the time to be proactive and creative in your marketing.
Focusing on the entire sales process, from getting people interested to closing the deal, to connect with potential buyers and build relationships that drive future sales. A few months from now, you’ll thank yourself.
2. Steal Traffic, Leads, and Sales from Slowing Competitors
If the competitors are pulling back their marketing dollars? That’s the time to keep your foot on the gas, and gain competitive advantage. Now is the moment to pull ahead.
Seize the opportunity by owning the search space. Because most car buyers search for vehicles within 20 miles of their home, local SEO is a great place to invest dollars.
Target your own backyard, and you’ll have the opportunity to rank higher on locally relevant Google searches. Especially if your competition is pausing efforts.
Make it a goal to be found more often and chosen more often during this time. Focusing on your online reputation by soliciting reviews is also a great idea.
By increasing marketing efforts during this window of opportunity, dealerships can gain a competitive advantage, steal market share, and attract customers who are dissatisfied with their slowing competitors.
It’s a chance to differentiate your business, positioning yourself as the go-to dealership in town.
3. Some Competitors Won’t Stop Marketing
On the other hand, if your competitors keep up their marketing efforts and you stop yours, you’ll lose customers and market share. Ouch!
Keep up consistent marketing efforts to build brand loyalty, position your dealership as an industry leader, and keep a steady flow of leads.
Time to Double Down on Marketing
Your digital marketing efforts are critical, even when the market is soft. Instead of slashing marketing budgets, it’s crucial to explore alternative cost-cutting measures.
Cut overhead, payroll, the free popcorn in your waiting room… but don’t cut your marketing.
By maintaining a robust marketing presence, dealerships can dominate search results, increase their visibility, and provide exceptional customer experiences.
Don’t miss out on this opportunity to elevate your business!
Contact AutoSweet today for a free 5-minute marketing consultation and receive a customized digital marketing plan to fuel your dealership’s growth. Let us help you maximize your marketing strategies and drive sustainable revenue.
