In: Accounting
Write an essay discussing marketing and advertising techniques of a product or service of your choice. As part of your essay, you should include a summary of at least 1 outside article. Don't forget to include an opening sentence to begin your summary.
I would like to share makreting and advertising techniques of automobile industry in the following way with opening sentence to begin summary :-
Did you know that 95% of car sales today are made at the dealership, but search is the first place people go to begin their buyer’s journey? It is clear to most automotive marketers that online advertising is key to bring new leads into the dealership. Yet, this automotive marketing strategy comes with many challenges (and costs).
One of the biggest challenges automotive marketers face is gaining the trust of their leads. After all, the job of a marketer is to help bring leads in the door so the sales team has people to sell to. But in such a competitive industry—one where the consumer is making a rather large financial decision that will affect their everyday life—automotive marketers do not have it made in the shade.
So how can automotive marketers deal with these challenges? By being smarter about their online advertising. 97% of people looking to purchase, repair, or customize a car start their journey online.
9 killer automotive marketing strategies
As daunting as it is to advertise in the auto industry, there are some tried-and-true ways to achieve sustained success. Here are nine automotive marketing strategies that you can use to drive more sales this year.
1. Build trust with customer reviews
I will never forget leasing my first car. I went for the reliable, affordable, and decent-looking (in my opinion) Honda Accord, but I was terrified at making this decision. I spent months doing research, calling local dealerships, considering whether leasing or buying a used car was the better route to go. At the end of day, I decided where to look in person by reading customer reviews on Yelp and Google.
The point of this anecdote is this: Reviews are probably the most effective automotive marketing strategy there is. As an automotive marketer you need to not only ensure you have GOOD reviews, but you need to go above and beyond to ensure these glowing reviews are everywhere they can possibly be. Yelp, Google, social networks, your own website—ensure you are covering all your bases! You can also take things a step further by creating customer success stories and videos with your most valued customers, and use these in various places, like paid social ads, your website, or your newsletter.
2. Be at the top of the Google SERP
As mentioned above, when I first started searching for my new car where did I turn to? Google, of course! I am not alone in this. According to a study from Kenshoo, 70% of consumers researching cars turn to search engines first.
Since Google is the first line of defense you need to be at the very top! Especially considering how often people scroll to the bottom of the SERP
3. Bid on competitor keywords
While we’re talking about search engine marketing, it’s important to not only be bidding on the obvious keywords like “new Honda Accord.” You should also set up an automotive marketing campaign to tackle your competition.
4. Actively manage your negative keyword list
Did you know that your ads can show up for searches that are not relevant to your business? And if anyone clicks on them, you still have to pay? Whenever you are bidding on broad or phrase match keywords the potential to show up for irrelevant searches is present.
5. Adjust your campaign budgets based on car-buying trends
Is Black Friday the hottest day to buy a car? What about Memorial Day Weekend? There are many unofficial “car-buying holidays.” According to an analysis done by TrueCar.com and U.S. News & World Report, you can purchase a vehicle for 7.5% to 8% below MSRP if you’re strategic about when you buy it. Assuming your audience has done their fair share of research, they are aware of these automotive deal times. Check out the report here to read more about the days of the week and times of year that deal-shoppers are likely to browse for their next vehicle.
6. Target the right people with your automotive campaigns
What type of automotive business are you marketing? Who is your typical customer? There needs to be a different automotive marketing strategy for marketers of luxury Porshe and BMWs versus marketers of used cars or more affordable brands like Honda and Toyota. The prospective customers have drastically different concerns, questions, wants and needs when it comes to investing in a new car. While your Mercedes customer may be more concerned about their heated seats and leather interior, your Honda buyer most likely care more about gas mileage and longevity. Although this might not always be the case…
7. Compel shoppers to come into your store with unique offers
Why should I buy a car with you versus the automotive dealership down the street—or one that’s more conveniently located or better priced? A crucial part of your automotive marketing strategy is convincing your prospects to choose you over your competition.
8. Use all call features possible
Call-only campaigns, call extensions, mobile bid-adjustments, and call tracking—these are just a few of the Google Ads features that the automotive marketer should be prioritizing. Phone calls are common and important within the automotive industry, and phone leads are easier to turn into sales.
9. Remarket!
Remarketing is a critical component for automotive marketing. Since there is so much comparison shopping going on, and the sales process is such a key component of the car buying process, it is important to not lose new leads in the marketing stage of things. Giving them reminders through intriguing remarketing ads is one great way to ensure no leads fall out of the funnel.
With remarketing, you can lower your abandonment rate and close more deals by showing enticing Display ads to people who recently visited your site, in order to remind them you’re there and lead them through the process. Try showing them a deal to get them to come into the store. This will ensure you’re able to get them connected with your stellar sales team.
With the help of these automotive marketing strategies, your campaigns should take off at a lightning pace. You'll be delivering new leads to your sales team in no time!