OEMs are stepping up to the plate with aggressive incentive programs to help out consumers impacted by COVID-19, and they’re putting strong media weight behind these campaigns. As a result, impressions are up and if dealers want to capture this traffic, they need to align with these programs. People still need cars and the data shows they are actively looking to take advantage of these OEM initiatives. Dealers have a great opportunity to gain market share by engaging the traffic generated by their brands (even if that means working leads from home)!
Brands like Ford, Hyundai, FCA, GM, Volkswagen, and more are all offering progressive purchase incentives right now and as a result, impression counts are through the roof. Furthermore, it’s not just about brand awareness activity. Consumers are actively searching retail terms like “incentives” and “auto dealer near me.” Dealers should definitely align with this activity if they want to capture the retail traffic that’s being generated by their brands and gain market share in a down market. This means not canceling your digital ad spend, as we discussed in Part 2.
As an example, we interviewed a digital marketing manager of a large dealer group yesterday and in their market, in March, they were up nearly 70% and they absolutely did not cancel their digital advertising spend.
If you can’t get the eyeballs on the traffic, you certainly can’t get the leads. And you won’t get the showroom visits or the at-home appointments and ultimately, this will lead to less sales. Dealers need to leverage what the OEMs are doing right now, during this time of need, when these opportunities are available. In the wise words of Lewis Carroll, “If you don’t know where you’re going, any road will get you there.”
Next time, we’ll talk about sales definitely being down, but they’re not gone. Dealers need to keep working leads, even if that means finding new and innovative ways to do so because if not, your competition will.
Stay tuned for On the Dealer Front Lines Part 4: WHO’S WORKING YOUR LEADS?
