Author: arnoldtij

How to Make the Most of Your Marketing in a Down Market

Consumers have grown tired of the countless vanilla marketing messages many companies keep sending (and yes, that includes OEMs and dealers.) However, the marketing tactic that is enjoying success is relevant marketing directly aimed at a specific individual. Relevance is the key to winning today’s consumers. But, it’s not only about relevance, it also involves delivering that message in an engaging manner. Well, how do you best do that?

A recent article in Forbes shared that while ad spend is up 22%, the majority of marketing channels and methodology often produce an open rate of less than 19% and a click-through rate under 3%.  Video, however, performs much better. The article shares a story about a business that decided to shift its budget away from traditional marketing messages and instead use personalized video messages. The videos are personalized and available to the consumer on any platform. The results are incredible, with a 98% open rate and a total transformation in terms of reduction in early churn.

Personalization is vital to capturing a consumer’s attention. And there is no more effective way than through the medium they prefer: video.

There are many pieces to each dealership’s marketing puzzle. If your dealership is looking to cut its marketing budget because of a downturn in sales, first consider which pieces of that puzzle produce sales that can be tracked versus those that are shiny objects.

The great thing about sending personalized videos to prospects and current customers is that consumers tend to engage, and it is also one of the easiest types of marketing content to produce, the most affordable and performs the best.

It doesn’t matter which platform your prospective car buyers choose to engage with your dealership; videos perform the same regardless of platform. Videos emotionally connect with people and make them feel more special than an automated template shooting out from a CRM. Consumers can smell those a mile away. A personalized video, however, addresses them by name and shares the exact information they are seeking on the exact vehicle. Which is going to get a warmer reception and build rapport faster?

People like to do business with businesses (and people) that they like. As long as the customer is hiding behind an email address, or ignoring your phone calls, you are simply more noise that is not specifically relevant to them.

There is a reason personal videos made relevant to each individual customer perform better than other forms of communication. The biggest one being that the consumer recognizes that, while they may receive similar auto-responder templates both at the beginning and during the follow-up process, YOUR dealership chose to take the time to address them on a personal level with a video that answered their questions and welcomed their business.

Stop shooting for 3% response rates and think bigger. Video not only engages more customers; it generates more sales and builds loyalty as an excellent side benefit.

Video is Everywhere!

There are a huge number of travelers on domestic flights each year. Southwest Airlines, not unlike others, offers these passengers paid wi-fi, but, more importantly, in-flight entertainment. The standard of that entertainment has changed immensely over the years. In the not too distant past, flight attendants collected discarded newspapers and magazines and offered them up to the next group of fliers for ‘entertainment.’

Today is vastly different due to the mediums now available and advances in technology which has effectively changed people’s desires. Take a look at this image.

It is a current pamphlet in every Southwest Airlines seatback notifying passengers that there is “in-flight entertainment.”

Let’s do a quick dive into these. Five types of “free” entertainment are promoted– movies, on-demand TV, messaging, live TV and music. How many of these are video-related items? 3 out of the 5!

Guess what folks? Airlines have chosen video as the preferred method of entertainment. I bet that there were focus-groups galore before they decided what amenities they wanted to adopt and market. You better believe they did that before adopting the technology along with the related expenses!

Of course, some passengers bring their own newspapers and magazines (because the airlines don’t offer them anymore, except for their own in-flight magazines). Passengers also bring digital reading material and… surprise… iPads with movies (hint: videos)!

There are many things these days that can be used to entertain people while stuck in a giant tube 15,000 feet in the air –all looking for things to … God help me… pass the time. Personally, I prefer to sit in the first-row isle seat — I like to be the first one OFF the plane, rest my cowboy hat on my knee, and…watch movies that I’ve downloaded specifically for the flight.

If you are hesitant or uncertain about the impact video can have on your customers, just be observant on your next airplane ride and see what the majority of people are doing to pass the time… I would bet I know the answer.

If you ever travel with a cowboy hat, rest it crown up on the seat back tray to avoid any damage. Be sure to thank the flight attendants and, once you see that everyone is watching some sort of video content, take a break from any in-flight entertainment you may be enjoying, and look out the window once in a while. The Grand Canyon looks awesome from high in the air. The World is an amazing place to see!