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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.

Don’t be Generic in Your Video Marketing

Today’s consumers want marketing that is personalized to them. In the past, marketing has always been about broadcasting the same message to everyone. Attempting to catch as many “fish” as possible. That strategy no longer works in today’s modern world of consumer shopping behavior.

To truly capture a customer’s attention and win their business, you must focus on personalization. Many marketers utilize generic, bland, stock imagery, and video to tell their “story.” This practice is so bad that a poet even created lyrics parodying marketing in a video titled, “This is a Generic Brand Video,” .

 

 

Somewhat ironically, this video ended up being supported and promoted by a company that sells stock photos and video. While the video may be a little dated, the message and lessons it implies still hold true today.

Technology has made it possible to personalize every video to every individual customer without having to do a lot more work. In the dealership world, that means that every personal communication, service video, vehicle walkaround, or employee introduction can be tailored and personalized. Sadly, too many dealerships are failing to take advantage of this ability.

It is well-documented how video content is hugely desirable and highly influential to today’s consumers. If you can engage these consumers with relevant content and become a resource, you are a step ahead of the game. Take it to the next level by then personalizing that video content, and you can blow your competition out of the water!

Your customers don’t want to feel as if they are part of the millions. They want to feel as if they are the most important one among the millions. If you can accomplish that, you will earn their business, trust, and loyalty. Watch the video again and be honest… how many commercials have you seen that employ those same generic marketing tactics? This video struck a chord with marketers because it is hilariously accurate. It did, in fact, go on to win awards.

People don’t care about you or what you are trying to sell them if you don’t care about who they are. Use today’s technology to leverage the power of personalization in your video marketing effort. You will find that anyone you are trying to win as a customer will choose to do business with you because you cared about them.