October 2008 :Suggestions on how to face the changing economic climate in the Auto Business and Survive. In North Carolina:
Radical Changes in Marketing Strategy: For Our New Economy!
In the "fat" times all the folks in the "Know " said your cost for advertising should be $75.00 a unit.
I suggest dropping that to $65.00 per Unit and utilizing your budget more effectively. All inclusive, Internet, Print, if you still do that should be quite small unless you are in a local that gets great response from print. I find Print success is very geographically oriented. TV, well folks I would be watching return on that money very carefully. Just plain stop the mail out’s they seem to do a good job in filling the land fills and not much else.
First, have what people want to buy: I know that is easy to say and hard to find: Spread out find cars in other locals:
The "bulk" not all of inventory 15K and Under with concentration on the 10K and Under Category:
Concentrate on going the next step in your Internet Advertising: Chances are some of you are paying huge amounts to sites that market themselves not you. If you do not have a stand alone web-site "get one". Now you have a way to go to the next step:
The reason is your "connected" web sites are expensive and do not link you back to where you need to be going.
Where is that You Ask: Take your Marketing Budget i.e.: Pay Per Click, what are you paying now? $500.00 to $1,000 a month how about lowering that amount and stop worrying about who comes up first! You just want to stay on the first page that is the goal. Having said that: Let me explain where the bulk of your leads should be coming from. LINKS and Social Marketing and Organic Searches. I will give you an example:
I started RTPUsedCars.Com Just this past month- I reached the 75% mark on referrals(links) that allows me to use my PPC budget now to invest in better positioning relevant to my geographical area.
In my next News and Views Letter I will go into Social Marketing:
And Marketing for your geographical area. Let’s face it that one Sale a year you make to the guy in NY is not cost effective:
How "money alone does not insure your search position" SEM-SEO
Note: The Views Expressed in this Newsletter are those of the Author: Unless noted as Quotes:
Bottom Line: Take "Big" Steps to keep your Bottom Line in the Black.
For more information on how you can change your Marketing: Contact Phyllis@RTPUsedCars.Com
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