Every year, automotive sales spike between the last week of October and the end of the year, typically seeing a 9-11% increase in sales around Black Friday and a 70-85% increase in sales around Christmas.
If you’re like most heavy equipment dealerships, your digital marketing budgets have grown exponentially in the last decade. So how should you approach budget planning? You know budgets aren’t endless: What’s the right number?
The key to better marketing performance is cleaner, more accurate data. When you can clearly see what channels are generating leads and demonstrating a strong return on investment for your business, you can make better decisions that generate more leads.
To make the most of the summer months, lead generation efforts need to work efficiently and effectively alongside your business. Here are a few ways to measure the opportunity in your market and pivot your digital advertising to take advantage of seasonal demand.
Dynamic inventory advertising lets you target potential customers with unique, model-specific ads featuring in-stock inventory and up-to-date pricing. The results? Better click-through-rates and more conversions. And less stress that you’re wasting ad spend dollars promoting inventory that you don’t currently have. Here are a few ways car dealerships can use dynamic advertising to convert more leads.
Major advertisers including Honda America and Ford are temporarily boycotting Facebook and canceling ad spends in July stating hate speech, violence and racial injustice need to be eradicated. But it’s smaller businesses that made up the bulk of Facebook’s $17 billion of Q1 2020 advertising revenue.
The shift in seasonality may mean it’s time for a shift in your marketing strategy. If more customers are looking to rent vs. buy equipment, align your digital advertising by adding a paid search campaign that specifically focuses on rentals and ensures your business is found online.