The auto market rarely stays stagnant. Consumer behavior fluctuates, seasonality plays a role, and even the rules of the digital advertising world change. Within this ever-changing market, dealerships need to understand when and how to adjust their digital advertising strategies.
Because the auto industry is dynamic in this way, digital advertising isn’t a “set it and forget it” service. Beyond daily adjustments, reevaluate your targeting strategies and budget periodically to take advantage of new opportunities to reach the most buyers.
Use these tactics to put your digital advertising dollars to good use.
1. ADJUST FOR SEASONAL BUYING CYCLES
Digital advertisers and auto dealerships must adjust their marketing strategies in the summer because both search volumes and vehicle sales commonly peak during these months. Based on our 2016 data, clients saw an average increase of 10% in sales between June and August.
Match the increase in demand for cars by increasing your budget. That way, you won’t miss out on additional leads that enter the market. Adjusting marketing dollars to meet these fluctuations in demand and reach interested buyers will help you make more sales and boost your ROI.
2. REVIEW YOUR GEO-TARGETING
One of the most important factors of digital advertising is also the most dynamic. Your optimal geo-target changes as people’s shopping habits change and your competitors adjust their marketing strategies. After creating an initial targeting strategy, it’s important to monitor and adjust your geo-targeting frequently to make sure you’re reaching the maximum number of buyers in your market on a given day and spending your digital advertising dollars effectively.
If you notice your digital advertising budgets running out quickly, consider increasing your ad budget to increase your Search Impression Share (SIS). By increasing your SIS, you will show your ads to additional, interested buyers. While there’s no right answer to targeting, a periodic digital advertising tune-up in addition to daily monitoring allows you to keep an eye on changes among buyers and competitors, so that you can continue to improve your ROI.
3. ADD NEW MAKES & MODELS
Your dealership should use digital advertising for all the makes and models you carry. Otherwise, you’re going to miss out on opportunities to sell those vehicles. Include the price, year, quantity in stock, and color in your ads. This level of detail provides transparency and creates trust between you and your customers.
Audit and optimize your campaigns to include the new models introduced into your lineup. While additional ads may require an increase your budget, this effective use of your ad dollars can drive additional car sales.
THE NERDHERD: THE BEST TOOL IN YOUR MARKETING TOOLBOX
Digital advertising requires diligent monitoring and adjustment to ensure you’re spending ad dollars wisely. While tools can help to customize and automate some online marketing, it’s the team behind the tools that can make all the difference.
In addition to using our suite of digital marketing tools, your dealership’s account is actively monitored and reviewed by your Digital Marketing Consultant. Along with our standard monthly reports, we prepare specialized reports throughout the year that highlight opportunities to grow sales and optimize your online marketing performance.
Contact us today to see how we can help your dealership get the most out of your digital advertising dollars.