Dealer Teamwork released this information to its clients this morning (4/9/2020). I'm posting it here to make it available to everyone.
This piece examines current COVID-19 advertising trends and provides recommendations to dealers on how they can adjust their marketing strategies to come out on top once things return to 'normal'.
You can view the original article on Dealer Teamwork's website here: An Opportunistic Approach to COVID-19 Marketing Strategies for our ...
We’ve seen a lot of dealers who have paused or decreased budgets with the concerns for the coronavirus rising. We are seeing this shift with dealers all over the country. This change in strategy opens the market for remaining advertisers to increase their online market share, capture traffic at a low CPC due to little competition and establish themselves as top-of-mind dealerships. We’ve seen great success with dealers who have retained a digital presence, and we want to share our thoughts with our valued customers on this topic.
Also, please note that this is not about increasing revenue for Dealer Teamwork. We want to align your dealerships, as best we can, to come out of this down market stronger than ever.
Below are some recommendations and trends we have observed:
COVID-19 will hasten consumer demand for seamless online automotive purchasing experiences. Dealers who have figured out how to offer more convenient services for consumers due to the impact of stay-at-home orders will continue to provide those services and the demand will increase after the crisis. We think dealers can execute with or without a quote “digital retailing product”. The focus is process, communication and meeting consumer demands. The dealers who have already figured this out and can increase their brand awareness during this crisis will come out of the down market stronger. They will be the winners. Dealers who can’t adapt to the new normal will be left behind and continue to see market share erode. Finally, those using the training and tactics that have been the same for the last 20 years will cease to be.
We want to help our dealers to be opportunistic in the new market conditions. Each market has some level of differing behavior, and consumer sentiment is changing weekly. We are here to help you determine your scalpel approach and be your steadfast partner through the epidemic and into the new market.
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