Gain Leverage Against Your Competition with Research


Gain Leverage Against Your Competition with Research!

It is common in an economic downturn for dealers to slash their advertising budgets and hunker down to ride out the storm. Is this the best course of action for your dealership? Simply put, the answer is no. A recession creates a rare opportunity for your dealership to make an aggressive marketing plan even more successful! By viewing the economic downturn as an opportunity to grow your company and increase market share over “dormant” competitors, you can not only ride out the economic storm, but also capitalize on it. Here are a few tips:

Send the right message: When your dealership continues to execute a well-crafted, strategic marketing plan and proactively promote itself in a down market, you can gain serious leverage over your competitors. While they are passively sitting back, waiting for the storm to pass, there will be less ad clutter for you to compete with. Media companies will be more willing to make deals, cut rates, and offer premium placement for your ads. And by continuing to proactively market your dealership, you are sending the message to consumers that you are viable, strong, and have staying power.

Psych up the consumer: Media habits research can help your dealership cut the “fat” out of your ad budgets and reduce marketing expenses by thousands of dollars each year. And contrary to popular belief, research doesn’t have to break the bank. Focus on gaining insight from current customers to keep your data collection costs down. Ask them questions about their media habits. What do they watch, listen to and read on a regular basis…and when? Did they surf the Internet prior to making their purchase? If so, what sites did they visit? Collect pertinent demographic data along with media information. You can even ask how satisfied they are with their buying experience at your store.

Have a plan in mind: Once your customer data has been collected and compiled, the results will provide you with a detailed media-habits profile of your ideal customer. This profile will give you a media planning “road map” that will allow you to make the most effective advertising decisions for your store(s), while cutting out the media outlets that are not driving customers through your doors.

Do your research: Conducting a minimal amount of market research can make all the difference for your dealership. Customers love it when you ask them their thoughts and opinions. You’re letting them know that you care about what they think while, at the same time, tapping into your most valuable information source…your own paying customers.

Increasing advertising effectiveness, building market share, and driving more traffic to your dealership, all while cutting your advertising costs (recession or no recession) media-market research is a win-win!

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