Engaging Your Existing Customers, Part Two
Are you interested in keeping your current car-buying customers while still reaching out to potential new customers? Do you want to do this while keeping costs down? In today’s economy, cutting costs is the name of the game for any business owner, especially automotive dealers. Here is how you can use your advertising budget, your satisfied customers and the Internet to reach out to new customers.
Sponsor a Video Contest
Imagine the impact on your bottom line if dozens of your satisfied customers created a YouTube video based on their pleasant experiences at your dealership. As nearly everybody has a video camera and a computer nowadays, customers can easily create a video and post it to the site. And it’s free! Offer a gas card or some other incentive for the winner of the best video, and you’ll be surprised how much publicity your dealership receives from such a simple request.
Share Experiences on Your Site
You’d be surprised how many people will create a blog or a video with a promise that you’ll link to it from your dealership’s website. They’ll appreciate the traffic they receive and the publicity, too. Simply ask your satisfied customers to create something on their websites that discusses their experiences at your facility, and be sure to include a link on your website. It doesn’t get much more inexpensive than that!
Stir Up Their Creativity
Ask existing customers to create a short, 50-word description of the car they bought from your automotive dealership. Ask them to allow you to put it on the inventory section of your website. Many customers will just enjoy knowing that you used their descriptions, but you can offer a small prize for their efforts.
If you want to keep your customers engaged with your dealership so they’ll come back when it’s time for a purchase, use a variety of methods that appeal to them. These three ideas utilize social media and online automotive marketing, but using other ways is important, too.
The parallels of Web 2.0 and real life
Do you ever consider what makes Web 2.0-minded systems like MySpace, YouTube, Wikipedia, and LinkedIn so popular?
The obvious answer is because the users control their own experience and influence that of others. When you join these online communities you are able to present a compartmentalized version of who you are and network with everyone else in the system.
Kind of like real life, wouldn’t you say?
This is just how the real world works. We are all in a system (society) with rules and guidelines, or protocols to which we adhere to create a persona of our selves that we share with others and network. Naturally, any system that can mimic this sort of creativity and liberty in our online experience is going to win over some users.
When you look around you, one thing you see everywhere is advertising and it is usually loud, big, and bold. Take a drive down the highway to a metropolitan area and tell me what you see. Billboards, billboards, billboards. You see ads on bus stops and on buildings. You hear ads on radio, TV, and let’s not forget magazines. The point is, ads are everywhere and they are typically geared towards a particular audience that is likely to be viewing them.
The same goes for online advertising, but with the Internet, advertising can be taken a step further. There is a level of precision and reporting that go along with online advertising. So why, according to The Wall Street Journal, was only 5% of money spent on advertising done online?
I think it might have something to do with price. A quick analysis of advertising with The Wall Street Journal shows that a full page color ad for the US circulation would cost about $254,000. With 1.7M readers the advertiser is paying $0.15 an “impression”. Step down to a 1/7 page ad the advertiser cost would be about $28,400, or $0.016 per impression. A typical banner ad on the Web costs advertisers now about $20 CPM (cost per thousand impressions). This equates to about $0.02 per impression.
This is a very rough calculation but you get the point. The cost for advertising on the Web can be and typically is significantly less expensive which I think is the reason why 95% more money is spent in off-line advertising. This will change in time, and probably not too far off. There are companies out there getting a jump on this and with behavioral advertising hitting the scene, the cost for online advertising will rise steadily and quickly, possibly some day surpassing print and television advertising.
