How to Use My Advertising Dollars to sell more cars!

Get a higher return on your Advertising Investment in 2012.

“The incorporation of Print media ultimately, hands down, is the driver that gets the customer in the door.”

How to get a higher return on your advertising investment

The car business has always been a red or green business when it comes to advertising. After losing about 17,000 new-and-used car dealerships, the auto industry, plus many of the advertising mediums are having to change business models to cope with the changing economic platform. If you plan on being one of the surviving dealerships then you will be re evaluating and changing your advertising model of the future.

I just recently moved out of a very profitable and thriving Car Dealership, which I worked in, for the past 3 years, and in the car bizz for 14 years..  We had a very objective plan in the way advertising was done, and in the long run … we made more money in the recession, than we made before the hard times hit.  Many dealerships adopted the plan of either: “no advertising” or “only digital Advertising”.  Our Model was: spread the money out evenly to all mediums, and because print/media prices had dropped so drastically we could advertise everyday,in print and radio and t.v., and it was ( and still is) cheaper than ever, and we could showcase our name and products at minimal prices. So effectively, while our competitors put all their eggs in one basket, and only captured the Internet audience, we were in every medium that the auto shopper was.

I have found that most dealerships have partially gone back to traditional print advertising because of the falling prices, for example, a 30-day ad spot price dropped about 50%,therefor allowing car dealers more circulation for less dollars. Plus, given the troubles that Japan’s automakers have had, not to mention the lingering consumer worries over Toyota’s recall last year, car makers and dealers may be able to seize an opportunity to grab more market share, through all mediums of advertising.

According to Automotive Marketing Online Publication of “Negotiating the curves”, overall spending maybe stagnant, but automakers and dealers will continue to shift it among media channels.  They estimate online ad spending by the entire automotive industry will be 2.98 billion this year, as advertisers big and small try to make every dollar count.

What does your current Print advertising budget Look like?

This was the OLD Model.

Autoshopper

You can still use Autoshopper for Interent and print!

Now New Models Are Imperative to reach the more than 5.6 million auto shoppers.

Taken from “ Business case for Internet Sales leads_.. Dealix Publication

What do the experts say

According to the media giants, print circulation declined worldwide last year but was more offset by an increase in digital audiences (according to the WAN-IFRA). Media consumption patterns vary widely across the globe. For advertisers, print publications are more time efficient and measurably effective than other media. Print still reaches more people than the internet, and digital advertising revenues are not compensating for the ad revenues lost to print. Although JD Power found that 88% of new vehicle buyers will visit automotive websites before going into a dealership for a test drive, on a typical day print media reaches 20 percent more people worldwide than the Internet ever reaches. When factoring in total readership (easily measured by print), print media reaches 2.3 billion people every day, the Internet only 1.9 billion. Paul Taylor of NADA agrees that “the internet will continue to gain popularity as a device for consumers to educate themselves about cars and trucks, new or used.”

So, if the education of the consumer comes from the Interent, where does the sale come from?

According Fred Bonebrake, “The incorporation of Print media ultimately, hands down, is the driver that gets the customer in the door. Electronic Media opens the sale and Print Media closes it.”

Autoshopper Book -Print Closes the sale!

Autoshopper Book -Print Closes the sale!

Most popular websites have Print Media-Generated Content

Social media is changing the concepts and processes of content gathering and dissemination A Google exec defended the company’s use of print newspaper-generated content on its website and maintained that the search engine isn’t profiting from newspapers’ newsgathering efforts. “We are not making money on the back end of newspapers,” Stefan Tweraser, head of Google Germany, said last week’s Editors Forum. He said Google spends $6 billion for news content and news services. He further states that “Google News lives because we have 50,000 partners with whom we share our revenues.”

The Internet giant, Google  recognizes the importance of incorporating print media in their worldwide campaign, a business model that should now turn into the HYBRID ADVERTISING MANTRA for Auto Dealers, a model for revenue share from digital to print.

“We now can have a doubly effective offspring of two unlike animals which produces an advertising mantra powered by more than one source.” I call it Hybrid Advertising Mantra for Car Dealerships, and auto media outlets.

The Hybrid Advertising Animal

The new Hybrid animal is a combination of targeted print and digital business models which will use paid content and a totally new revenue sharing advertising dollars. According to Larry Kilman, Deputy CEO of WAN-IFRA, the “two media are complementary, so it isn’t a question of one squashing the other.  Some things work better in digital and others in print – people access the two platforms at different times and under different circumstances. Although digital is having an impact on traditional media – as it is in all industries – we think print works quite well for advertisers and reader/shoppers alike.”

Digital vs. Print Stats

“55% of dealership visitors reveal their reason for making the trip to the store was primarily due to a print or online newspaper ad,” according to Art Spinella, CNW Research, “when it comes to the final push to get folks into the dealership, the old stand-by continues to reign.” Among the other categories for auto shoppers, Web influence has claimed to be 20 percent of shoppers that were pulled into the dealership,and spot TV was at 10 percent, and Yellow Pages were about 5.6 percent.

Autoshopper Ad

Print Still works!

In conclusion

Digital audience is not a different audience from print; we have the same shoppers using a formula to process the car buying experience. The buyer goes through 3 stages of consideration; each of the stages can be effectively “won” if the right media partner is in place.

First, when it comes to establishing your presence, print media has turned into the “feet on the street” for the auto dealer, much like a company having a sales force in “the neighborhood.”

The print media is delivered and/or bought inside your community, and  secondly, invites consumers to engage digitally through cell phones, I-pad, lap tops, and desk top use, to visit your web site by the use of QR codes, and social media ( FB , or Twitter) icons, online reviews and web URLs.

Then auto shoppers will cruise your FB, Twitter, and You Tube accounts to check your reputation and, hopefully, join your community.

Last, this ties your advertising together by inventing your own “dealership neighborhood effect,” while getting fans to interact and share your sites with other friends, thus multiplying your social dollars.

Surprisingly, the NY Times announced the sale of their Regional Media Group, to Halifax for 143 Million dollars. In a statement, Michael Redding, chief executive officer of Halifax Media, said: “The purchase of the Regional Media Group reflects Halifax Media’s belief that a good newspaper is an essential part of any vibrant community. The strong local news coverage these papers provide represents not only an important community service, but, in our eyes, a good investment.”

 

Autoshopper

Autoshopper.com has Internet and print Publications!

 Incorporating print ads, make Internet marketing a complete Hybrid Solution.

Basically, according to Fred Bonebrake of Break Through Direct, “Digital media opens a sale and print media will close the sale. There is no advertising channel that works over another – completely and on its own merit.”

They work together; cross-channeling the Hybrid mantra is the best way to drive customers to buy at your dealership.

Radio and TV spots help a consumer form an impression of the dealership; the digital online media builds a long-term “brand equity,” public relations (or reputation), product knowledge, and marketing for the dealer.

The incorporation of Print media ultimately, and hands down, is the driver that gets the customer in the door.

It is the final piece of the Hybrid Advertising Mantra.

I have personally been in a dealership and seen this model at work, each month we would continue to climb, with weekend traffic from store and on the phone being driven by print adsin books and  newspapers, plus radio and TV spots.  Online traffic seemed to rise during the weekday hours with leads, phone calls and requested quotes from the Internet.

Suggested Model to save your dealership! Hybrid Advertising.

Footnote: Next step is to find the right media partners! Autoshopper.com can offer you print and online advertising to help you sell more vehicles!

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