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A presentation addressing the marketing challenges and opportunities facing dealerships in a recession. Overview of tactics for marketing in a recession, and tools that are cost effective and complimentary to a recession-based marketing strategy.
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Marketing in a RecessionJayco Dealer Homecoming
June 2009
Challenges
The obvious:> Tighter budgets, budget cuts
> Slump in disposable incomes
> Decline in consumer spending
> Longer sales cycles
> Lower lead close rates
Opportunities
Success depends on your ability/willingness to evolve,respond, and capitalize> Growth of your market share
> Growth of your “voice” in the marketplace
> Development of better customer relationships
> Build your brand equity - awareness for your dealership
Importance of Marketing
Businesses that aggressively market themselves duringdown times come out stronger after recovery.
Key #1: Spend Smarter
Marketing ROI - not from spending more, but from spendingsmarter> Identify core customers
Who’s NOT a core customer? Think beyond past and current customers
> Focus on core products - What is your niche?
Key #2: Focus on Value
In a recession, value is most important to buyers> Refocus or define your competitive advantage based on how
you offer more value
> Be a “Low Price Leader” based on the value you offer, notsimply the price you offer
> Avoid the middle
> Have a clear and sharp value preposition
Key #2: Focus on Value
5 things customers equate to value> Makes the customer money
> Saves the customer time
> Allows the customer to avoid the frustration of doing stuff theydon’t enjoy
> Helps the customer save money
> Helps the customer feel better about themselves
Key #3: Be Flexible & Creative
Unique marketing approaches> “Trigger” marketing tactics
> Interactive marketing
> Partnerships
> Events
Alternative revenue generators> Parts/service
> Rentals
> Storage
> Cleaning
Key #4: Sharpen Your Pitch
Evaluate your current marketing message (logo, tagline,website, materials)> Is your pitch relevant for RIGHT NOW?
> Do you integrate your value preposition?
> Geared towards your core customers?
> Emotional connection
Key #5: Communicate
Marketing is a two way street, talking AND listening> Talk to sales prospects, ask them about their challenges,
needs, plans - Profile your customers
> Use technology to listen. What are people saying about: Your dealership? The products your carry? RVing, camping, the outdoors? The economy?
> Respond
Key #6: Be Aggressive
Now is the time to make a move> Do you have a “shaky” competitor?
Take advantage of their lack of preparedness Pinpoint their customers
> Be committed to growing your market share
> Take advantage of the decrease in “noise”
> Market consistently
Tools: Testimonials
Give prospects a “reason to believe”> Prospects are more likely to trust someone else’s opinion of
you (or your dealership)
> Generate “legitimacy”
> Workable in a variety of mediums
Tools: Your Website
The average car buyer checks the web 7 times before talkingto a dealer> Make your website a resource
> Provide relevant and current information
> Specials, offers, features
> Communicate your marketing message
> Create a two-way conversation
Tools: Social Media
Advantages> Cost effective (FREE)
> Huge reach
> Connect instantlywith prospects &customers
> Personal,customizable
Options> Facebook
> Yelp
> Flickr
> Digg
Tools: email
Advantages> Cost effective
> Easy to track - stats
> Easy to follow-up
> Provide a wealth ofinformation
Options> Campaign Monitor
> Constant Contact
> My Emma
> Dealer MarketingServices
Final Thoughts
1. Recession presents challenges, but creates opportunities
2. Marketing in a recession> Spend smarter
> Offer value
> Be creative
3. Harness new technologies, capitalize on cost effectiveoptions
> Evaluate your “pitch”
> Communicate
> Be aggressive