Tradition is great when it comes to Thanksgiving and the Fourth of July. But in a world where communication, buying habits and information gathering are changing daily, doing things “the way it’s always been done” is a recipe for failure.
In the traditional – fast disappearing – approach to automotive marketing, dealerships offer the latest OEM incentives and push them out with shotgun strategies to a broad market to drive traffic to their website and showroom floor.
In 2016 times have changed. Today’s automotive consumers are smarter and increasingly well informed. To gain a competitive edge, dealerships must provide what consumers want. This is how automotive disruptive marketing takes the forefront.
What is Automotive Disruptive Marketing?
Disruptive Advertising is a business model rather than a single strategy. The model allows plenty of opportunity to capitalize on a crowded market where consumers tune out traditional messaging. To break through the noise of your competitors, a dealership’s product and brand must pay attention to consumers’ needs, and deliver exactly what they want exactly when they want it.
A disruptive dealership marketing model incorporates and capitalizes on IoT (Internet of Things) Analytics and Online Behavioral Monitoring with Artificial Intelligence to identify and score consumer buying patterns so they can recognize and reach out to car buyers as soon as they enter the market, and gain first position to sell them a vehicle.
Dealerships that want to employ disruptive marketing need to be prepared to change their business model to place a greater focus on data and message timing. Dealerships of all sizes can incorporate this model into their overall strategy with virtually no risk and a measurably greater return on investment. Dealers who ignore this trend risk losing massive market share to their competitors who embrace it. As with all things in this data-intensive world, automotive marketing is moving swiftly to the disruptive model. Artificial Intelligence and Machine Learning are real and are here.
A dealer who is really serious about using disruption to increase market share must be willing to change its marketing model. Successful Automotive Disruptive Marketing requires a long-term commitment to reap the full rewards of the model.
How is a Automotive Disruptive Model developed and deployed?
The first step is to focus on online behavior in your PMA. Monitoring online consumer behavior in real time –– including navigation, mobile behavior, social media activity, keyword search, content consumption, current and past shopping behavior, demographics and Internet of Things data –– to identify and lead score in-market prospects in your geographical area who are most likely to buy.
Next, your in-house or outsourced agency takes all the current behavioral data and compares it to other specific data relative to your dealership such as: website visitors, CRM/DMS activity, and competitor’s client activity.
Once the data is gathered, it’s time to use a lead scoring algorithm to provide the most statistically significant leads so the marketing team can develop a messaging strategy that uses the most effective media channels.
Last, once a prospect is closed, you must analyze the buyer’s data points and create lead scores to optimize and build a customer journey map for future campaigns that ultimately increase sales and save you thousands per month in lead acquisition costs.
How can an ad agency help your dealership succeed with this strategy?
Since automotive disruptive marketing is a new and specialized field, there are very few agencies that are capable of designing and implementing effective campaigns, particularly at a cost-effective investment. Many Fortune 1000 companies employ Madison Avenue for their disruptive marketing strategies and execution.
The components needed to be successful in this strategy include data, marketing, programmatic advertising and a complete online and offline Omni-Channel approach.