You’re Wasting Your Marketing Dollars
- November 1, 2016
- Automakers, Automotive Marketing, Digital Marketing, Leads, More Categories...
- Posted by Liz Lake
- Leave your thoughts
You’re Wasting Your Marketing Budget
“Half the money I spend on advertising is wasted. Trouble is, I don’t know which half.”
-Jon Wanamaker, Philadelphia’s most famous multi-location retailer, is credited with uttering this phrase in 1910.
Dealership management can relate to his frustration. Traditional marketing investments; newspaper ads and TV spots, may sometimes feel more like a necessary evil than an effective way to spend your hard earned revenue. Primarily because you’re spending thousands of dollars every month with little data to know if your efforts are attracting customers.
What if I told you there was one thing you could do right now to attract more customers, get real data on effectiveness, and stop wasteful marketing spending?
The trick is to be present online AND off-line, with a consistent message during the moments that matter most.
Woody Allen is often quoted as saying, “80% of success is showing up.”
How many of you feel you’re showing up, delivering the right message to the right customers at the right time?
You must be assertive with your marketing mix to show up both on the Internet and in traditional channels to close the loop on your customer’s path to purchase. When you invest in traditional advertising to blast a message to a mass audience, know that, at the end of the day, customers who are ready to buy will respond to these messages by researching online. Google reports that 75% of people who saw TV or newspaper ads, continued their purchase research online within two weeks. Like Jon Wanamaker, you know that traditional advertising can be expensive and hard to track. Beyond the cost is the lack of targeting and tracking capability. You pay 100% of the cost to reach 1-2% of people who are in a path to purchase your products and services today. And seeing customers walk into your business with a flyer is no real measure of effectiveness.
Online marketing is a smart investment, offering a considerable cost savings along with better data showing which messages connected a prospect to your business, giving you the potential for a sale. In addition to the lower cost, digital marketing is proactive. You can deliver the right ad to an ideal prospect the instant they go online to research a need, then track their online conversion path inside your digital campaign reporting and Google Analytics. It may be too late for our friend Mr. Wanamaker. But not you!
Contact us for a competitive audit today: 859.309.4434. Let’s collaborate on an omni-channel marketing campaign that puts the right messages in front of the right customers when they’re ready to buy, making your marketing investment go the extra mile to exceed your expectations.