QUESTION: Is Your Advertising Really Working?
ANSWER: Is Your Market Share Growing?
My dad always said, “Don’t answer a question with a question,” but in this case, there’s a pretty good measuring stick when it comes to advertising effectiveness. Are you increasing your market share? Assuming that your people, location, inventory, etc. aren’t changing, the best way to measure your auto dealer marketing effectiveness is to measure your share of the pie versus your competitors’. Surely, customer traffic counts can be considered a measuring stick as well, but few dealers are great at logging customer traffic, and in today’s business climate, increasing the number of secondary finance leads at your dealership will do very little to increase your sales.
So it’s all about MARKET SHARE and, therefore, it’s about COMPETITION. Being #1. There’s just something really sweet about being #1.
Does your dealership have the capacity to be the #1 store in town? Maybe…maybe not… You can grow your market share, though, and advertising budgets should be based on realistic expectations of how much market share you can gobble up from your competitors.
That’s where we enter. At The Automotive Marketing Group, we’re focused on car dealership marketing that grows your market share. There’s only one way to do it. You have to take it from someone. Will it be trucks? Hispanic business? Used cars? Conquest? Which segments are most-profitable and which are you most likely to increase quickly? Who is your most vulnerable competitor? The Automotive Marketing Group will help you turn YOUR inventory faster by stealing THEIR market share. Then, you’ll add big profits to YOUR BOTTOM LINE.
Here’s an interesting question: Which auto dealerships are most profitable today? Answer: The ones with the most units in operation (market share). Correct? The way we see it, your share of the pie is either growing or shrinking. Please call us today and let The Automotive Marketing Group show you how we can help you grow your market share and build a recession-proof store.
President, The Automotive Marketing Group