As a Dealer Principal, you’re bombarded with business
decisions every day. Many of these decisions fall
into these three categories: staffing, inventory
and operations. Intuitively, most businesses resolve
these problems quickly to everyone’s satisfaction.
But, what happens when you’re faced with complicated
issues such as whether to expand or relocate your
business, whether to bring in a diferent inventory
or make a major purchase? At these times, a little
marketing know-how goes a long way.
Follow these three marketing steps to ensure the
success of your Dealership:
Step One: Market Analysis (3 C’s)
Start by focusing on the 3 C’s of Market Analysis:
customers, competitors, and company. You’ll need
to look at all three areas and see how they stack
up to make an objective decision.
Customers
Look first to your current customers. Who are they
and how do they make their purchasing decisions?
Do they fall into a demographic that will utilize
your products or services? Do they have the resources
to pay for it? If your current customer base won’t
do repeat business with you, how can you guarantee
that new customers will?
Competitors
Now look at your competitors. Who are they, and
what products and services do they offer? What are
their strengths and weaknesses? Visit other Dealerships
in your area, and see how they’re positioning themselves.
What do your top competitors do better than you?
What is their strategy? How do they market themselves?
Take a look at their prices, staff, and service
menu. How does their ambience compare with yours?
Find out as much as you can about them, and use
that information to make changes that will benefit
your Dealership.
Company
Now take a hard look at your own company. What are
your core competencies? What are your strengths
and weaknesses? What is your financial situation?
What is the culture like at your Dealership? Is
your staff eager to learn and adopt new customers
service skills? Are you adequately funded for major
purchases? How about money for training? If you’re
contemplating a move, will your staff go with you?
Step Two: Car Dealership Marketing Plan
This is when you set clear objectives. Consider
which customer segments to target and how you’ll
draw them to your service. How will you differentiate
yourself from the competition and how can you sustain
your market position? Brainstorm to come up with
a list of benefits that you can use in your marketing
campaign. Focus on the emotional impact of your
product and service. Think about what your customers
(or potential customers) value. Do they attach importance
to great customer service, customized treatments,
and personalized, human touch? How about value and
saving money? Perhaps your customers prefer small,
independent professionals over large companies and
retail chains. With proper analysis, you’ll come
up with a list of benefits that you can use consistently
in all your marketing collateral, including your
website and online marketing.
Step Three: Dealership Marketing Tactics (4 P’s)
This stage deals with the nitty-gritty of marketing
tactics. You’ll look at your inventory, their prices,
your promotions, and place (commonly referred to
as distribution); and how they affect positioning
your Dealership. By focusing on the 4 P’s, you help
shape the perceived value of your products and services
in the minds of your customers, thereby eliciting
a positive response. That should be your primary
goal. Bear in mind that many outside and inside
factors contribute to the overall success of your
marketing campaign.
Conclusion: By answering some broad-based questions,
you’ll have a clear idea of the major problems,
opportunities and threats facing your company. You’ll
be able to formulate a strategy to address these
areas and devise a marketing plan to execute those
ideas. Good strategic thinking should be based on
careful market analysis. Never make the mistake
of letting tactics drive strategy. Start your marketing
framework with the 3 C’s, move on to setting your
objectives, and then formulate your marketing plan
with the 4 P’s. Following these three simple steps
will help guarantee success.
Need help with your marketing plan? We have a "done-for-you"
plan you just need to fill in the blanks. Call 866-927-0437
or use our contact form
for more information
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