Newly Opened Pre-Owned Car Dealership Profitable within 75 Days of Launch. Focus on all-encompassing Digital Marketing Strategy
When running a car dealership, the day-to-day operations and time involved with customers and employees alike can make it extremely difficult to focus on growing the business. The cost of gaining market share in a competitive industry can be a challenge. When opening they brought in YBM from the initial stages to discuss a strategy so they could focus on the day to day operations. With a clear budget and targets required to meet sales goals throughout the next 12 months, we were able to develop a marketing plan for the long term. While the plan would be adjusted week by week or month to month with the constant communication, the overall strategy was solid and led to continuous revenue growth long term. Initially through driving general traffic and brand awareness, with long term goals of finding ideal customers and engagement.
While a big challenge to start from nothing, it was also a strong position to build everything as efficiently and effectively as possible. We focused on the best channels that would bring traffic, while also implementing a long-term plan for ongoing growth through SEO. We were able to produce an all-encompassing digital strategy that focuses on a fast ROI and steady flow of customers, while also growing their presence for long-term revenue growth as well.
Our approach is always to listen first and analyze. Marketing is not a one size fits all approach. Through collaboration and listening to clients’ needs, we are able to develop the most effective strategy that ensures their goals are met.
Starting an unknown business in a highly competitive industry such as automotive is no easy task. Car buyers are less loyal and savvier than ever with the amount of technology at their fingertips. YBM was brought in with extensive previous knowledge working with car dealers and advanced digital marketing techniques to produce the most results for the least amount of money (something this dealership did not have a lot of to start with). Along with this, the dealership had a good size of three salespeople who needed a steady flow of customers to hit their monthly goals, as well as make a good living.
Another key analysis point was focusing on their current competition. There are 5+ major competitors in the market that are spending significantly on digital marketing (many upwards of $50k+ per month). We needed a savvy plan that could make us compete with a fraction of the budget. It all came down to the best marketing mix to obtain a strong ROI in the least amount of time.
Once we had analyzed the competition and who the ideal customers were for the client, our long term marketing strategy involved the following:
> Generate leads quickly and ongoing to ensure their sales staff is busy.
> Grow a solid base of repeat and referral customers through advanced targeting and engagement techniques.
> Establish a long term organic presence through reviews and SEO growth strategies
Key Performance Metric were tracked closely to ensure optimal success, while adjusting for business demand
FIRST 6 MONTHS RESULTS
Unique Visitors: 13,558
Online Leads Generated: 3,300
Social Media Leads Generated Per Month: 350
Average Cost Per Social Media Lead: $7.07
Overall Traffic Growth (Year two vs Year one): Total 237k visitors: 40.5%
FIRST YEAR RESULTS
Automobile Sales: 264
Average Monthly Revenue Generated: $275K
Average ROI from marketing spend: 19X
Gross Revenue Growth Per Vehicle (Year Two vs Year One): 34%
Overall Revenue Growth (Year Two vs Year One): 28%