Is There a BIG Hole in Your Marketing Strategy?
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Transcript of Is There a BIG Hole in Your Marketing Strategy?
IS THERE A BIG HOLE IN YOUR MARKETING
STRATEGY?10 Common Gaps that Reduce the Marketing Effectiveness In Even the Most Progressive
Dealerships
- How many records do you have in your customer database?
- How many records do you have in your customer database?
- What percentage do you have email addresses for?
- How many records do you have in your customer database?
- What percentage do you have email addresses for? Telephone numbers?
- How many records do you have in your customer database?
- What percentage do you have email addresses for? Telephone numbers? Text opt ins?
- How many records do you have in your customer database?
- What percentage do you have email addresses for? Telephone numbers? Text opt ins? Social media contacts?
- How many records do you have in your customer database?- What percentage do you have email addresses for?
Telephone numbers? Text opt ins? Social media contacts?- Do you ask customers to specify their preferred
communication channel?
- How many records do you have in your customer database?
- What percentage do you have email addresses for? Telephone numbers? Text opt ins? Social media contacts?
- Do you ask customers to specify their preferred communication channel?
- How do you update your customer data?
- How many records do you have in your customer database?
- What percentage do you have email addresses for? Telephone numbers? Text opt ins? Social media contacts?
- Do you ask customers to specify their preferred communication channel?
- How do you update your customer data? Through the Service Drive?
- How many records do you have in your customer database?
- What percentage do you have email addresses for? Telephone numbers? Text opt ins? Social media contacts?
- Do you ask customers to specify their preferred communication channel?
- How do you update your customer data? Through the Service Drive? Through third party data providers?
25-50%TYPICAL ANNUAL CHURN RATE FOR
EMAIL LIST
MediaPost, 2014
4400%AVERAGE ROI FOR EMAIL MARKETINGThat's a return of about $44.25 for every $1 you
spend
Outbound Engine, 2015
7,000UNIQUE VISITORS
PER MONTH
7,000UNIQUE VISITORS
PER MONTH
RESPONSIBLE OFFENDERSVS
23,000DATABASE
23,000DATABASE
RESPONSIBLE OFFENDERSVS
+140 from website conversions
+140 from website conversions
RESPONSIBLE OFFENDERSVS
+140 from website conversions
4 email campaigns
+140 from website conversions
4 email campaigns
RESPONSIBLE OFFENDERSVS
+140 from website conversions
4 email campaigns1 newsletter (23,000)
+ 3 targeted emails (3,000)
+140 from website conversions
4 email campaigns4 blasts (23,000 x 4)
RESPONSIBLE OFFENDERSVS
+140 from website conversions
4 email campaigns1 newsletter (23,000)
+ 3 targeted emails (3,000)31,000 total emails
+140 from website conversions
4 email campaigns4 blasts (23,000 x 4) 92,000 total emails
RESPONSIBLE OFFENDERSVS
+140 from website conversions
4 email campaigns1 newsletter (23,000)
+ 3 targeted emails (3,000)31,000 total emails
0.3% unsubscribe = -69
+140 from website conversions
4 email campaigns4 blasts (23,000 x 4) 92,000 total emails
1.0% unsubscribe = -920
RESPONSIBLE OFFENDERSVS
+140 from website conversions
4 email campaigns1 newsletter (23,000)
+ 3 targeted emails (3,000)31,000 total emails
0.3% unsubscribe = -69
+71
+140 from website conversions
4 email campaigns4 blasts (23,000 x 4) 92,000 total emails
1.0% unsubscribe = -920
-780
RESPONSIBLE OFFENDERSVS
23,071DATABASE
22,220DATABASE
RESPONSIBLE OFFENDERSVS
Replacing database loss through unsubscribesAverage cost of a 3rd party lead: $21
780 x $21 = $16,380
THE COST OF IRRESPONSIBLE EMAILINGPutting the loss in perspective.
BUY A CAR FROM ME
SERVICE YOUR CAR WITH ME
WRITE A REVIEWTO HELP ME OUT
GIVE TO GET
GIVE TO GET
NEW MODEL
GIVE TO GET
AUTO REVIEW
GIVE TO GET
VEHICLE EDUCATION
GIVE TO GET
V
LIFESTYLE
Not only are your best customers responsible for more revenue, they also engage 290x more than others
+ 63% CLICKSBenefits of Non-Promotional
Content:+ 61% SERVICE VISITS
+ 28% VEHICLE PURCHASES
Can take a number of different forms:- Not having a follow up plan based upon the data generated- Not using data to develop predictive models- Not joining different data sets for more in depth analysis and
insight
FOLLOW UP OPPORTUNITIES
JOINING DIFFERENT DATA SOURCES TOGETHER FOR DEEPER INSIGHT
3rd Party Leads
SEM
Behavioral
Data
Website
DMS
CRM
LEARN MORE ABOUT YOUR CUSTOMERS
>60%OF CUSTOMERS DON'T
FOLLOW MANUFACTURER
RECOMMENDATIONS.
Dealer Marketing Magazine
So why do our lifecycle communications assume that all vehicle owners behave exactly the same way?
Demographic data is not enough. Intent must be taken into account.
Smart use of data will predict when each customer is likely to service within the next month. Same for likely to purchase.
ARE YOU THROWING GOOD MONEY AFTER BAD CUSTOMERS?
$ $$ $$$ $$$$
MAKE THE MOST OF YOUR MARKETING DOLLARS
42%OF VEHICLE PURCHASES
44%OF SERVICE
REPAIR ORDERS
44%OF STORES
GROSS MARGIN
IN AN IMPORT STORE*, THE TOP 20% OF CUSTOMERS CREATED:
*During a 6 month period
Look at all of your marketing and advertising activity in one calendar.
Leverage Tier 1 and Tier 2 advertising support to your advantage.
+Banners & Digital Assets
+
DAY OF SEND
COPY OF ADS
TIME OF SEND
SUBJECT LINE
COLOR OF BUTTONS
SHAPE OF BUTTONS
ETC.
CASE STUDY: Day of Week Testing on a Newsletter
Open Rates Increased by
11.15%
3 Birds Marketing
SMALL CHANGES,
BIG DIFFERENCE.