Published on June 30, 2009
Marketing in a Recession Jayco Dealer Homecoming June 2009
Challenges The obvious: > Tighter budgets, budget cuts > Slump in disposable incomes > Decline in consumer spending > Longer sales cycles > Lower lead close rates
Opportunities Success depends on your ability/willingness to evolve, respond, and capitalize > Growth of your market share > Growth of your “voice” in the marketplace > Development of better customer relationships > Build your brand equity - awareness for your dealership
Importance of Marketing Businesses that aggressively market themselves during down times come out stronger after recovery.
Key #1: Spend Smarter Marketing ROI - not from spending more, but from spending smarter > Identify core customers Who’s NOT a core customer? Think beyond past and current customers > Focus on core products - What is your niche?
Key #2: Focus on Value In a recession, value is most important to buyers > Refocus or deﬁne your competitive advantage based on how you oﬀer more value > Be a “Low Price Leader” based on the value you oﬀer, not simply the price you oﬀer > Avoid the middle > Have a clear and sharp value preposition
Key #2: Focus on Value 5 things customers equate to value > Makes the customer money > Saves the customer time > Allows the customer to avoid the frustration of doing stuﬀ they don’t enjoy > Helps the customer save money > Helps the customer feel better about themselves
Key #3: Be Flexible & Creative Unique marketing approaches Alternative revenue generators > “Trigger” marketing tactics > Parts/service > Interactive marketing > Rentals > Partnerships > Storage > Events > Cleaning
Key #4: Sharpen Your Pitch Evaluate your current marketing message (logo, tagline, website, materials) > Is your pitch relevant for RIGHT NOW? > Do you integrate your value preposition? > Geared towards your core customers? > Emotional connection
Key #5: Communicate Marketing is a two way street, talking AND listening > Talk to sales prospects, ask them about their challenges, needs, plans - Proﬁle your customers > Use technology to listen. What are people saying about: Your dealership? The products your carry? RVing, camping, the outdoors? The economy? > Respond
Key #6: Be Aggressive Now is the time to make a move > Do you have a “shaky” competitor? Take advantage of their lack of preparedness Pinpoint their customers > Be committed to growing your market share > Take advantage of the decrease in “noise” > Market consistently
Tools: Testimonials Give prospects a “reason to believe” > Prospects are more likely to trust someone else’s opinion of you (or your dealership) > Generate “legitimacy” > Workable in a variety of mediums
Tools: Your Website The average car buyer checks the web 7 times before talking to a dealer > Make your website a resource > Provide relevant and current information > Specials, oﬀers, features > Communicate your marketing message > Create a two-way conversation
Tools: Social Media Advantages Options > Cost eﬀective (FREE) > Facebook > Huge reach > Twitter > Connect instantly > Yelp with prospects & > Flickr customers > Digg > Personal, customizable
Tools: email Advantages Options > Cost eﬀective > Campaign Monitor > Easy to track - stats > Constant Contact > Easy to follow-up > My Emma > Provide a wealth of > Dealer Marketing information Services
Final Thoughts 1. Recession presents challenges, but creates opportunities 2. Marketing in a recession > Spend smarter > Evaluate your “pitch” > Oﬀer value > Communicate > Be creative > Be aggressive 3. Harness new technologies, capitalize on cost eﬀective options
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