- Builds Customer Loyalty
- Generates Business
- Identifies Dealership Assets
- Improves Dealership Experience
DealFinder can Bring You More Business with our Marketing Tools
DealFinder offers equity marketing as a tool for dealerships to use in order to generate more business and maintain customer loyalty. Dealers are always looking for less expensive and more effective ways to advertise. With our marketing tools, you can reach those that may have just come in to look, but did not complete a purchase. Our automotive BDC aims to recognize a dealer’s assets, maximize revenue-generating opportunities through sales initiatives, and build up customer loyalty. Overall, it will create a better, more improved experience for your customers. Contact us today to find out more about our marketing tools.
Equity Marketing from DealFinder Brings in More Business
DealFinder offers equity marketing as a tool for dealerships to use in order to generate more business and maintain customer loyalty. Contact us today to find out more about our marketing tools.
Increasing Your Auto Dealership Business and Brand Equity by Marketing
Published by Keith Shetterly on October 6, 2015
What is Equity Marketing?
Equity marketing can help you increase the success of your auto dealership by helping showcase the value of vehicle brands. Customers associate the manufacturers’ names with your dealership, creating a perceived value based on the name. This type of marketing relies on establishing customer relationships and understanding how different segments of the population have unique associations with the brands.
Bumping Up Profits
Switching to an equity marketing state of business makes you realize that the best cars to have on the lot are the most well-known. By understanding equity marketing, you and your sales team will be more adept at reaching out to niche markets who identify with a certain brand for a unique, specific reason.
Branding and Your Dealership
While manufacturers (and society itself) do the lion’s share of the branding process for vehicles, it’s still up to you to both brand your auto dealership and understand the customer’s goals with different vehicle brands. The sales team should know the brand ideal of each make and model vehicle they have on the lot so that they known the right attitude and procedures to attract the right customers and lead them down the sales funnel.
For instance, Kia’s Soul made the rounds when it first came out as the top vehicle for dog owners. A good sales person would emphasize the sportiness of the model’s exterior and the huge, easy-to-clean cargo space.
Updated by Keith Shetterly on November 14, 2015
The landscape for automotive dealers is changing. While traditional advertising still matters, many shoppers are using their social networks and review sites for help in choosing which dealer best suits them. Millennials and others under age 30 tend to be more cynical buyers who look at more than just a price point when determining who ‘earns’ their business.
These emerging trends are what make equity marketing so important. Equity marketing is the process of determining shoppers who invest in brands or products and then using targeted marketing to reach out to that audience within your customer base.
The Benefits of Equity Marketing
- Raises the reputation of your dealership in your local (and sometimes even regional) community
- Raises your dealership to the top pick list in the targeted shopper’s mind
- Makes advocates out of your past customers who then go out to generate positive referrals and reviews
- Crafts genuine, engaging content that’s applicable to social marketing campaigns
- Increases employee engagement, overall satisfaction, and retention
Think of it this way: Every business makes a mission statement (with so few really adhering to it), but equity marketing is about making that mission statement more concise and directed towards an ideal audience. By then targeting that ideal audience, you focus on quality over quantity. That higher quality garners greater attention which then drives in higher quantities.
And while equity marketing has been around since the beginning, it’s only with new CRM software tools that dealerships have been able to really tap into the possibilities. Using updated CRM tools, dealers can take full advantage of equity marketing techniques and identify key shoppers most likely to both purchase a new vehicle and generate further leads.