Dealers Powering Up Online Marketing, Survey Says
Nearly 75 percent of dealers surveyed by AutoUSA say they will either spend as much as planned or more this year on Internet marketing.
FORT LAUDERDALE, Fla. — Despite the sluggish summer, dealerships aren’t putting the brakes on their Internet marketing spending, according to a new survey by AutoUSA Internet Sales Solutions.
In fact, 72 percent of the 151 Internet marketing managers surveyed said they don’t plan on cutting back on their Internet marketing budgets this year. However, respondents did indicate that they continue to seek out way to be more efficient and effective with their advertising.
Results from the survey, conducted from mid-August to mid-September, also revealed that staffing continues to be challenge Internet managers.
Fifty-three percent of respondents also indicated that they would be willing to cut back on traditional advertising, with 40 percent of dealers saying they plan to increase spending on social media and reputation management. Thirty-four percent said they plan to increase spending on SEO/Website marketing, while 23 percent said they plan to increase spending on third-party leads. Only 15 percent of respondents indicated that they plan to spend more on traditional advertising.
“What is the biggest sales objection you are currently hearing from customers?” |
Didn’t have desired model available: 25 percent |
Can’t afford a new vehicle: 14 percent |
Can’t get financing: 20 percent |
Consumer confidence with current political situation: 22 percent |
Not getting the price they want from dealership: 10 percent |
“What are the biggest challenges for your Internet marketing departments?”** |
Keeping up with lead volume: 31 percent |
Quality of staff: 28 percent |
Staff’s failure to adhere to written processes: 23 percent |
Lack of management buy-in: 21 percent |
Lack of staff accountability: 15 percent |
Lack of staff training: 15 percent |
**Additional responses included “other” at 15 percent that included a mix of responses about quality of leads, lack of inventory and staff morale, and finally, high staff turnover at 11 percent, according to AutoUSA.
“How is the current state of the economy affecting your Internet marketing budget decisions?” |
49 percent plan to spend the same amount as originally budgeted this year |
31 percent say they are cutting back on planned expenses |
23 percent say they plan to spend more than originally budgeted this year |
“What do Internet Managers Want Most From a New Product or Service?” |
Getting customers into the showroom: 47 percent |
Additional sales volume: 28 percent |
More Auto Finance
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →