3 Key Strategies for Dealers to Effectively use their Digital Marketing Budget.
As the calendar year resets, it provides a moment to reflect on the last year’s digital marketing work. Taking this time to determine what can be achieved with a fresh budget can help start the year on a positive note. Here are some ways to most effectively use your digital marketing resources:
Do a Little Housekeeping – Revisit the last 12 months to determine what advertising strategy, campaigns, tactics, and tools have worked (or didn’t work) and where to rebalance the program moving forward. Understanding where resources are going for all marketing activities helps to determine if the appropriate emphasis is being placed in the right spot.
Analyze Current Customer Traffic – While reviewing metrics to analyze performance, it is also critical to take a step back to understand the source of traffic to your website and store. As consumers rely more and more on their phones, it’s important to invest where they are spending their time. Increasingly, consumers are streaming content directly from their mobile devices and video streaming applications. Google reported that watch time of “test drive” videos on YouTube has grown by more than 65 percent in the past two years. Staying on top of these trends is key to staying ahead of the competition.
Experiment with Short Term Pilots – Leverage the expertise of a digital marketing partner to gather recommendations on where you can expected to gain the most return for your money. At Shift Digital, we often identify ways for clients to participate in short term pilots to test out new tools and tactics for engaging customers. Partners can make strategic recommendations based on budget, business size, and what programs may already be running. These moments can be a great opportunity to try new tools, messaging platforms, to see how it can complement an existing digital marketing mix.
As digital marketing continues to evolve at a rapid pace, its important to review recent work, rebalance resources, and test new tools to stay ahead of trends in the marketplace and buying behaviors.
