Entries in Social Media (84)
If you have been in the auto business for a few years you surely remember and certainly used print classified ads to sell vehicles, especially used vehicles.
Those were the good 'ole days when everything was easy (presumably), simple, and straightforward, compared to today's complex technology, social media, engagement, digital front lines, text messages.
Lets see if we can connect a few dots from back in the day and their relevance to today.
Platforms: Which print platforms to use, what language, distribution.
Format: A cost effective list, a brand building display, a combination, and what frequency.
Position: Where was the ad going to appear in the platforms. Positioning provided an advantage.
Frequency: How often, which days.
Response: How fast a response for a specific ad.
Production: The time to produce the various ads, from fast for a list, more time for a display, to time and production costs for a glossy display.
Mix: What print platform mix for the month, local paper, used vehicle platforms, New York Times, DuPont.
Budget: How much money available for the year, month, week.
Strategy: Get an "edge" (competitive advantage) on your competition. Discretion was always an inherent part of any strategy..."The moment its out everyone else can copy you".
Time: Yes...it was time consuming, and same as today there was no time. Always seeking to accelerate the cycle.
Metrics: How to measure the effectiveness of the various ads, and platforms.
Scrapbook: Keep the various ads with dates in a scrapbook for reference.
An example from the "dark ages":
The dealer takes a vehicle in trade on a Friday, by the following mid week (usually the cut off was on Wednesday), the dealer places a classified (liner) ad for the vehicle to appear on the Saturday. By the following Tuesday the dealer knows the retail potential of the car in his market at that specific time. We could keep on going ...you surely understand.
An example from "2014":
The dealer takes a vehicle in trade on a Friday, by the following mid week, there is an ongoing discussion about detailing, a photo shoot, uploading photos, disseminating to various platforms. Hopefully by the following Friday the vehicle appears in a few platforms. Hopefully again by the next Friday (2 weeks have transpired) the dealer knows the retail potential. if you get the impression this vehicle is embroiled in a technological ball of grey...you also grasp a few competitive advantages.
It begs the question "How could a dealer in the dark ages that relied on print, a physical front line have a 7 day advantage on a 2014 dealer with the Internet, digital front line, social media, tools to quickly measure metrics".
A possible answer "The dealer in the dark ages was keenly focused on selling vehicles, creating customers, being competitive, and dramatically less distracted by routine technology"
Another possible answer "Few dealers in 2014 are seeking a Cyber Advantage on their competition"
An informative fireside chat on social media and the auto industry, moderated by Chris Baccus (we have known Chris for a few years).
Its Friday, its the Vroom Room, come in make yourself comfortable, enjoy the cappuccino and biscotti, join the conversation.
Its still winter, snow, cold, more snow and cold...usually these climatic conditions are good for the service side of auto business. It will be informative to see how beneficial these winter months have been. Obvious that with most shoppers doing their due diligence from the comfort of home, or a smart device climatic conditions have a lesser impact on the sales side of the business.
Agreed...one still has to clear the snow...and pile it up, or by now have it trucked away.
Fascinating to see how Packard dealers used social media almost 3 generations ago. A case of this stuff is old, this stuff still resonates...informative and cool how some things do not change.
You have to wonder with all the technology, all the social media, if the auto business at the retail level is truly grasping "Acceleration of Cycle Times"...even if many folks are talking about it in varied morcels of thoughts. In simpler terms..."The faster you sell it, the better it is"...obvious its not that simple or it is that simple.
One question that constantly swirls around...how come some good to exceptional vehicles do not sell as well as they should? The actual product benchmarket against the immediate competition is simply spectacular with a strong value proposition. When the rubber hits the road...something happens and it does not sell as well as the vehciles it was benchmarket against.
The Canadian Women Hockey Team at the Olympics, what can you say...when you are destined for Gold you get gold.
Our usual old cars and race cars go for a walk through Retromobile in Paris.
Gotta love the nostalgia...and social media from a few decades back.
Some stuff is enduring...