Car dealers have no shortage of choices when it comes to how to spend their money. The growing need for "smart dollars" to help dealers achieve the highest ROI is making it necessary for stronger data discernment.
We all have the data available to us. Sometimes, there's too much data. It's important to break it down in a way that is meaningful and allows dealers to take actions based upon where the numbers are pointing. This can be in the form of targeting locations, parsing out individual models to focus on through different channels, and putting dollars towards online and offline venues that reach a particular demographic.
An article we read from String Automotive breaks it all down very nicely. As they put it, there are decisions that are made at the macro level and decisions that are made at the micro level. It's not just about picking out the right vendors or putting more or less dollars to different marketing channels. It's about identifying how best to position every dollar spent so that the maximum return on investment can be achieved.
One of the most important things to consider when you're building and enhancing your strategies is that the data allows for decision making on the macro and micro levels. We see trend reports, analytics, and test cases that can influence decisions on both sides of the spectrum.
Dealer no longer have to be in the dark with their advertising. With the right data and an intelligent engine deciphering it, car dealers can know where and how to spend their budgets to get the most for their bucks.
Read more on String Automotive.