Not your customer? Not a problem.
With declining brand loyalty and increasing customer expectations, every sale is a hard-won battle. Every win could be considered a conquest.
True conquest marketing means trying to win the business of anyone not part of your customer retention marketing plan. While easy to explain, it’s harder to execute.
Successful conquest marketing requires a deep understanding of your market and your competition. You can’t win the battle if you don’t know what you’re up against.
- Even if overall vehicle sales are fine, could your market share be better?
- If shoppers aren’t buying from you, where are they buying?
- What are your competitive disadvantages and how can you combat them?
Knowing the general characteristics of shoppers in your area helps you tailor your marketing and your inventory mix. An audience that is married and approaching retirement age has different vehicle needs than young, single buyers. Rural areas will sell a different type of vehicle than larger cities, but even cities vary with commuter habits and public transportation. If you know the key demographics of areas you want to win, you are one step closer to taking the business.
Market sales data
If the market around you is taking off and you aren’t growing with it, you are the one being conquested. To measure success, you need to know how many new cars were registered in your market area. Of those, you can compare how many were your make, and how many were sold each of your competitors. See if your area’s fastest-selling models align with your own and align your marketing with local demand.
Your dealership can advertise on Facebook to people who aren’t your customers, but behave like them. Lookalike Audiences expand your reach by connecting your dealership with Facebook users outside your network. Use your own customer lists to build an audience of people who are likely to respond to the same type of content.
Not long ago, visitors to your website could sneak away unnoticed without submitting a lead. Now you can continue to work for the sale after they leave with retargeting strategies. Your site visitors will see your ads across other websites and social networks. Use the sales data from your Market Analysis to tailor messages that make your dealership the only choice.
Email and direct mail
Outside your database doesn’t mean outside your market. Using opt-in user data, you can send targeted messages to people you know are in-market. Start simple with zip code targeting to conquer new geographic areas. Then overlay with demographic and behavioral data to deliver offers that speak directly to their needs.