Archives For March 2013

You Have A Lot of Work to Do.. – Automotive Digital Marketing Professional Community.

 

You Have A Lot of Work to Do..

Last month, my focus for the article was on “why” today’s automotive professional needs to build a personal brand.  Now that I’ve convinced you that it’s an amazing idea that will help you dominate your marketplace, I’m going to go into more detail on how to develop yourself into the recognizable, reliable name that people can count on.

First thing’s first:  GOALS. What are your goals? What are you looking to accomplish with your brand?  Of course you want to sell a lot of cars – there are a million ways to sell a lot of cars without committing to investing a large chunk of your time and money into a personal brand.  For example, my goal is to be the name in my area (target marketplace) that people think of when they hear words like Hyundai, new car, great customer service, educational, quick and hassle-free, car shopping experience, etc.  They have no choice but to think of me.  I want my brand to be stamped into their brain from an exceptional experience that they personally had with me, or someone they know told them that they had with me.  They could have read about great experiences with me on the internet, or social media platforms.  I want my name – my brand to be everywhere that those key topics are discussed.  You with me so far?

Next.  AUDIENCE.  Figure out who and where your audience is.  This is also called your target market place. (our geeky internet terminology)  Where do the people live that you are selling yourself as a brand to?  What are they looking or shopping for?  Who are these people?  What is their age range?  Are they male or female? All of these answers should be readily available to you with little effort.  This should be pretty self explanatory.  If you know your product and know what you are selling then obviously you know who you are selling to.  We’re in the car business people.. our manufacturers spend ridiculous amounts of money and consult experts in this field figuring out the majority of our target marketplace FOR US.  Tap into these resources.   This one is kind of a no-brainer.  In order to sell your brand to the right kind of people you need to know your brand and yourself.

Which brings me to number three.  KNOW WHO YOU ARE. What makes you unique?  What do you bring to the table (or can you bring) that is going to set you apart from the rest of the sales associates in your area?  Lyndon B. Johnson once said “What convinces is conviction.”  You have to believe in yourself, your goals, and most importantly – your product.  You can’t be the milkman delivering pizzas.  BE REAL.  If you’re not driving what you’re selling, I’m not sure who you’re trying to fool.  Wake up.  If you don’t personally want to own what you’re selling buddy  you’re in the wrong business and you definitely can’t be the expert.  If you can ‘t close yourself on a payment that you supposedly can’t afford, how do you ever expect to convince your customers to do the same thing?  If you truly believed inside of you that your product was the best overall value YOU AND YOUR ENTIRE FAMILY WOULD HAVE ONE IN YOUR GARAGE!  Why are people going to come to you, across town, instead of someone who is right across the street?  You need to know exactly what you are offering.  Sit down and make a list!  What can you consistently deliver over and over again that will set the bar just a little bit higher; however – most importantly- is GENUINE and REAL.

Once you set your goals – know who you are selling to and what you truly are selling – you need to BUILD YOUR PERSONAL VISUAL IDENTITY.  Some of you may refer to this as a logo.  As I mentioned before, logos are not necessarily imperative; however, they are strongly recommended.  What is the first thing that you see in your head when I say “Apple?”  THE LOGO.  If you can successfully and consistently complete the previous steps, then you need a visual aid to add to the value of your consistent and genuine brand name.  Like I said before, KNOW WHO YOU ARE.  What is a symbol of who you are?  It can be simple.  It can be complex.  All that matters is that it represents you and your commitment to being the brand that you have made for yourself.  For example:  Look at my stunningly handsome headshot above.  I wear glasses.  I make them look good.  I have several different shades, shapes, brands, and styles of geeky, thick-framed glasses that are as much a part of me as the service that I offer to my customers.  When anyone sees the logo on my cards, mailers, pens, brochures, websites, stickers, magnets, etc., they always make a comment about how amusingly it reflects who I truly am.  Nobody knows the real you better than you…well, or at least they shouldn’t.  Anyway, the point is:  Spend some time thinking or consulting with others (who know you very well and their opinion is valued) before you decide on a logo – should you decide to embrace this part of your own brand.

Ok, I know this all sounds like  A LOT of work.  Not gonna lie to you – it is.  Keep chasing pavement on that lot if that’s your choice.  If all of this sounds overwhelming, you haven’t seen anything yet.  I’m just getting started!!  We haven’t even touched on how you market this brand that is essentially, basically and most importantly, YOU.

 

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As part of its Q4 2012 Email Marketing Quarterly Benchmark Study [download page], Experian Marketing Services has analyzed the best time of the day to send emails.
Experian cautions automotive marketers by pointing out that the data is retrospective rather than controlled.  The study included all industry segments, (US based) with automotive being just one of the multiple segments analyzed (Multi-Channel Retailers).  It is wise to note that logic would dictate that optimal deployment timing will vary by industry, and in the case of automotive, perhaps even by brand. But, despite the naysayers that often want to shove their heads in the sand and ignore all objective data that doesn’t come from themselves, it doesn’t hurt to take a look at the Experian study’s results.
Not surprisingly, at least to me and anyone else who has ever used email marketing at a dealership for any length of time, the Experian study shows somewhat of an inverse relationship between email volume and performance.  Plainly stated, the more email a prospective customer receives during any given time segment, the less likely that your dealership’s email will get opened and read… (less results).

For example, looking at time of day, the study finds that a plurality 40% of emails were deployed between 8AM and 11:59AM, with that range accounting for 42% of transactions. But, the 16.1% unique open rate and 2.4% unique click rate of this time period counted as the lowest of the 6 distinct time periods.

To some extent, that could simply be a function of volume, meaning that it could be harder for email marketers to differentiate themselves in the morning, when consumers are receiving the highest volume of inbound emails.

Interestingly, the transaction rate (.13%) in that morning period also was the lowest of any time range, revenue per email ($0.17) was among the lowest, and average order value was middle of the pack, at $174.

When looking at the time of day that got the smallest share of volume and transactions (2% each) – between 8PM and 11:59PM – the picture changes considerably. During this time period, unique open rate (21.7%), unique click rate (4.2%), transaction rate (0.34%), revenue per email ($0.48), and average order value ($246) for eCommerce businesses submitting data were all considerably higher than during any other time of day. Experian doesn’t offer any suggestions as to why this might be the case, but it could be related to consumers simply being more engaged at that time of the day and more apt to submit an inquiry (lead) or spend money.

 

The Experian report also analyzes performance by day of the week, finding again that the days with the lowest volume of emails (Saturday and Sunday) boasted the best response rates (each with a unique open rate of 17.8% and a unique click rate of 2.9%). Saturday (9% of email volume) also sported the best lead submission (CPA) and transaction rate (0.16%) and revenue per email ($0.20), although average order values lagged for the eCommerce businesses submitting their data.

Regardless of the specifics by industry, region or brand, what the Experian study clearly shows is that when it comes to car dealers using email marketing, timing does effect an email campaign’s performance. The actionable item for car dealers reviewing this information is to start comparing results from your email marketing campaigns using the metrics that Experian has identified, such as open rates, click through rates and engagement rates (inquiries/leads submitted). Identify the best time segments and days of the week for your dealership, your brand and your location to get the optimum results…

Just remember what Digital Ralph has said hundreds of times; “Random is the Opposite of Optimized”.  Don’t let random selection be the means by which you time the deployment of your email campaigns, know the nest days and times to deploy campaigns by their offer type and targeted audience, then put planning in place to ensure that your dealership’s email campaigns are deployed during those optimal day and time segments.

Data Source 1: MarketingCharts.com/most-emails-deployed-in-morning-best-results-se…

Data Source 2: Experian.com/email-marketing-quarterly-benchmark-study-q4-2012

ADM Professional Community members can download the Experian Research report in PDF document format using the following link: 

Email-Marketing-Benchmark-Metrics-Study-Q4-2012.pdf

Can Car Dealers Use Twitter Promoted Tweets To Drive Traffic and Calls? – Automotive Digital Marketing Professional Community.

Twitter Says Promoted Tweets Are Working for Businesses, Including Car Dealerships…

Twitter has released some initial findings from its Nielsen Brand Effect for Twitter beta survey tool, which allows advertisers, including car dealers, their marketing service providers and OEM advertising agencies to measure the impact of their Twitter campaigns on traffic, awareness and branding performance metrics. The results suggest that “Promoted Tweet” campaigns have had their intended effects, driving greater message association, campaign awareness, dealership location association, brand favorability, and purchase intent.

The study cites as validation that across the beta results analyzed, users exposed to a Promoted Tweet impression had an average 22% higher message association than those not exposed to Promoted Tweets. Whether this association can translate into click through and traffic generation remains to be seen.

According to Twitter, the data supports their strategy for automotive advertisers that while Promoted Tweets are priced on a cost-per-engagement basis (similar to Pay Per Click), advertisers can also benefit even when users don’t engage.

In other positive results touted by Twitter, multiple exposure to a Promoted Tweet campaign generated an average 10% lift in make, model or dealership brand favorability versus those exposed to the campaign a single time. Finally, those who engage with a dealership or car company’s Promoted Tweet report a 30% higher brand favorability and 53% higher purchase intent than non-engagers.  Although it seems to me that this could be attributable to a predisposition of those who engaged with such promoted tweets having an affinity for the make, model or dealership in the first place…

One of the most exciting developments is that the completion of the study has triggered Twitter moving the capability out of beta status and opening it up to automotive marketers and advertisers in the US, UK, and Japan.

Promoted Tweet exposure drives stronger message association.

Across all the Twitter beta studies analyzed, exposure to a Promoted Tweet impression drove a 22% average increase in message association compared to users not exposed to Promoted Tweets. This finding demonstrates that, although Promoted Tweets are priced on a cost-per-engagement basis, advertisers don’t only benefit when users engage. Even a Promoted Tweet impression can be valuable for brands.

Brand lift is amplified by multiple exposures to Promoted Tweets.

Multiple exposures (two or three times) to a Promoted Tweet campaign lead to 10% lift, on average, in brand favorability compared to users exposed to the campaign once. This illustrates the value of an always-on Promoted Tweet strategy to continually reach interested users with brand messages.

Engagement with Promoted Tweets translates to higher brand favorability and purchase intent.

Users who engage with a brand’s Promoted Tweet report on average 30% higher brand favorability and 53% higher purchase intent than non-engagers. This study result highlights the value of an engagement on Twitter and the importance of reaching a relevant audience with compelling Tweet copy to further drive Tweet engagement.

How brand surveys on Twitter work 

To create a user experience that feels native to the Twitter platform and increases the likelihood of participation, brand surveys on Twitter are embedded within Tweets. Unlike other major publisher platforms, Twitter does not require a click through to an external site or interrupt the user with a pop-up. Another unique feature of the Twitter brand surveys: advertisers are able to measure and compare survey responses from users who have been exposed across devices – desktop, tablet and smartphone.

More information about how the surveys work can be found here.

Data Source 1: MarketingCharts.com/promoted-tweets-are-working

Data Source 2: Nielsen-Brand-Effect-for-Twitter-How-Promoted-Tweets-impact-brand-m…