The BIG PICTURE
DB asks: Why is the BIG PICTURE so important?
I asked a client today, what was the most important aspect of his marketing strategy and selecting his partners, and he said very simply... ROI.
I told him that ROI is the most common answer to that question, and then I followed up with these questions:
Q: How do you define marketing success or failure?
A: Again, I want to see an ROI for my marketing dollars.
Q: What % of your entire budget is currently spent on mediums/strategies that are measurable enough to provide you with a report that shows you an ROI?
A: Probably not enough... maybe 30%.
Q: What if we (Team V) can give you a great ROI, but your dealership under performs (as a whole) against the market? Is that still acceptable and good enough?
A: No, I will fire you and look for other strategies or ideas.
Q: Good, so the "real", most important thing is beating the market and as part of that effort, making sure you also get an ROI; but one without the other is not acceptable, right?
A: Right.
Q: Over what period of time do you implement strategies and then evaluate your success, monthly? quarterly? annually?
A: Quarterly and annually, anything you only do for 1 month is stupid.
DB: Great, because I have a strategy (not a quick fix) that is designed to help you out-perform the market 75%-80% of every month you're on it. The best thing is that we have already tested the ROI against 200 dealerships and you will receive, on average, a 4-6:1 ROI. But since ROI alone isn't the long-term answer, let me share how we go about beating the market for our clients.
LISTEN UP TEAM V:
Beating the market is all that matters. If you live & die with a monthly CSR, you will NEVER be in the inner circle of marketing for your clients!
How do we do it? Simple, we focus on a very specific geography that is most vital to our dealership's growth. From there, our data research department picks the very best candidates (HH) to purchase or service new/used vehicles from your dealership.
We grow the backyard first and then work out way out toward the battlegrounds. If you can't grow your most important zip codes, you will have a very difficult time growing your overall business.
BIG PICTURE:
DB
8/20/2008
Click on Link for Sample Stats:
I asked a client today, what was the most important aspect of his marketing strategy and selecting his partners, and he said very simply... ROI.
I told him that ROI is the most common answer to that question, and then I followed up with these questions:
Q: How do you define marketing success or failure?
A: Again, I want to see an ROI for my marketing dollars.
Q: What % of your entire budget is currently spent on mediums/strategies that are measurable enough to provide you with a report that shows you an ROI?
A: Probably not enough... maybe 30%.
Q: What if we (Team V) can give you a great ROI, but your dealership under performs (as a whole) against the market? Is that still acceptable and good enough?
A: No, I will fire you and look for other strategies or ideas.
Q: Good, so the "real", most important thing is beating the market and as part of that effort, making sure you also get an ROI; but one without the other is not acceptable, right?
A: Right.
Q: Over what period of time do you implement strategies and then evaluate your success, monthly? quarterly? annually?
A: Quarterly and annually, anything you only do for 1 month is stupid.
DB: Great, because I have a strategy (not a quick fix) that is designed to help you out-perform the market 75%-80% of every month you're on it. The best thing is that we have already tested the ROI against 200 dealerships and you will receive, on average, a 4-6:1 ROI. But since ROI alone isn't the long-term answer, let me share how we go about beating the market for our clients.
LISTEN UP TEAM V:
Beating the market is all that matters. If you live & die with a monthly CSR, you will NEVER be in the inner circle of marketing for your clients!
How do we do it? Simple, we focus on a very specific geography that is most vital to our dealership's growth. From there, our data research department picks the very best candidates (HH) to purchase or service new/used vehicles from your dealership.
We grow the backyard first and then work out way out toward the battlegrounds. If you can't grow your most important zip codes, you will have a very difficult time growing your overall business.
BIG PICTURE:
- Know the Big Picture for your client.
- Don't get caught up in "no mans land", by getting a good ROI, but not getting enough budget to really grow the client's business.
- Know the client's zip codes and best performers by heart.
- Make sure you have enough budget to adequately market in all the client's best zip codes; you can always add more zips.
- CSR is only a Report Card for an individual campaign, that's it.
- The client's performance in the market (and against his/her historical benchmarks) is the true Report Card for this stratgey.
- Deal with owners, it's their business and their money. Everyone else comes & goes.
DB
8/20/2008
Click on Link for Sample Stats:
http://blog.teamvelocityonline.com/blog-bigpicaugust2008.pdf
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