Go Digital or Risk Extinction
Dealerships are at risk of going the way of Kodak. By clinging to the traditional way of doing business, they're missing out on huge opportunity and practically inviting startups to come in and disrupt their space. In particular i'm speaking in regards to the way they reach out, attract, and engage with new customers.
Customers are making decisions In A New Way
As of 2017, 90% of purchase decisions are now made online, failing to create a powerful presence in this space will have dire consequences. In the short term, this will result in countless customers and deals lost. In the long term, it will result in the downfall of the dealership as we know it, as startups work to bring high-tech into the world of automotive sales.
Let's Get Specific
Online presence is a broad term so lets narrow it down. The quantity and quality of your online reviews, social media profiles, and business listings all play a role in how customers find your dealership online. These key factors also play a role in helping customers decide how they feel about your business. As in, do they trust you and are they willing to spend their money with you?
So you might be asking... how are dealerships loosing millions of dollars each year? Recent studies show that businesses with a positive online presence generate between 5 - 9% each year. Now every dealership is different, but lets just assume your dealership generates about 2 million per year in gross revenue. A 5 - 9% increase would equate to roughly between 100,000 - $200,000 dollars a year. Multiply that by the number of dealerships in Canada with a weak online presence , and I promise you the number will be in the hundreds of millions if not billions. That is quite an opportunity.
How your dealership can capture a slice of that million dollar pie!
First and foremost make sure your dealership comes up on google with an accurate location page, relevant pictures, and most importantly positive reviews. Google reviews are king! Not Reviewsii, or any other self contained review platform. Google reviews will boost your rank in search by as much as 25%! They are also the most trusted and most frequented review score visited by consumers.
Now if you have decent google reviews but you have not received any new ones in a while, it's time to put a strategy in place to collect more. Dozens of great strategies exist, and we're happy to point you in the right direction if you shoot us an email at email@example.com
The next thing you need to do, the thing that 99% of dealerships fail at, is build a powerful and dominating social media presence. A strong social media strategy across as many relevant platforms as possible will be crucial to your online success. It will increase your rank in local search, increase relevancy, validate consume decisions, and increase brand awareness. I could write a book on social media strategy, tools, and hacks, but lets just save that for another day. You know how to reach us for more info.
The last and simplest tool to get a slice of that million dollar pie is business listings. Business listings are simply places online that list your business information. If these listings have inconsistent information, or missing information, your relevancy in local search and overall SEO will suffer. Make sure you frequently browse the top 10 Canadian listings sites, and check for correct business data.
For any questions or advice, get in touch with our team - Info@SuitsSocial.com
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