Professional Network for Best Practice Marketing Strategies and Tactics
Automotive Social is a professional network and "Best Practice" exchange for high performance strategies and tactics used by Car Dealers.
There are several benefits to having a strong social media presence. It's great for branding. It gives you a two-way communication avenue with customers. The public relations component can be very powerful.
All of these are secondary. Don't get me wrong; I'm definitely not suggesting that there's no value in these important components. However, the real juice with social media comes in the form of hyper-targeting and driving those shoppers to your website in order to sell them a vehicle.
That's the point, right? We might love to get involved in the community or be a resource that localizes the latest OEM news, but at the end of the day we're here to sell more cars. That's why it's so very important for dealers to take advantage of the targeting and…Continue
Can you actually profit off your lease? You can, but it would likely need to be a truck. Swapalease.com, the nation’s largest online car lease marketplace, believes lessees in certain trucks still hold a positive equity position with a few months left in the term. In fact, the company believes it is a large reason why demand has increased for truck leases with less than eight months on the contract.
Compact SUVs and all Pickup trucks have held strong pricing positions through the life of their three-year lease terms. Drivers of these vehicles are seeing similar lease-end equity positions felt by drivers of fuel-efficient vehicles three-to-four years ago when those vehicles were in demand by dealers. Today, a still-strong used-vehicle market has continued to drive dealer demand for trucks in good condition. Since most leases are less than three years old with 36,000 miles or less, dealers are offering aggressive buy-back deals to consumers.
The bad part about search engine optimization in the automotive industry is that there are so many companies that report on what they do for SEO rather than what they're accomplishing with their efforts. We've seen this hundreds of times when bringing on new clients and it's time to set the record straight.
It isn't hard to track the key performance metrics through which to hold your SEO or website vendor accountable. The most important thing to remember as the client is that you should have control over the data that you want to receive in reporting. That's the whole point. Letting them show you what they want you to see is not as effective as letting them know what you want to see.
There are plenty of things that go into SEO that a dealer could ask for in reporting, but I've broken…Continue
Thanks for tuning into this week’s edition of Beggs on the Used Car Market, with data and insights from Ricky Beggs and Black Book.
The movement in the market continues, and pretty much as was expected. The average segment change for both the cars and the trucks was at -$73 and -$64 respectively, a greater decline for both pieces of the market than the prior week. For the cars it was a very similar change level to the year ago period of -$77, while the trucks had the largest average segment change level since the week of February 21, 2014. This level of change within the trucks did not really occur with any consistency in 2013 until a little later in the year, around the middle of October and first part of November. We will keep our attention on these segments to see if this level of change will continue overall through the remainder of 2014.
This past week’s level of change…Continue
24.9% of all car loans were 73 to 84 months long during the first quarter of 2014 according to Experian. This number continues to grow compared with just a few years ago. And while delinquencies are still at historic lows, how can auto lenders determine when vehicles entering their portfolio are expected to reach a position of equity?
Black Book is working with auto lenders to take a close look at comparative collateral data in order to spot this trend. The company recently leveraged its Collateral Insight Engine technology to compare two different vehicles based on the exact loan terms of 72 months, 5% interest and a 120% loan-to-value ratio.
Based on the data from the example, one achieved a positive equity position in just 37 months, a whole 15 months earlier than the other vehicle (at 52 months). What’s more, the first vehicle had approximately $3000 more equity by month 24 versus that of the second. Knowing the potential loss-given default provides the…
There are muffins, and there are great muffins. The kind we get our of a plastic package from a vending machine or at a continental breakfast at a hotel usually meets the hunger requirements, but it's usually not exceptionally enjoyable. Compare that to a muffin from your favorite bakery and the experience can be like night and day.
Why is that? They have the same basic ingredients. There's the freshness component, but even packaged muffins are usually not that old because the shelf-life is so short on them. It really comes down to the way that they're prepared and baked. It comes down quality.
The difference between muffins is like the difference between customer database marketing solutions. When I speak to dealers across the nation, there is a good number of you who have some…
The words "big data" have been buzzing around the marketing and advertising world for a few years now. Technology has made it possible to do things with data through analysis and proper utilization that weren't very easy a decade ago. It's a good thing, but it's not enough.
In the automotive industry, we see it used for everything from conquest sales to social media promotions. There's nothing wrong with this except for the fact that most in our industry are only seeing the tip of iceberg. Big data is great but the latest advances in technology make it possible to take advantage of both "big data" as well as "better data".
Many dealers are starting to see the benefits of using their internal databases to drive continued business with the dealership. It's great to go out…
I had a discussion with a client of ours about LotLinx. For full transparency, we partner with LotLinx to resell their service to our dealers. This was a concern because we had made recommendations to them in the past from companies that we did not partner with and the dealer wanted to know if I could remain unbiased as a reseller.
Anyone who has been following Dealer Authority since we launched last year knows that we research dozens of companies in hopes of selecting who we believe is the best at each digital marketing discipline. Our core products are social media advertising and search engine marketing, but we're often asked by our clients about other services, so it makes sense to be aware of…Continue
Is it time the auto industry got serious about a used lease program that mirrors the effectiveness of the CPO programs? Scot Hall, EVP at Swapalease.com, who has been talking about the need for a used lease program, especially based on recent trends in the auto industry:
Welcome to this week’s edition of Beggs on the Used Car Market, with data and insight from Black Book on the used car markets. The opening week of college football brought mostly expected results along with a few surprises, and this Bulldog is pleased. And as the new car sales totals were reported this past week, most every manufacturer, along with the franchised dealer body, is pleased with their performance as well. Part of the sales success this past month, and for all of 2014, can be attributed to lease penetration continuing to prosper, as Experian data just reported that 25.3% of all sales were financed as part of a lease contract. This also means used supplies continue to increase, lowering the level of aggressive bidding as there are more desirable units to choose from.
Even though it was a short week due to the Labor Day holiday, there was plenty of data…Continue
Banking the with the most competitive Automotive Floor-Plan Lender will increase your profit marginWe offer Franchised and Independent Auto Dealers integrated financial solutions to help you sell…Continue
Recently, AutoTrader.com ran their own survey of 1,900 car buyers (300 of which were millennials) and came to the conclusion that "just 1 percent of car buyers use social sites to shop for a…Continue
Greetings everyone. Our company - Social Auto Leads - is putting together a report on the state of social media within individual dealerships. If you would like to participate (either anonymously or…Continue
Visit Northtowne Mitsubishi Kansas city to learn about new Mitsubishi, used car & auto repair. Premier KC Mitsubishi dealer providing the 2013-2014 Lancer, Outlander, Mirage, lancer Evolution,…Continue
Northtowne Mazda website offer you cars like the 2014 Mazda Mx-5, a crossover like the CX-5, or an ultra-efficient passenger car like the 2013 Mazda6 & 2013 Mazda3, our website offers an…Continue
FaceBook, Twitter, Google Plus and some other social media sites are being used by businesses for quite some time now. Even I am one of those but do these sites really help your business is what I…Continue
Everyone wants to increase sales, so what is NEW in your marketing plan to help you reach your 2014 sales goals? Do you have any of the following 7 strategies in your marketing mix? If so, which…Continue
Look in the bottom right hand corner of the search image above. Those are other dealers listed as options under their Google Local profile…Continue
5 questions about $5 Craigslist postingWith Craigslist now going to charge $5.00 per car ad posted how do you feel this will affect your business? What do you plan to do to replace the lead volume…Continue
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