AM News Show: Auto Retailers Need to ‘Constantly Turn the Dials’ to Maximize Marketing

Auto retailers must “constantly turn the dials” in their marketing strategy to avoid overreliance on a single supplier, maximize conversion and minimize cost per sale, AM News Show said.

Ian Godbold, Marketing Director at Cambria Automobiles, joined Hendy Group Marketing Manager Vicky Hart as the couple shared insight into how they honed their car retail businesses’ exposure to consumers buying cars amid an accelerated transition to online retail, the impact of disruptors including Cazoo and cinch and the escalating cost of living crisis.

Attribution and ROI emerged as key priorities for AM100 car retail group marketing departments during discussion with FA Editor Tim Rose and News & Features Editor. Tom Sharpe reporting.

Godbold said advancements in how retailers and automakers reach out to consumers have made the industry less dependent on classified platforms. He said: “If you just sat there and looked at it and said where my last click was, you’d only ever be on Auto Trader and that’s not how it works, you need that marketing mix and know that your marketing mix is ​​effective and almost constantly turning those dials to increase conversion and reduce cost per lead and cost per sale.

Hart said, “I think as our approaches to marketing become more sophisticated, the last-click attribution model no longer works. What we need to recognize is that each of the channels we use as part of our marketing strategy has its place in the funnel and then we need to compose our marketing budgets to recognize where our conversions are coming from and what value we grant. on driving consumers through this funnel at different stages.

In the latest 30-minute AM News Show podcast, Godbold and Hart also reflected on the impact of COVID-19 and online disruptors on the auto retail industry in recent years.

Hendy Group Marketing Manager Vicky Hart on the AM News Show podcastHart said: “I think we would probably all recognize that the pandemic has accelerated everything we do on one and as an industry, as a business, we have risen to the challenge. We thought about how we do business, our processes and actually said to put digital first.

“We have proven how agile we can be.”

Godbold said the entry of companies like Cazoo and Cinch into the market has proven to be “good for the market”. He said: “It has accelerated the business and the competitors and it’s great now. You now have a full omnichannel strategy with live and offline, so it’s a place that’s changing and getting faster. »

Earlier this week, AM released its other recent AM News Show podcast episode, featuring Arbury Motor Group Managing Director Ben and IMDA co-founder and Specialist Cars owner Umesh Samani.

In this episode, Archer concluded that franchise car retail must find new “middle ground” to maintain profitability and high levels of customer service when the vehicle supply crisis finally ends. .

Produced in association with Armchair Marketing, the AM News Show is now available via Youtube, with an episode catalog accessible via AM Online here.