If you love cars like I do, the image of this car caused a slight pause as you scrolled down your newsfeed. It caught your attention for a split second. In social marketing that is all you have. A split second. One split second to get the customer's attention before they flick right past your ad.
I remember back in the day when I first started in this business, dealerships ran a lot of traditional advertising. Before the days of targeting "in-market" shoppers online. Dealers couldn't filter everyone down to just the people out shopping right now. This ended up generating a lot of "emotional" buyers, people who saw the ad and decided it was time to purchase because of the ad they had seen.
As dealers spend more and more money generating these "in-market transactional" shoppers, the competition has become stiff. The customers coming from this advertising strategy want you to give them the car and lose money on the deal in many cases. Dealers are forced to keep lowering their prices or these customers will go to the dealer down the road. How much longer can we continue to lower the prices?
It doesn't have to end like this. We don't have to drive our industry into the ground in this race to the bottom we are in right now. You may ask yourself, "How can we do something about it?". The answer is simple. Fall in Love With Cars Again! Stop looking at customers transactionally and only advertising to the transactional customers.
I always explain Facebook Lead Gen ads like this.
It's like a never-ending billboard on every road in your town, that always has rush hour traffic and throws leads at you all day like a monkey.
TECOBI has now generated over 200,000 leads from Facebook Lead Gen ads in the automotive space. The one thing we have noticed from analyzing the data is the leads are heavily "emotional buyers". From analyzing the data, we estimate it to be 80% emotional and 20% transactional.
Well great, now we can all just advertise with Facebook ads and the problem is solved? No, not so quick. Most dealerships today are structured to work with transactional buyers. People who have already made their mind up to buy a car and just want the lowest price.
These emotional buyers from Facebook are completely different. They require finesse to get them into the store. They require us to go back to loving the vehicles we sell and letting them feel that through our pitch on the phone and in person.
They require you to slow down and become a sales person again. Not an order taker. You can't use the same scripts and tactics you use on transactional customers. Your process needs to change to accommodate this new type of buyer, which isn't really new to us that have been doing this a while.
Customers still LOVE cars. They are out there. You just have to find them and make them fall in LOVE with the vehicle. The upside to this is, your gross and bottom line at the end of the month will thank you.