When it comes to investing wisely in online advertising for your dealership, it all boils down to planning. In order to forecast where to put your money- begin with a review of your goals. Where do you want to present your dealership’s message, who do you want to see your message, and overall – what do you want to gain from this campaign?
Once you have outlined your goals, review your revenue projections. * Keep in mind, you must spend money to make money.
Set a budget and stick to it. How much do you want to spend, and where do you want this advertising campaign to go? Select your options to best deliver your message. This may be an overall campaign to target new customers; a specific message targeted to an audience, location, or group of people who share similar interests; something in between – the possibilities are endless.
If you are advertising effectively and strategically, chances are – you are investing wisely.
The best way to measure your dealership’s campaign and to track if you have invested wisely is to calculate your success based on your goals. To do this, compare your results from before and after your campaign in relation to the goals you had in place. If your goal was to increase leads by 30%, you can see whether or not you succeeded. Over time, your investments will become even more strategic as you measure your growth and adjust accordingly.
Your dealership may have the best ad that runs in the best placement online, but if you don’t know how it’s performing, it’s useless. Marketing is an investment. It’s necessary to track and measure the return on investment (ROI) to figure out if you are investing wisely.
With your goals in place, you can easily identify what you need to work on. For example, if your goal was to raise awareness of your brand, you can measure that by looking at your impressions and clicks. How many people had the opportunity to see your ad, and who engaged with it? If you’re realizing that you are not doing as well as you had hoped with a particular goal, make a few adjustments and see where that takes you. Remember, it takes time for an ad to run before you can really evaluate its performance. Give the ad at least a week or two before making adjustments.
Investing wisely goes hand in hand with planning and measuring your results. According to WordStream, 64.6% of people click on Google ads when they are looking to buy something online. Making a plan and sticking to it will show results. Even though it takes time to build and tailor a successful campaign, you are in the process of driving relevant traffic to your site. Making your website known will enhance your dealership’s brand as well as its reputation.