Inbound marketing is the promotion of a company or other organization through numerous forms of content based marketing such as: social media marketing, blogs, ebooks. This process attracts customers to your business that show interest in your content and usually results in higher quality leads which means more potential purchasers.
A good metaphor would be to compare marketing to fishing,
The fisherman knows what bait the largest fish prefers so he makes that bait readily available and thus has a higher chance to acquire the larger fish (quality lead) with the least amount of time and physical exertion.
Where as (in this Metaphor) traditional Marketing would be fishing with a net, casting over again and again but only acquiring higher quantity smaller less desirable fish, while exerting more effort and time i.e. advertising funds.
Now let’s talk specifically about the the automotive industry.
The Average Dealership website visitor to lead conversion rate is less than 2% (That is one picky fish) and, it is our own fault, dealership websites are flooded with Spammy pop-ups flashing chat windows and other on screen nuisances that google has labeled “Intrusive Interstitials” .
It is no one's fault that but our own (the automotive industry) that we have used such poor bait and have decided that more bait will work when in reality it merely irritates our oh so valuable “big fish”.
Incentive Marketing for dealerships can increase their LTV by 50% to 100% or more effectively increase the amount of high quality, first party website leads from thier exisiting webstie traffic at a very low cost per lead and cost per sale. Providing an advertising R.O.I. (Return On Invenstment) much higher than most any other adversing solution.
Using poor inbound marketing could be as bad as implementing no inbound marketing.
Effectively ignoring the knock of opportunity on your digital doorstep. So do yourself a favor and educate yourself on how effective and economic inbound marketing can be when used properly and combined with the proven effectiveness of incentive based marketing.
A hook without bait doesn’t catch fish and bad bait is worse than no bait. So what is your bait to get the lead, why should customers who visit your dealership website be compelled to offer their oh so precious personal information.
Get some insight on the effectiveness of inbound marketing with our newest eBook. Learn how dealerships that have implemented a combination of inbound tactics and incentive based marketing are coming out with all the big fish.
You can pass on this information but your competition won’t.
Over to you. What are you thought on using inbound marketing in your digital strategy? If your dealership actively uses inbound marketing, where have you found success?