Today on CBT News, John Fitzpatrick, CEO of Force Marketing, joins the show to reflect on marketing in 2020. He also looks ahead to what marketing trends can be expected in the new year. Force Marketing is an automotive industry leader in providing targeted, trackable, and technology-driven marketing solutions.
Fitzpatrick begins the conversation by providing perspective on the lessons learned during 2020. He says that the big takeaway for the automotive industry was the focus on ad dollars cost per unit sale. This metric has been at the forefront of Force Marketing and its clients throughout 2020. Fitzpatrick says that ad dollars cost per unit was historically low. He says that many automotive advertisers have been spending way too much for far too long. While 2020 saw cut-backs on advertising dollars spent, Fitzpatrick believes smaller ad budgets could become the new normal.
Fitzpatrick then discusses the growth of data and technology, referencing Force Marketing’s DRIVE product. This product was created to build tunnels to various forms of media such as Facebook or YouTube. This technology allows a dynamic ad to form immediately to targeted consumers who are looking for specific vehicles. Fitzpatrick says the growth of streaming has opened one of the largest audiences for dealers.
Fitzpatrick concludes the conversation by providing marketing priorities for dealers to focus on in 2021. Fitzpatrick says that even after inventories stabilize, dealers shouldn’t go back to spending outrageous amounts of money to have a successful marketing strategy. In 2021, he says that all dealers need to prioritize a media streaming strategy, fixed-ops marketing, and controlling trade-in volume. Focusing on these aspects will create a strong opportunity for dealers to find success in the new year.
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