How to adjust your digital marketing strategies when inventory is limited

As digital marketing tools and trends evolve, car dealers must either adapt to the market or get left behind. Today on Inside Automotive, we’re joined once again by the Digital Marketing Manager for Nielsen Automotive Group, Colin Carrasquillo, to discuss the state of digital marketing.

While there is still value in using traditional media for brand awareness campaigns, the automotive industry continues to evolve, and digital marketing can’t be overlooked. The beauty of digital marketing is that it allows businesses and individuals to shift strategies quickly and stay as agile as they need to be.

Currently, car dealerships are battling inventory challenges in both the new and used car markets. In light of this, Carrasquillo explains that dealers can continue running new vehicle campaigns depending on their inventory and other vehicles in transit. Running campaigns for pre-owned cars is another viable option if your inventory levels are not where they should be. Advertising reservation, pre-ordering, and customization capabilities for new vehicles can also keep customers engaged.

Customer retention, service, and loyalty campaigns can be utilized by car dealers as well. Currently, consumers are not necessarily as loyal to dealerships or brands as they once were. They will buy from whoever has the vehicle they want. This reality has many dealers asking themselves: Should I still spend the same amount of money on marketing? 

Carrasquillo understands that point of view. However, if you have inventory that customers are interested in, you have to get in front of them. Leveraging Google’s vehicle ads is a great way to address this. The change in Google’s ad structure for automotive aims for efficiency in targeting car shoppers. How dealers engage with the platform may determine how successful their online ads will be. The best part? You don’t pay anything for the ads unless the consumer clicks on the inventory ad.

It’s also important to remember that dealerships can always sell service when inventory is low. Wait times might be a little longer right now, and there is an ongoing shortage of technicians. But Carrasquillo thinks this is an opportunity for car dealers to hone in on customer communications, experience, and retention.

“We’re seeing once again that people are not as brand loyal as they once were. They are not as dealership loyal as we thought they once were. So, ultimately, if you can provide a better experience than the last experience they had, you can most likely when that customer over,” says Carrasquillo.

For more great insight into automotive digital marketing strategies, watch our interview with Colin Carrasquillo above.

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