On today’s episode of Marketing Matters, Colin Carrasquillo, Digital Marketing Director of the Nielsen Automotive Group, shares invaluable insights on how dealerships can foster stronger relationships with their vendor partners. With a hands-on, boots-on-the-ground perspective, Carrasquillo emphasizes the importance of open communication, setting expectations, and creating a collaborative environment where both parties can thrive.
During today’s show, Carrasquillo stresses the importance of building long-term, successful partnerships with vendor providers, particularly in the automotive space. He advises dealerships to take a proactive approach, which can induce holding “Set the Table” meetings, where dealerships and vendors align on goals, current market conditions, and challenges.
In addition, Carrasquillo highlights the need for dealerships to encourage their vendor partners to think creatively. Instead of simply accepting the status quo, dealers should engage in meaningful dialogues to ensure their partners are fully invested in helping them achieve their sales and service goals.
He highlights the importance of frequent communication, recommending weekly meetings for high-investment campaigns such as search engine marketing, digital displays, and social media marketing. In contrast, email marketing meetings can be bi-monthly, and retargeting efforts should be reviewed monthly.
One standout piece of advice from Carrasquillo is to always stay agile with marketing efforts. By maintaining a consistent cadence of meetings and adjusting strategies in real-time, dealerships can ensure they remain competitive in a fast-changing market. For example, incorporating timely offers such as OEM bonus cash into campaigns can give dealerships a significant edge over competitors.
"A vendor partner is just that—a partner. They should be as much a part of your dealership's operation as you are. They're there to assist you, and through open dialogue, they can become your most trusted and highest performing partners." – Colin Carrasquillo.
