We’re all feeling it. At the grocery store, the gas station, and especially when those bills arrive. The cost of living has noticeably increased, and there doesn’t seem to be any facet of life that hasn’t been affected. As a Dealer that shells out marketing dollars daily, you know how to wheel and deal, getting the best bang for your marketing buck. But as with everything else these days, advertising costs are rising, and no amount of negotiating can fix that. 

For digital advertising, increased competition and privacy regulations have been one of the biggest reasons for the rise in rates.  As more businesses shift their advertising budgets towards digital channels, the demand for digital ad space has increased, leading to higher prices for digital advertising. This increase is particularly true for popular platforms like Google and Facebook, where competition for ad space can be fierce.

Another factor contributing to rising ad costs is the increasing complexity of digital advertising. As digital marketing becomes more sophisticated, there is a growing demand for advanced targeting capabilities, such as retargeting and programmatic advertising. These capabilities can be expensive to implement and require specialized expertise to execute effectively, further driving up costs for auto dealers.

The tricky thing is that you 100% need to advertise digitally these days, so how can you lower your costs without sacrificing your important online presence? 

“Stopping advertising to save money is like stopping your watch to save time.” – Henry Ford.

It’s true. To advertise successfully, you have to spend money, so let’s get into a few things you can do as a Dealer to reach your intended audience without throwing away precious marketing dollars. 

SEO

SEO, or Search Engine Optimization, is optimizing a website’s content and structure to rank higher in search engine results pages for relevant keywords and phrases. Simply put, SEO helps your business pop up first or close to first when someone Googles a question or looks for what you’re offering. SEO is cost-effective for several reasons.

• SEO can drive organic traffic to a website, meaning that the website appears in search engine results based on its relevance and authority rather than through paid advertising. Organic traffic is free and can result in long-term, sustainable results.
• SEO allows for targeted advertising. Optimizing a website’s content and structure for specific keywords and phrases can appear in search results for users actively searching for those keywords, which means that your website is being promoted to a highly targeted audience, which can increase the likelihood of conversions and ROI.
• SEO is a long-term investment. Paid advertising can provide immediate results but can be costly and short-lived. With SEO, results may take longer to appear, but they can last longer. Once a website has achieved a high ranking in search engine results pages, it can drive traffic and lead for months or years.
• SEO can help to establish brand credibility and authority. When a website appears at the top of search engine results for relevant keywords, it can create a sense of trust and authority with users, which leads to increased brand recognition and customer loyalty.

Content Marketing

Content marketing is a digital marketing strategy that involves creating and distributing valuable and relevant content to attract and engage a target audience. It’s an effective way to engage with your customers because they actively seek out the information or content your dealership provides rather than being interrupted by traditional advertising like TV and radio ads. Content marketing is a long-term strategy to build trust and credibility and drive profitable customer action. By creating shareable and valuable content, businesses can increase their reach and exposure without spending a ton of advertising money.

Types of Content Marketing

• Blog Posts – One of the most common types of content marketing is blogging. Your dealership can create blog posts that are informative, educational, or entertaining and publish them on your website or social media platforms or email them to your database.
• Social media posts – Social media is another popular platform for content marketing and, if done right, can be extremely powerful. You can engage with your audience and build brand awareness by sharing updates, images, or videos.
• Infographics – Infographics are visual representations of data or information. They are a popular way to present complex information in a more digestible format.
• Videos – Video content is becoming increasingly popular for content marketing. For Dealers, you can create product demos, educational videos, or behind-the-scenes content to engage with your audience.

E-books and whitepapers – These are longer-form content that provides in-depth information on a particular topic. They are often used as lead magnets, and your dealership can offer them as a free download in exchange for contact information.

Although rising digital ad costs are a significant concern for Dealers, a digital marketing plan that is properly planned, implemented, and executed should ideally achieve your goals to move more metal. Ensuring you have a solid digital team to effectively manage your advertising budget and find innovative ways to reach and engage with your target audience will also help you succeed in the increasingly competitive digital landscape. 

Leadbox can help you get the most out of your advertising dollars with our team of automotive digital experts; better still, we GUARANTEE it. Click here to check out the Leadbox promise.