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?
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, 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.
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.
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.
CategoriesDigital Advertising, Search Engine Optimization
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