Allocating Your Dealership’s Annual Marketing Budget
Once you have figured out how much you will spend for the year on Marketing, you must then decide how to allocate that budget across the many different channels available to you. With so many types of digital advertising to choose from, it can be a daunting task. Let’s take a look at some of the different advertising channels and what function they have in your marketing strategy.
What is Digital Marketing?
Digital marketing is defined as any marketing strategy that takes place through digital means- usually through internet-connected devices. That is pretty broad. There are many tactics and methods you can use that all fall under the digital marketing umbrella. Let’s take a deeper look at these tactics and how to allocate your marketing budget.
7 Types of Digital Marketing
Search Engine Optimization: Also known as SEO, Search Engine Optimization is the process of making a website more visible and attractive to search engines like Google, Yahoo, and Bing. The goal is to increase the quality and quantity of traffic to a business’s website from these search engines. SEO begins with great content. Do keyword research and really dig in to creating content that your target audience wants to read. Search Engine Optimization is one of the most valuable marketing tools there is, but it does take a little time to gain momentum and show progress.
Pay-Per-Click:PPC ads are a great way to get people to your site who are more likely to convert into customers. PPC Ads are also known as search engine marketing. In fact, studies show that PPC visitors are 50% more likely to convert than organic traffic. If you’re looking for a way to get more leads for your business, PPC ads are an excellent option. PPC ads break down even further into search, display, responsive, retargeting (and more). These can get rather complicated, but you are able to target specific types of customers and reach customers at a stage in their buying journey that they are ready to convert. If you need immediate results, PPC Ads are probably for you.
Social Media Marketing: Social media marketing (SMM) (also known as digital marketing and e-marketing) is the use of social media—the platforms on which users build social networks and share information—to build a company’s brand, increase sales, and drive website traffic. There are both paid and free options available to your business. Paid advertising on social media produces much quicker results than organic.
Content Marketing: Content marketing is a smart way to grow your business by attracting, engaging, and retaining an audience. You can do this by creating and sharing articles, videos, podcasts, and other types of content that is relevant to them. This approach establishes your brand as an expert in your industry, promotes awareness of your business, and keeps you top of mind when your audience is ready to buy. Content marketing refers to informational, valuable content like blog posts, how-to’s and other instructional material. This type of marketing helps you connect with your customers and answer questions or provide a solution to their issues. This can help to generate leads and close sales. Content marketing takes some time to develop, so you aren’t going to see immediate results.
Email Marketing: Email marketing is a powerful way to connect with your audience and promote your product or service. It can be used to announce new products or services, offer discounts or other promotions, educate your audience on the value of your brand, or keep them engaged between purchases. Email marketing can be customized to fit any need or budget, making it a versatile tool for any business.
Mobile Marketing: Mobile marketing is a type of marketing that aims to reach an audience of mobile users through smartphone applications, advertisements, and push notifications. Mobile marketing is the process of promoting your product or service on smartphones, tablets and other mobile devices. Mobile marketing can be done through mobile-optimized ads, push notifications and mobile apps. Reaching your audience through their mobile devices is a great way to connect with them and promote your product or service. The average person spends 3 hours and 15 minutes on their phone each day. 1 in 5 of these people use their mobile phone more than 4.5 hours a day. That’s an average of at least 24 ads per day per person being seen. You can reach a large amount of people no matter where they are.
Affiliate Marketing: Affiliate marketing allows companies to effectively market a product with a low budget, low effort and time, and at a well-contained risk level while guaranteeing a high return on your investment, increase in brand awareness, and business growth. In the green industry, there aren’t quite so many influencer’s as in other industries. They may come at a higher cost, but you will be able to see directly how they are helping your sales by using special promo codes and offers.
How do I know which channels to use?
How many marketing channels should you be using for your business? The short answer is: as many as you can! The more practical answer depends on how much time and money you have to invest in your marketing strategy. While PPC and Social Media Paid ads can generate quick sales, they are more expensive and thus require more of an investment to upkeep. If you have the time (or money to hire an agency) I would recommend allocating a little bit of your budget across all or most of the channels discussed above. By utilizing multiple channels, you are giving yourself multiple ways to gain valuable leads, increase sales, build relationships and customer loyalty and increase brand awareness.
A good starting point would be to allocate a portion of your budget to each of the main marketing channels: paid advertising (both PPC and social media), SEO, social media marketing, and email marketing. By using a mix of these channels, you’ll be giving yourself the best chance to generate leads, sales, and brand awareness.
Not sure where to start? Contact Us today and we can help! Follow us on Facebook and Instagram to keep up with all the latest news!
It seems there is always some new Social Media Trend or Controversy. Social Media dictates how a lot of people live their lives. We turn to it for attention, sympathy, support, advice, help and entertainment. We consume so much of it that we don’t event think twice about it. We use it in our personal lives as well as our professional lives. With over 3.78 Billion users worldwide, its safe to say that social media is here to stay.
If it is here to stay, then it begs the question, is it really important?
55% of consumers learn about new brands on social media! Social media has always been a place of discovery, and people are now using social media to learn about brands and companies just as much (or more) than TV or Radio Advertising. The average person spends 2 hours and 29 minutes each day on social media. That gives you lots of opportunity to get in front of the right audience.
In today’s age of streaming, we don’t need or want to watch or listen to ads anymore. We’re able to fast forward, change the channel or take our pick from infinite libraries of ad-free content. However, on social media, ads and brand content sits next to our social streams and looks like the content that we consume from our friends, family or other connections. So, Why is this important? Gen Z and Millennials are especially likely to use social media for brand discover. As the spending power of these generations increases, so will social media usage. Your brand should be ready to capitalize on these growing networks, or consumers will most likely discover your competitors first.
Social media users tend to treat social media like a feedback loop where they are able to report an issue with a product, leave a review, or privately message the company. If your consumers can’t engage with you, they may find another company who can. Engagement is the primary goal of many marketers and drives a positive influence on customers’ decisions to buy from a brand. Responsive brands that continuously react and engage in communication with consumers are better equipped to serve their customers’ needs, dial up personalization and humanize their content in a way that forges deeper connections with customers.
What can social media do for my business?
Besides the most obvious, getting your name and brand out to more people quickly and cheaply, there are many other benefits of utilizing social media marketing for your business.
Helps you engage with current and potential customers
You can find out what people are saying about your business
You can advertise your business and promotions
Social media can help your business attract customers
Allows you to gain and collect customer feedback
Helps to build customer loyalty to your business and brand
Who are the major Social Media Players?
Facebook is the market leader when it comes to social media with over 68% of Adults in the US using it on a regular basis. 1.84 billion people use Facebook every day! More than 90 million small businesses have Facebook pages & 67% of marketers say Facebook is the most important Social Media platform in their strategies. With such whopping statistics, it’s no wonder Facebook generated $27.19 billion from ad revenue in Q4 of 2020 alone! With so many people regularly using (and buying) from Facebook, it should be a crucial part of your digital marketing strategy too!
Instagram is owned by the same company as Facebook, Meta. The difference in the platforms is that Instagram only allows you to post visual content, while Facebook allows Text Only Posts. Boasting over 1.5 billion users a day and over 200 million businesses on Instagram, this platform is known for user engagement. Engagement rate on Instagram are approximately 6 times higher than those on Facebook (81% VS 8%).
Twitter has long cemented itself as the hub of political discussions, memes and the prime place to go back and forth with brands. 436 million monthly users troll on twitter. Content strategy can be a little tricky on Twitter, but it’s an important pillar of a strong digital marketing strategy.
TikTok has amassed 42.4% of the adult population in users and is the fastest growing social network with 105% user growth rate in the US over the past 2 years. TikTok is giving Instagram a run for its money when it comes to Influencers. TikTok is now more popular among the Gen Z population than Instagram.
Pinterest has an impressive 400 million monthly user base and has a diverse, big-spending audience that are more dedicated and engaged than any other network. 7 out of 10 “pinners” say Pinterest is their go-to place to find products and services they can trust and their shopping carts are 85% larger than buyers on other platforms. With dedication like that from your consumers, why wouldn’t you be using this platform?
What should my business be doing on social media?
Have complete and correct profile information. Users want to be able to find your phone number, address and website when they need it so make sure that you have added the information and that all information is correct and up to date on your social profiles.
Post regularly. Businesses who post consistently show consistent organic growth. Just like you would nurture any other sales lead, nurture the audience you build through social media.
Set aside time each week to read and respond to all comments. With so many people using social media as a way to connect with brands, it is key that you respond to each and every comment consumers leave about you or your business. Respond to negative reviews professionally and compassionately.
Create content that enhances your target audience’s life. Consumers are accosted with so many advertisements each day, they don’t want to see gimmicky ads when they turn to social media. Your content should resemble other content on the platform and add value.
Humanize your company. Have a new office manager? Do you celebrate employees’ birthdays? Document and post “fun” activities, introductory posts and other ways to share who your company is at its core is a good way to promote your business on social media.
It’s safe to say that social media is here to stay. Your customers are looking for you online. Give them what they want and make it easy for them to find you. Let Dealers Digital help you maximize your online exposure and boost your sales. Because we only work with outdoor power equipment and green industry professionals, we know what content to curate, what your customers want to hear and when they want to hear it. We also work with you to open up the lines of communication from your social channels to utilize them as sales lead funnels.
Contact Us now for more information about how we can help you and your business! Follow us on Facebook and Instagram to keep up with all of the latest news!
Your Online Brand Reputation is the image of your company seen by internet users. It’s how the public feels about your products and perceives your brand. A positive brand reputation- both on and offline- means that customers not only trust your business, but they are also likely to purchase your product or service.
Brand Reputation Management is the process of monitoring how consumers perceive your business and taking strategic action when necessary to improve your brands image.
The key to a winning reputation management strategy is recognizing that you don’t have to wait for people to form their own opinions of your brand. Instead, by building your brand’s experiences around your target customers’ needs, wants, values and opinions, you can also shape how they perceive your company.
Brand safety ensures advertisements, their content and any content shared by brands are appropriate and not associated with topics of consumer opinions that may be negative. By making sure your advertising is legitimate, your consumers won’t feel deceived by your brand and keeps them from having to second guess your business or distrust what you have to offer.
Various factors such as, online reviews, consumer forums, news articles, social media behavior and visibility in search results all impact your brand reputation. Your online brand reputation has become increasingly more important as the digital era continues to explode.
Building a strong brand takes a lot of work. Having a solid reputation strategy will not only help you on your goals of achieving your ideal perception but will also help when your brand inevitably must deal with a crisis.
Why is Brand Reputation Management Important?
Creates More Loyal Customers: For Outdoor Power Equipment companies, the majority of earnings come from a long and loyal customer set. When you follow a brand management strategy, you can look more closely at what avenues will attract and retain the most loyal customers. Customer Loyalty programs work because people like to do business with people they like and trust. Maintaining your brand’s reputation helps to build that trust.
Quickens Your Response to the Competition: Having a marketing strategy in place will help you identify what marketing or sales tactics you need when dealing with a competitive threat. Your Brand reputation strategy can help you decide if it’s a better idea to prioritize a new marketing campaign that focuses on selling to your existing clients, or if it’s better to narrow in on acquiring new customers in a currently under-served area.
Stabilizes Employee Growth: If you articulate the way you want your brand to be perceived, it’s much easier to identify good hires that will promote the culture you are trying to create. People look for jobs where they feel fulfilled and can make a meaningful contribution to something they believe in. Companies that have a clear brand identity and a well-founded brand reputation are the ones who offer these types of opportunities to perspective employees. With a great reputation both inside and outside, a company will have a more devoted workforce and lower levels of turnover and turmoil.
Build Your Brand Identity: Before you can even begin to think about a brand management strategy, you must first create a brand worth managing. Developing a strong brand identity ensures you have a clear understanding of what your company stands for and can help guide decisions in certain situations.
Your brand identity should include:
Logo, Colors & Imagery that are Cohesive
A Consistent Voice from the Brand
A Clear Company Mission, Vision and Value Statement
Establish Your Online Presence: Create a website that will allow visitors to experience your brand identity and form an accurate impression of your business right from the start. Setup and Manage your Google Business Profile and Social Media Accounts.
Actively Ask for and Respond to Reviews: The average consumer will read 10 reviews of your company prior to deciding they can or cannot trust your brand. Make sure to include a place for customers to leave reviews and include them as testimonials on your website. No matter the venue, make sure that you respond to every review as they come in, even the bad ones. If you address them honestly and quickly, many times you will find that you are able to turn a poor experience around and retain your customer’s business. Not only that, but it will show other people reading the reviews, that your brand cares about your consumers and that you will listen and resolve issues and complaints when they arise.
Listen to Feedback: Keeping an eye on what is being said about your brand is key to reputation management. Add a form to your website to create a place for customer feedback. The input you will receive is incredibly valuable.
Improve the Customer Experience: According to Microsoft Consumer Data, 58% of Consumers who feel like their experience falls short with a brand will sever all ties with them. It’s not just the lost revenue that you should concern yourself with.Customers who have had a poor experience are much more likely to leave a public facing review for a company than those who had a good one.
94% of consumers say a bad review has convinced them to avoid a business.
You must be ready to manage your brand reputation before others do it for you. A single bad review can deter multiple potential customers from doing business with your brand.
Company Culture Counts: Good things happen when a company promotes a healthy and positive internal environment. By giving your team members meaningful work and empowering them to take charge of their professional lives, they will become more confident and productive collaborators instead of individual contributors. This has a huge impact on your public reputation. When employees are more satisfied and fulfilled by their work, they will take pride in what they do, and as a result, do better work. Company culture also effects your internal brand reputation. The better supported your employees feel, the prouder of their work they will be which in turn will have a positive influence on your overall brand reputation.
Create a Brand Style Guide: As your company grows. You must always maintain the same identity and message across all channels with internal documentation. Creating a Brand Style Guide ensures that everything remains consistent when it comes to design choices, communication strategies, quality of customer service, etc.
Brand Reputation is critical to any growing business. A Positive brand reputation builds loyalty and increases customer confidence in your brand and product, ultimately, driving both sales and bottom-line growth.
Digital advertising comes in many different varieties, including display advertising (those web banners next to your favorite Youtube videos), sponsored ads (such as those on Google and Facebook), and of course, search ads —just to name a few! There are a ton of ways to reach your audience, and a lot of ‘Best Practices’ to remember.
So where do you start?
While there are a ton of online options to choose from, reaching your intended audience will still require a little bit of finesse. Luckily, using digital advertising to get your message across is easier than you think.
PICK THE RIGHT PLATFORM
In 2008, only 24 percent of the United States had a social media account. Today that number has skyrocketed to 81%. While traditional mediums such as television and newspapers still have their place, most companies are turning towards digital advertising for the majority of their needs—and who could blame them?
As of 2019, tech titans Google and Facebook together control over 77% of total internet revenue growth. Furthermore, in the third quarter of the same year, Google and Facebook together controlled 99% of advertising growth, with this number projected to be on the rise).
Why would you settle for anything but the best? Pick the right digital platforms and go where your ads will be seen.
KNOW YOUR AUDIENCE
Knowing your target demographic is undoubtedly one of the most beneficial tools in your advertising toolbox. Why? First off, not only does it give you a leg up for reaching the most likely people to buy your product or service, but it also helps to pick the appropriate platform and technology to deliver your message.
Audience facts you’ll want to know are things like where they live and shop, what their needs are, what your product specifically can do to solve one of their problems, and why they would find your brand appealing.
It also helps with ad targeting if you know ‘People who like -this thing- also tend to like my brand’ – so you can expand your reach to target people who like that other thing, knowing that there’s a good chance they’ll like you as well.
But be warned. Once you have their attention, there’s still plenty of work to do!
BE ORIGINAL
Did you know? The average clickthrough rate of display ads across all formats is a measly 0.06%.
From the moment that first browser opens in the morning until that last cat video before bed, internet users are bombarded with dozens of digital advertisements. By the time they get to work they’ve seen so many digital ads that they’ll likely only remember one or two, if that.That’s why it is vital to have the most creative content on the web to achieve that long sought after CLICK.
While you don’t have to break out into 90’s jingles and fake mustaches, you can win over big crowds by being entertaining, and authentically you. A brand that is unique and recognizable is one that is easily remembered – and you want to be top-of-mind when someone is thinking about buying your equipment.
So go against the grain and dare to be different!
GET INTERACTIVE
As the internet continues to advance, media is consumed differently.
More and more people are getting their entertainment and news from streaming options such as Netflix, Roku, Hulu and YouTube, and social sites like Facebook, Instagram, and Twitter. It’s incredibly integrated into our lives.
So what does this mean for digital advertising?
Interaction!
Interactive ads get a higher clickthrough rate of around 6 percent, whereas most digital ads remain at a fraction of one percent.
Good advertisements tell a story that engages the audience. If you’re a mower dealer, enticing future customers with starbursts of color showing your sale prices for pages and pages just isn’t interesting.
But when you intrigue potential buyers with an eye catching video, a hilarious one-liner or a captivating call to action, you give them autonomy. If you provide them with education, they’ll be more likely to share your brand with their friends and use you as a resource, coming back again later. You can reach a wider audience by providing more reasons for them to share and return!
Don’t tell customers what to think, but instead show them why buying your product is the best decision.
KEEP IT SHORT AND SWEET
Don’t say too much! Short messages that pack a wallop and avoid cliches go a long way in the digital advertising world. Hook readers in with a memorable joke, a one liner, or a quick play on words. If you have a lot to say, break it into smaller pieces.
Did you know novels with shorter chapters tend to have people read more of the book? Since each chapter break allows the person to pause and digest what they’ve read, it’s easier for them to understand what they’ve read and stay intrigued to learn more.
A series of fairly short, related articles that link to each other will generally do better than one massive article. Those same articles can help your SEO, put you in a position to seem like a leader and educator, and really showcase your brand’s helpfulness to the local community.
TUG AT THEIR HEARTSTRINGS
While traditional word of mouth will always impact local business, the trick is to give them something positive to talk about. The most important thing about your digital advertising campaign should be about connecting with your audience. A little passion goes a long way.
Whether it’s a push to remember to use pesticides in an environmentally friendly fashion, to support a local business – giving people meaningful content to talk about scratches beyond the surface of a product and relates to people at a meaningful level.
Whether your message is sensitive or funny, at its core it should come across as authentic.
Make your digital ad memorable and appealing, and your brand will have those qualities as well.
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