JKR recently capped off its incredible 2023 with an unforgettable holiday celebration at Ruth’s Chris Steak House in Winter Park.
For the JKR Partners, the event was a gesture of appreciation for the team’s unwavering camaraderie and collective efforts that propelled the agency to new heights. For the employees, it highlighted the support, guidance and generosity of the JKR partners who made the event possible.
As we acknowledge the success we’ve had in 2023, we also look ahead with optimism for what 2024 will bring us. Here’s to an even more phenomenal year ahead for JKR!
The combination of the pandemic, microchip shortage and supply chain issues has created a significant change in the way automobile dealers have conducted business in recent years. In addition, this perfect storm of events has also temporarily reshaped consumer behavior. The end result has been a new normal being established that tilted the playing field in favor of car dealers, giving them unprecedented leverage in the negotiation process.
We all know what hot commodities new vehicles have become, as demand surged to the point where buyers have been willing to order and wait for their desired vehicles.
But as the months pass, it’s becoming apparent that we are witnessing a return to the “old normal” of pre-pandemic levels.
So … Now What? The first and most important lesson that should be gleaned from any unconventional period in history is this: Dealerships that persisted in advertising during the highest economic peaks – and lowest valleys – are the ones that get the largest market and brand shares when things return to status quo.
Why? The answer is simple. Though the industry continues to ebb and flow, it’s certainly clear that the basic principles of automotive advertising haven’t changed. Being top of mind, possessing a hefty market (and brand) share and aggressively maintaining brand visibility should be among a dealer’s chief ongoing goals, irrespective of the current economic climate.
Things are Still Positive Let’s be honest: It’s more difficult and takes more work to sell a car today than it did at this time last year – or even six months ago. Restocked inventory, rising interest rates and an uncertain economic forecast have many dealers less optimistic about the remainder of 2023 and 2024.
But most of those concerns were also present 3-4 years ago. And as things return to the pre-COVID “old normal” levels, stop a minute and remember that those days were generally regarded as pretty good ones.
It’s December. Use What the Manufacturer Gave You! Make sure you’re taking full advantage of the co-op dollars available to you, especially as the year ends. And don’t forget that if yours is like most brands, it likely follows a use-it-or-lose-it policy.
Contact us today at (321) 397-0777 if you aren’t sure what funds you have available and we’ll be happy to walk you through the co-op process. Remember … you must do it soon to make full use of your 2023 allotment.
JKR Partners Richard Brauns and Jon Albert have been in the news a good bit in recent weeks. Their thought leadership has been featured in articles found in some of the country’s most recognized business Websites, as they offer invaluable insights into various aspects of the automotive industry.
JKR Partner Richard Brauns Brauns’ expert analysis is prominently highlighted in a Yahoo! Finance article, delving into the expenditure habits of the average American when it comes to their automobiles. This insightful piece provides a comprehensive overview of the financial landscape surrounding vehicle ownership and consumer spending patterns.
Brauns’ expertise also extended to a GoBankingRates.com article, where he discusses the right and wrong times for purchasing a pre-owned car. This advice provides helpful knowledge to readers navigating the complexities of the pre-owned car market, guiding them toward making informed and advantageous purchasing decisions.
JKR Partner Jon Albert Meanwhile, Albert showcased his in-depth knowledge of the ever-growing electric vehicle (EV) market. His insightful analysis on Tesla ownership is prominently featured in Nasdaq.com, as he sheds light on the nuances and considerations involved in owning a Tesla vehicle — including some surprising ways Tesla ownership can save its drivers money.
Additionally, Albert lent his expertise to an article for Ward’s Auto, discussing the emerging landscape of EV subscription services. In it, he discusses the concept of subscription services, addresses consumer skepticism, and concludes that some subscriptions could be worthwhile depending on the driver’s needs and preferences.
Want this kind of expertise in your corner? Give JKR a call today at (321) 397-0777 and learn about what we can do for your store!
Have you ever wondered about the real origins of Internet leads your dealership receives? Think about this: your customers are exposed to multiple touchpoints – online and offline – before they get to the point where they’re ready to buy – and your dealership’s online leads are no exception.
It’s easy to just assume that someone discovered your dealership through an Internet lead or even a Google search, but the reality is that dealers should look beyond just the World Wide Web. The truth is, when a customer responds directly to an Internet lead, their journey to that point in time often begins offline with something else driving them there. It could be the captivating jingle of a radio advertisement, the visual impact of a TV commercial, the recommendation of a trusted friend, someone reading the dealership nameplate on the car in front of them at a traffic signal, or even someone searching for a dealership selling your brand through an online map service. These avenues act as catalysts, sparking curiosity and prompting individuals to seek further information online. In other words, while the Internet provides a vast array of platforms to engage potential customers, it is quite often not the initiator of the actual journey itself!
Why This Matters When you understand the origin of Internet leads, you are better able to plan, project and allocate to get the biggest bang for your proverbial buck.
Knowing the true sources of your leads allows you to invest more in channels proven to drive leads, and make the necessary adjustments to the ones suddenly exposed as being less effective than you may have initially thought.
You only know for certain that you have a successful Internet lead when that person actually engages with you. And when you can be sure your Internet leads are truly authentic, your number of good leads goes up and your spend decreases because you’re ridding yourself of the hidden waste. And if/when this happens (we can show you how to make it happen), will your store be ready? An upcoming blog post will tell you how to be sure you’re prepared, because most Websites actually deter leads from becoming real customers.
The Takeaway So remember, while the Internet plays a crucial role in attracting leads to your dealership’s Website, it’s also vital that you recognize the multifaceted nature of the customer’s overall car-shopping experience that got them there.
When you acknowledge and optimize all these different and diverse channels so they work in concert together, you’ll enhance your dealership’s online presence, maximize its potential and, most important, sell more vehicles.
If this blog has you curious … or even left you with a question or two you’d like us to answer, please feel free to give us a call at (321) 397-0777.
Many automobile dealers don’t really understand what they’re buying when it comes to their digital ad spend; they just know they need it. Because they’re so busy selling cars, they don’t have the time to fully research or comprehend the intricacies of online technology. As a result, they don’t know where their ads are running or how to measure their success.
This lack of knowledge can lead to wasted money and effort and, in a lot of cases, excessive levels of frustration. It’s not unlike how car customers felt decades ago; they didn’t know how much profit the dealer was actually making on their transaction; they just knew they needed a car. It’s this feeling of “flying blind” that is so unsatisfying – and no dealer wants to feel as if they are being high grossed by vendors. To bridge the knowledge gap, dealers depend a great deal upon their advertising agencies. And while they can be invaluable partners, the dealer’s lack of understanding leaves them vulnerable to miscommunication, a lack of transparency regarding a campaign’s effectiveness and, worst of all, being severely overcharged.
It doesn’t have to be that way! Your current digital advertising provider should be able to peel back the curtain for you and show you what they’re doing, tell you why they’re doing it and, most important, justify the fees they charge. Ask them for data that justifies the fees … and then make sure you understand it.
For example, does your store do Google VLAs, the paid ads appearing in search results? It’s very possible the answer is yes. But how do you know if you’ve been getting a good deal? Make a request to your vendor to explain how they are helping you reach your goals, then ask them what they’re paying for the VLAs and how much mark-up there is passed along to you. In addition, ask them to provide you with their CPM (cost per thousand) and their exact demographic information, so you can discover how they get the statistics they’re showing you. You’ll likely be surprised at what you’ll find, and we can confidently say there’s a very good chance you’re paying more than you should for your digital ad spend.
If you discover that this is, indeed, the case, we’d love to have a chat with you! JKR Automotive Advertising will never hide anything from you; our pricing structure features complete transparency, and we have the industry software necessary to back up all our decisions. We provide each client with in-depth reports about our work for them, every time. You can count on us to always be honest and upfront with you.
Why do we do things differently from everyone else? Because we are different.
Having Trust Issues? If you cannot say you completely trust your online advertising vendor, you owe it to yourself to ask questions! And if you don’t get the answers you want, JKR Automotive Advertising stands ready to help! When you let JKR become your strategic advertising partner, you’ll reap the rewards in the form of increased sales, as well as a surge in foot traffic and Website visits. Best of all, we achieve fast results for our clients, who then wonder how they ever got along without us. Call us today at (321) 397-0777 to get things started.
