AUTOMOTIVE ADVERTISING & MARKETING

Nielsen Stats Support Radio Advertising

Nielsen Stats Support Radio Advertising

JKRAdvertising / Automotive Advertising Advice /

January 3, 2018

Some recent Nielsen stats show that, despite the recent advancements in technology, AM/FM radio continues to have a huge impact on the lives of almost everyone in this great country of ours. Culled from the Second-Quarter Nielsen Total Audience Report, here are some of the most interesting stats that are of interest to an automobile dealer … showing why radio advertising remains a powerful tool to attract customers and ultimately, sell more cars.

∙ AM/FM radio reaches 93% of adults in the United States

∙ More than two-thirds of AM/FM radio consumption happens outside the home (closer to the point of purchase when shopping)

∙ About two-thirds of Americans listen to the radio away from home during the 6am to 7pm time period; peak time is 3pm to 7pm

∙ The average commute to work – a premium time for radio listening – is 26 minutes (one-way)

∙ Americans spend 87% of their listening time on their three favorite stations

∙ 76% of radio listeners are between 18-64 years of age – and are in the workforce

As Nielsen correctly puts it: For advertisers, these are critical insights because they provide details about when they can engage with an attentive audience — an audience that spends nearly 2 hours and 45 minutes with the medium and has disposable income.

With AM/FM radio advertising also being one of the most affordable ways for an automobile dealer to market itself, it is clear that radio offers great bang for the proverbial buck. Better still, with all the available station formats available, we can help you choose the ones that will work best for the cars and services offered by your dealership.

FREE ADVERTISING REVIEW

An affordable way to advertise; a captive audience; people ready to buy; and a specific audience of consumers you want to target. This is just some of what you get when you choose radio! Call Eric Tigner today at (321) 397-0777. JKR offers a free automotive marketing review … let us show you how we’ll improve what you’re currently doing. You’ll be amazed at the valuable information you’ll receive when you ask for yours.

JKR Automotive Advertising: We Move Cars.

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Post-Pandemic Dealer Gross Profits are Down – But They Don’t Have to Stay There!
March 13, 2024
It is no secret that dealer gross profits per vehicle are down sharply in the post-COVID automotive world. According to a recent article in Automotive News, gross profits of the six largest publicly traded dealership groups plunged significantly from Q4 2022 to Q4 2023. One of them was actually down 35% per vehicle!

The article explains: High interest rates, more expensive vehicles and a steadier post-pandemic supply chain continue to soften demand and bring it closer to pre-pandemic levels. Still, new-car buying has remained strong overall …

This means that, while sales volume is similar, overall bottom lines are lower for many dealers due to the reduced gross profits. What about your dealership?

Being Realistic
It’s time to turn the page! The time for dealers to simply be order takers for people willing to pay MSRP for a vehicle (and in some cases more) has passed and dealers have to work hard once again to achieve acceptable gross profits.

Selling a high volume of cars doesn’t control gross profits, no matter how much you wish this was the case. Correct processes and menu pricing – and strict adherence to them – do!

What kind of processes?
∙ Slow down the transaction! Your sales staff has to once again sell the customer on the features and benefits of every new and pre-owned vehicle on your lot.

∙ Your salespeople and managers should devalue the customers’ trade-in value (politely, of course) as much as possible. After all, if the customer expects you to lower your price, shouldn’t you be able to do the same on their trade? Remember, you’ll have to fix it up, put your name on it and resell it to someone else with all the tenacity you would a brand-new car. So make sure you buy it right … because the profit is made when you buy it, not when you sell it!

∙ To that end, management should be ready and willing to leave the desk and do thorough walk-arounds on each trade to ensure the best outcome for the dealership.

The Cure for Low Gross Profits
If you are like a lot of dealers these days, you could use some good news. Here it is: while you may not have the capability to achieve profit margins similar to those you enjoyed during the pandemic, they could likely be improved. JKR’s clients enjoy the benefit of attracting not only more customers, but better ones, too!

If meeting and exceeding your sales goals (and increasing gross profits at the same time) sounds great to you, you need to call us. Don’t settle for reduced gross profits when help is out there to get you closer to where you’d like to be.

Want to know how we do it? Reach out to Senior Partner Richard Brauns (407) 701-4233 or Partner/Vice President Jon Albert (407) 718-2494 today.

JKR Automotive Advertising: We Move Cars.

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