AUTOMOTIVE ADVERTISING & MARKETING

WIIFM

Potential Customers Ask: WIIFM?

JKRAdvertising / Automotive Advertising Advice /

March 16, 2016

WIIFM WIIFM is the acronym for “What’s in it for me?” It’s something you should always keep in mind when preparing your advertisements, because everyone seeing or listening to your product offerings is asking that very same question. Most of the time they don’t even realize they’re doing it, but subconsciously they are. To keep their attention, you must provide an answer to this all-important query.

Let’s face it; all of us possess varying degrees of self-centeredness. I do. So do you. Effective automotive advertising addresses this concern. That’s why it’s of utmost importance that you be prepared to answer the WIIFM question in every ad you run, regardless of the format.

The Answer to WIIFM

As a car dealer, in every one of your commercials you’re essentially telling the people in your community they should get rid of their current car and buy a different one from you. And when you really stop and think about it, that’s asking a lot from someone! If you want any chance of being successful, you have to focus specifically on the benefits for the customer. In other words, you need to create a vision in their mind that is so compelling they can actually see themselves in one of your vehicles; and powerful enough that they make it real by coming in and buying at your store.

FREE Advertising Review

Contact JKR Automotive Advertising today because we are the experts when it comes to helping you answer the WIIFM question – which translates into increased traffic and more sales. For your efforts, we’ll give you a FREE, no-strings-attached review of your current advertising and marketing strategies. But we don’t stop there; we’ll also tell you what’s going on with the other dealerships in your market. How valuable would that be to you? Call Eric Tigner today at (321) 397-0777 to get the process started.

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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