ARE THERE ANY MORE OF THESE LOW-FUNNEL IN-MARKET SHOPPERS OUT THERE?




 

Consider this: Have prices for low-funnel in-market shoppers grown as conversions have declined in recent years?

For the merchants who got in early, AdWords was like a gold mine. This isn’t the case anymore. The sales are becoming increasingly difficult to come by. To acquire conversions, you must price vehicles far back on the invoice. Your website’s form completion rates have decreased.

 

What do you believe is causing this? Allow me to assist you. Look up supply and demand on the internet. TrueCar, AutoTrader, Cars(.)com, and a slew of other companies all vying for your attention. OEMs are requiring dealers to purchase a set number of impressions, and many dealers are doing it on their own. The market is completely saturated. If this were a real estate market, it would be referred to as a MAJOR sellers’ market. These giant corporations are hitting grand slams, while dealers are becoming increasingly squeezed.

 

Sellers are devolving into order takers rather than salespeople. Gross and commissions have never been lower. This is a recurring theme I hear from time to time.

 

This is exactly what occurred. We prefer to pursue the path of least resistance as humans. As though it were water. AdWords and other low-funnel channels generate a lot of low-cost shopper leads. You receive more sales if you have the lowest prices. Easy! That is, until everyone boarded the vessel. That boat is now beginning to sink.

 

What options does the industry have? Just keep traveling in the same direction? No, the solution is straightforward. On Facebook, you may target a broad audience. The principle is straightforward. You can reach folks who aren’t in the market yet, just like you can with television, radio, newspapers, and other traditional media means. You may be the first to catch their attention and the first to sell them a car before they go online to shop.

 

Rather than narrowing your audience, go for a larger one. Look for those that have a concept for a new car but haven’t started the procedure yet.

 

Because your advertising was bad, the television, radio, and newspaper didn’t cease broadcasting. It ceased to function because people stopped utilizing them and their focus shifted elsewhere. Your marketing strategies were good; all you needed to do now was relocate them to where the eyeballs are.

 

We’ve had a lot of success for our clients simply by employing broad targeting and typical Facebook advertising strategies. However, this attracts a different type of customer. It develops a consumer to whom you must truly sell the reason for their need for a vehicle, not merely the price at which you are selling the vehicle. You’ll need to ask them questions like: Do you require a larger vehicle for your family? Are you seeking for a more dependable option? You’ll have to persuade them that now is the best time to begin shopping.

 

I’m not saying you shouldn’t advertise to get low-funnel customers; rather, you should fill your funnel completely! From the top to the bottom. This will help you lower low-funnel demand, locate new customers to work with, enhance your gross profit margins, and benefit the industry as a whole. Everyone needs a new vehicle; they just aren’t aware of it. It is our responsibility to demonstrate why they do. Facebook, when combined with text messaging, is the ideal medium for accomplishing this.