White Paper - Marketing through CRM or Marketing Agencies
Do you have a creative genius at your dealership? On the promotional side of the automotive industry this is an essential question that must be asked. Do you have someone that is equipped with the essential skills and precise knowledge to fully execute a complete marketing campaign to promote your dealership?
Do you even need a creative genius? Do you need a marketing agency or can you rely solely on your Customer Relationship Management (CRM) software to communicate with your customers? These are all legitimate questions that must be answered. Let's start with discussing CRM.
CRM maintains communication between the dealership and their customers. CRM also pumps up fixed operations, trains your staff, and delivers incredible customer service for the dealership. Its main focus is not promotional marketing but more into supplying their customers (past and present) with adequate facts and updates about service notifications, dealership promotions, and buy–back programs throughout the customer's lifecycle with the dealership.
A key feature within the CRM is the touch point data, which is conveniently in one centralized location. This data that is fostered through the CRM then molds and evolves into golden revenue opportunities, when properly maintained. This, in turn, creates more pinpointed and effective campaigns that could be executed. When working with a marketing agency, exporting this data has the possibility to be lost and furthermore the inability to properly touch them in the future.
Simply put, dealerships can focus more on supplying their customers with internal promotions, selling and managing their inventory, and consistent customer tracking through one central location. With the use of CRM, it allows dealerships to pinpoint marketing campaigns (emails, phone calls, promotions) to specific customers for maximum retain value. Using CRM For Marketing:Pros:
- All–in–one package
- Managing customer lifecycle
- Tracking customer interactions
- More specific visibility with customer trends going on within the dealership
- Increased revenues in sales and service from tracking your leads
- Automated Follow–up
- All touch point data in one centralized location
- Learning curve to figuring out the program
- Limited functionality if no DMS Integration
- Duplicate Customer Information/Leads
- Marketing functionality limitations
- Lack of updates
- Detailed Reporting
What about marketing agencies? They have all the tools needed to successfully execute a full marketing campaign that will grab a dealership's specific target audience. Marketing agencies supply dealerships with promotional tools like: brand management, external marketing, website creation, and more manpower to work on their marketing.
In other words, they focus on the marketing side of the client's industry while unfortunately neglecting the customer after the marketing promotions have captured the consumer. Marketing agencies are fixated on getting the word out and not necessarily on how to harness all the necessary information that is gathered and collected after that. Using Marketing Agencies For Marketing:Pros:
- More options for marketing (postcards, coupons, direct marketing...etc.)
- Brand management
- Website management
- More expertise (because that is what they do)
- More manpower
- More expensive
- Not automotive industry specific (at times)
- Additional cost to CRM
- Consulting methods are tricky
- Customer leads are not pinpointed to specific customer...more broad
- Not tracked within CRM
- Possible loss of touch point data when exporting to agencies
CRM and marketing agencies are both great methods to produce an end result of selling a vehicle. Marketing agencies pull the customer into the dealership, while CRM is used to grow that relationship with that customer throughout the car buying experience and beyond.
Deciding which method is essential for your dealership is extremely important to the overall growth of your store. In a perfect world, having the use of both CRM and marketing agencies working hand–in–hand would create the best experiences for the customer.
What must be determined is, which one will benefit your dealership and the customer the most? Is it external promotions for quick customer responses that might lead to a sale or nurturing customer relationships to build insight to create marketing opportunities? But if both are used correctly together, it could create a powerful infrastructure guaranteed to foster your market leads.
To learn more about using CRM for your marketing needs contact 866–455–2559