Keeping Your Auto Business on the Road to Success During the Inventory Shortage

Chris Lambert

Chris Lambert About The Author

Nov 3, 2021 11:04:20 AM

 

Keeping Your Auto Business on the Road to Success During the Inventory Shortage

The pandemic’s challenges have wreaked havoc on many, including the auto industry, arguably taking one of the biggest hits. Unfortunately, the pandemic led to vehicle inventory deficits due to chip shortages and a lack of production.  

As a result, auto businesses pivoted their marketing to stay afloat. While business owners may not be entirely sure about overcoming these challenges in the auto industry, marketing is key. Through continued advertising efforts, auto businesses will be able to keep reaching audiences and attract customers. When marketing a car dealership or other auto business during these difficult times, the following are ways to build a solid strategy that helps ensure success. 

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Keep Your Brand Top of Mind with a TV Commercial 

well-produced TV commercial is crucial for any car dealership branding strategy. The fact is that TV remains one of the most effective ways to create brand awareness, and it's not going anywhere.  

Consumers today still trust TV advertising over other less established channels. Investing in TV advertising can boost your ad effectiveness by up to 40%. Additionally, experts anticipate TV ad spending to grow to $75 billion by 2022. If you're not investing in commercials, you're missing out on one of the most lucrative opportunities for auto businesses.  

In your TV ads, showcase your current inventory. If you're experiencing an inventory shortage, focus instead on your services, culture, values, and other selling points. 

Focus on Your Used Car Inventory 

Screen Shot 2021-11-02 at 11.08.50 AMIn your marketing strategies, consider focusing more on the used cars on your lot. Even if used cars are all you can show right now, people are in the market for them! Due to the pandemic and other economic factors, there's been a surge in used car sales. People want to buy more used cars, making it important to emphasize your used inventory. Pivot your marketing towards what you can offer right now.  

You could use digital ads, blog posts, social media posts, email marketing, and other channels to get the word out about used vehicles. If you have more used cars on your lot than newer models, try to gear your marketing toward what you have. 

Pivot Towards Service 

If your auto business provides a selection of services, advertise them. Whether you offer maintenance, oil changes, paint jobs, or car washes, push these services. This is particularly helpful if you're experiencing any kind of shortage of vehicles or products. You can also talk about your customer service and what sets you apart from competitors based on the experience you provide. 

Consumers also generally appreciate auto businesses that provide overall exceptional service. When people visit a dealership or other company, the last thing they want is to worry about the experience they'll have with salespeople or other staff. You can use this time to reassure consumers that they're in good hands by making marketing about service over selling. In doing so, you're likely to attract more people to your business than competitors who seem less inviting. 

Get Involved with the Community 

Screen Shot 2021-11-02 at 11.08.55 AMAutomotive marketing strategies could also benefit from community involvement. By connecting with local consumers, you'll boost brand awareness and attract new potential customers significantly. When customers see that you're willing to serve the community at large, they'll be more inclined to do business with you. People want to know that you value them, and connecting with the community will show that you do.  

Consumers appreciate value-driven businesses with a clearly illustrated purpose, to the point where they're four to six times as likely to buy from them over others. If you're not showing your appreciation for your community and aligning your values with your audience, you’ll miss out on great marketing opportunities. To make sure your business will flourish, engage in cause marketing. With the help of these campaigns, you can define your values and give your marketing efforts a community focus.  

One of the best ways to approach cause marketing is to partner with another local company. Working together with another established brand could get that company's customers to associate your brand with theirs. If people trust your partner enough and their endorsement of you, you're also likely to gain more trust among audiences. 

Develop Strong Campaigns with a Media Partner 

Although navigating the current inventory shortage is a challenge many auto businesses face, you can overcome it. With expert marketing behind your business, you'll be able to effectively reach prospects and bring them into your locations. The key is knowing how to approach your strategies and get the most from them.  

If you want to benefit from solid automotive marketing strategies, consider working with an experienced media partner. A dependable partner will have the resources and expertise you need to create successful campaigns. In turn, you'll be able to get the best possible results from your campaigns with strategies that genuinely work. 

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Topics: Industry - Automotive