A question I often get asked is, “When is the right time to cut a marketing source if it does not seem to be working?”
Almost every vendor and/or marketing source requires time to perform – whether that’s PPC, SEM, SEO, TV, radio, newspaper, email, lead providers or third-party listing sites – it’s all the same. Give any source a mere 30-day judgement call before cutting them and you’ll never know whether they are performing. You could easily cut a vendor or marketing source from your budget that is actually driving sales.
Everything takes time to work. For example, lead providers. The majority of consumers don’t buy a car in the same month they submit a lead. In fact, at the point they chose to remove their anonymity and request information, many are still in the research stage of their buying journey.
My advice is to allow 3-4 months and sometimes up to 6 months to adequately and accurately measure whether that particular source is performing. Of course, to do that properly, your need to have proper measurement tools in place to judge that marketing source’s influence on a buyer.
Just like Rome wasn’t built in a day, neither is an effective marketing strategy. Give your marketing sources time to perform. Have measurement tools in place. Only after time, with these things in place, will you be able to effectively and confidently make decisions that are in the best interest of your marketing budget and, more importantly, your dealership.
Author: Steve White
Steve White is CEO of Clarivoy (www.clarivoy.com), the auto industry’s leading provider of Multi-Touch Attribution. Steve founded the company in 2009 as a digital agency and immediately set the company apart from the competition by creating an industry-leading performance-based pricing model, only charging clients if he improved their keyword rankings, incremental traffic and leads. This model required an obsession with identity resolution, tracking, analytics, and attribution which eventually led to Clarivoy’s evolution. Today, the company is focused on one thing and one thing only – Multi-Touch Attribution – and continues to launch new and innovative marketing analytics solutions for the auto industry.
Considered a digital marketing pioneer, Steve has over 20 years of experience working with clients to ensure they get the best results from their traditional and digital marketing campaigns. In 2014 he was named Ernst & Young Entrepreneur of the Year in Central Ohio. Steve is a graduate of Indiana University’s Kelley School of Business. An avid cyclist, he resides in Columbus, Ohio with his wife and three children. He can be reached at: email@example.com.