Golden Rule of Marketing: Repeated exposure to the right people yields results.
This hasn’t changed. The internet adheres to it. Social Media adheres to it and everything that has not yet been invented will adhere to it. It’s going to be the Golden Rule until we are replaced by androids or fall under the grip of a socialist, Atlas Shrugged type of collectivism!
There is no Silver Rule, but we can go down one extra rung and say that there is a Bronze Rule (what is this, Obamacare?) The Bronze Rule: Consistency of message. This is where judgement and creativity can be infused to hone the most appropriate and digestible message.
Now, in order to achieve the Golden Rule, you can broadcast or narrowcast. Broadcasting to repeatedly reach the right people could be very expensive. That’s fine if you’re the biggest, richest dog in the yard, but most dealerships have to look at narrowcasting.
Broadcast media does offer a form of narrowcasting: You have the option to use radio and TV to attach your ‘brand’ to certain types of listeners/viewers, but, after all is said, it’s still broadcasting.
Another way of narrowcasting is to pick a specific audience based on demographics or other easily selected factor and use mail and email to consistently approach those people. However, since you don’t have any indication as to when any of these people might be looking for a car (if you are a dealership), you are still, in a sense, broadcasting, only to a smaller audience.
You can also attack this at the ‘behavioral’ level. This is what the new media attempts (and succeeds) to do. Direct marketing can also use ‘behavioral’ data to achieve this ends using email and mail. Even though email is a lot less expensive than mail, there is a problem: Regardless of how appropriate the target (audience), there is still a good portion of the population that pretty much ignores email that doesn’t come from someone they know. That is why using Postal (that old dinosaur) is still a necessary expense (evil?).
How can you tell your choices are working? Well, before you get into that, you have to remember, marketing is a marathon, not a sprint. Repeated Exposure!
This is where measuring your market share over a statistically significant period comes into play as the only real way to make an assessment of your overall marketing strategy.
Event sales can be profitable, but in order to do them in a way that adheres to the Golden Rule, you would have to do these events pretty much all of the time…until the cost and the lack of credibility drives you into insolvency.
It is amazing how, with every new diversion, it keeps coming back to the Golden Rule.
If you are a dealer and would like a market share study done for your store, contact me. I might be able to provide one for you at no cost depending on the demand and my ability to produce them. Seriously.