2010 Dealer Expo: Dealers Must 'Do the Math' to Properly Quantify Marketing and Advertising ROI

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Join Dana Fisher today or Sunday as she hosts a seminar on how and why dealers need to manage advertising as revenue, not an expense. A recent Dealernews survey indicates that 79 percent of dealers say that driving traffic into their stores is by far one of the biggest challenges they face. With the tight credit situation complicating matters, attracting new and existing customers might be a challenge, but it’s also an opportunity, Fisher says. Many dealers are confident that their sales staff can close the sale if they can just get qualified people in the door.

The survey also shows that while many dealers are content to weather the storm by managing expenses, the majority are still investing between $1,500 and $5,000 per month in marketing. Of this, about $2,500 is being spent on direct mail and postcards with another $750 going toward e-mail marketing, Fisher says.

This research also revealed something unexpected. In her seminar this weekend, Fisher will explain how all survey respondents said they could quantify how many people walked through their doors, called the store and logged onto their website — but none of them had a formal system for counting this traffic. In other words, most of them guessed. Also, about half of the respondents said that their marketing budget was determined as a percentage of revenue, but could not quantify that number, either, even though most who answered the survey were GMs and owners.

At a time when the economic climate is so thoroughly gloomy, Fisher says that it’s not good enough to just guess at what works and what doesn’t. To have truly measurable results from your advertising and marketing, doing the math is an essential component to any advertising or marketing effort.

Fisher, the e-media director at Advanstar Communications, parent company of Dealernews and Dealer Expo, has more than 22 years’ experience in creating integrated media products for advertisers such as Yamaha, Kawasaki and Goodyear. She now translates her success into advertising models for powersports dealers. Swing by her “Manage Advertising as Revenue, Not as an Expense” seminar to learn four steps for creating results-driven ad programs.

Join Fisher in her seminar today or Sunday at 2 p.m. in Room 207 of the Indiana Convention Center.