On a recent episode of Inside Automotive, Colin Carrasquillo, the Digital Marketing Director for Nielsen Automotive Group and Host of Marketing Matters, provided a thorough examination of the automotive industry's challenges and the strategic adjustments being made for the upcoming year. His insights centred around a reflective analysis of 2023, outlining both successes and failures while preparing for an uncertain 2024.
Carrasquillo characterised the year ahead as potentially challenging for Nielsen Automotive Group, attributing this sentiment to lower-than-expected sales figures and difficulties faced by key Original Equipment Manufacturers (OEMs) such as Chrysler, Dodge, and Nissan. He noted these obstacles are further exacerbated by rising floor plan costs and diminishing credits, translating into a precarious financial landscape for automotive dealers.
Within this context, Carrasquillo emphasised the shift in the automotive sales and marketing approach, advocating for greater transparency in customer interactions. He critiqued the prevalent “sell, sell, sell” mentality often promoted to newcomers in the sector, positing that effective customer engagement should be akin to natural, open conversations rather than pressure-driven sales tactics.
Despite the financial tribulations of the past year, Carrasquillo highlighted the imperative of enhancing marketing efficiency rather than resorting to cost-cutting measures. He stressed that dealers should revisit core marketing principles in 2025, with particular attention to Search Engine Optimization (SEO) and the strategic deployment of paid media (Search Engine Marketing, or SEM). Carrasquillo likened the aspiration to establish a robust SEO presence to that of a “digital land baron,” with the aim of securing a dominant position in search engine results through organic listings, Google business listings, and paid advertisements.
Looking towards the future, Carrasquillo expressed optimism about the role of automation and artificial intelligence in digital marketing, suggesting that these innovative tools will facilitate more tailored responses to specific customer inquiries. He underscored the necessity for dealers to remain attuned to manufacturer marketing strategies, advising that they should showcase their entire vehicle lineup, even when manufacturers concentrate advertising efforts on individual models.
In conclusion, Carrasquillo urged dealers to swiftly adapt to the evolving market dynamics, with an emphasis on intelligent spending and a broad digital strategy to enhance market share. He encapsulated his message succinctly: "One of the things that I will take away from 2024... is becoming way more efficient with our ad dollars, with our expenditures. Don’t expense your way to a profit, sell your way to a profit."
Source: Noah Wire Services