I think that there are several things to consider. First off, $1,400 could buy you a minimum of 70 third party leads or several hundred website clicks. If these are things that you are already utilizing, the question becomes whether or not $1,400 on AutoTrader premium listings on new Hondas is worth the investment. You must consider a few things:
1. How many other Honda dealers/competitors are listed under premium new vehicles?
2. Do I have anything specific to offer on my new vehicles?
3. Can I justify the expense for mostly branding?
Here is my analysis:
1. Yes, I am sure that there are several of your competitors utilizing this service. No, I do not believe that you are "out of the loop". AutoTrader is a used car search portal. You definitely gain an advantage by having that "new car" exposure, but I believe that it helps very little.
2. Honda doesn't offer much in terms of incentives. Lease and APR specials do not show well on AutoTrader. People like HUGE discounts. Plus, most Honda buyers are smart enough to research the incentives elsewhere. If you had a tag line that gave customers reasons to contact you or if you utilized the green specials graphic to further sell your dealership, then I can see some value.
3. There are 3 tiers for merchandising your new cars. There should be a standard, featured and premium. Standard shows no dealership graphics. They also go to the bottom of the search results. Featured listings give you graphics and the ability to show actual photos of your new inventory. These listings will be underneath premium listings. The premium listings give you top tier and special tags. It could be different in your market, but I would suggest using featured listings. It gets the point across and is less expensive.
Yes I have/do use the product. I also have pictures off all of my new inventory and HUGE discounts showing. I get "eh" results. I say no. Good luck!
