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Ed, this statement is correct. Dealers need to have a balanced approach to maximizing the visibility on the web. 10 years ago there were not so many choices. Today there are many ways in which dealers can connect with consumers. The missing piece to the discussion is the costs associated with each strategy.Today, dealers have bloated third-party advertising investments yet some will tell me that they "have no budget" for video marketing, social media advertising, and other online strategies that have significant reach. So, while I agree that dealers need to be on third-party classifieds, they may want to consider reducing their ultra-premium packages and move funds around.What is frustrating for dealers is that as the choices for advertising have expanded over the past 10 years and as consumers are using the Internet in new ways, the cost of third-party advertising has only increased. Their pricing models behave as if the third-party platforms are still the primary engagement points for consumers.So it should come as no surprise that top line revenue growth at Autotrader.com and other third-party classifieds will be under pressure as dealers, who are now more educated and empowered, redistribute their marketing dollars to optimize their presence across the web.
Ed, this statement is correct. Dealers need to have a balanced approach to maximizing the visibility on the web. 10 years ago there were not so many choices. Today there are many ways in which dealers can connect with consumers. The missing piece to the discussion is the costs associated with each strategy.
Today, dealers have bloated third-party advertising investments yet some will tell me that they "have no budget" for video marketing, social media advertising, and other online strategies that have significant reach. So, while I agree that dealers need to be on third-party classifieds, they may want to consider reducing their ultra-premium packages and move funds around.
What is frustrating for dealers is that as the choices for advertising have expanded over the past 10 years and as consumers are using the Internet in new ways, the cost of third-party advertising has only increased. Their pricing models behave as if the third-party platforms are still the primary engagement points for consumers.
So it should come as no surprise that top line revenue growth at Autotrader.com and other third-party classifieds will be under pressure as dealers, who are now more educated and empowered, redistribute their marketing dollars to optimize their presence across the web.