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Why is it so hard to find ROI in social media? Answer, because there isn't any. Sorry, but its true. But, let me ask you this - what's the ROI on every single phone call that your dealership places or receives? I'm guessing most dealers have some pretty well-paid personnel placing and receiving the phone calls, but no one can put a return on investment on those calls. Speaking of the telephone - what percentage of in-bound phone calls have anything to do with selling or servicing a car? It's less than fifty percent at my dealership. My point is that social media is just another way of communication. Your customers and prospects are out there. Our fans follow us at Suzuki of Wichita because we tell them it's an easy way for them to get our attention and it's easier than picking up the phone and calling. The bottom line is that if you are trying to generate ROI and sell cars using social media - you WILL fail... But, if you want to use it as another way to let your customers and prospects reach you, converse with you, voice their opinions, etc. - then it is invaluable...I agree with David - it's all about the ENGAGEMENT... Stop trying to sell and start listening. You can learn a lot about what makes people tick - and then use that information to develop your other advertising and marketing campaigns...
Why is it so hard to find ROI in social media? Answer, because there isn't any. Sorry, but its true. But, let me ask you this - what's the ROI on every single phone call that your dealership places or receives? I'm guessing most dealers have some pretty well-paid personnel placing and receiving the phone calls, but no one can put a return on investment on those calls.
Speaking of the telephone - what percentage of in-bound phone calls have anything to do with selling or servicing a car? It's less than fifty percent at my dealership.
My point is that social media is just another way of communication. Your customers and prospects are out there. Our fans follow us at Suzuki of Wichita because we tell them it's an easy way for them to get our attention and it's easier than picking up the phone and calling. The bottom line is that if you are trying to generate ROI and sell cars using social media - you WILL fail... But, if you want to use it as another way to let your customers and prospects reach you, converse with you, voice their opinions, etc. - then it is invaluable...
I agree with David - it's all about the ENGAGEMENT... Stop trying to sell and start listening. You can learn a lot about what makes people tick - and then use that information to develop your other advertising and marketing campaigns...