As new and disruptive business models and technologies continue to evolve and eventually become obsolete, ”strategies” become more nearsighted, too.
These days it’s virtually impossible to stake out the future in long-term marketing and communication plans, the way at least some of us used to do.
Your business plan may still feature business-critical long-term investments in new technology, production systems, and global distribution systems. But even “strategic” branding and marketing strategies are fresh products with increasingly challenging expiration dates.
Make the best use of your limited resources
So, facing ever changing market realities, how do you build a more competitive brand, and how do you ensure more successful marketing activities?
First and foremost, fundamental consumer needs and wants do not change as fast and unpredicted as the media buzz. Reliability and value for money will never be old-fashioned. A trusted, well-reputed dealer brand will still matter, especially for capital goods like cars.
Take a used car dealer, for example. Whether you are a nationwide dealer network or a small family business, the business-critical competitive factors are similar:
- Always stay in sight of potential buyers, which nowadays means being visible and attractive online. How visible, exciting and welcoming is your online showroom?
- Make the best possible use of your limited resources, be it showroom or storage space, advertising budgets, or financial capital bound in your car catalogue.
- Speed up your inventory, in plain language: Sell your cars faster. All your cars, not just the ones in your premium space or the ones in great demand.
- Make sure that your qualities as an updated, customer-focused and innovative dealer is evident to every potential buyer. Today’s buyers do much of their window shopping online and, according to industry research, their preferred medium is video. And they recognize a tech savy market leader when they see one.
- Don’t be afraid to try new sales strategies and tools. Or, for starters, at least find out what they are all about. Like sales videos, customized for every single car in stock, produced automatically in real-time, and ready to show in sales and social media.
Don’t be left behind
It’s already too late to be a pioneer, but pole position will never be irrelevant. So don’t be left behind. By now (October 2021), potential car buyers around Europe and elsewhere have viewed mass-customized car sales videos more than 200 million times. What does your online video strategy look like?