One size does not fit all. We have heard this before and the notion applies to advertising planning as well. At iAuto, we have seen that a focus on specific vehicle models ensures the best return on advertising spend.
Each month, incentives offered on vehicles vary. Within each segment, there will be months where your vehicle in the segment has a better (or worse) incentive than others in the segment. This, in turn, impacts the attention, consideration, and demand for the vehicle.
The best practice approach to focus on specific vehicles and improve sales is to –
- Feature your top selling vehicles in your advertising plans.
- Allocate your advertising spend for key vehicles based on the incentives offered and inventory levels.
- Take advantage of advertising coverage you get from Tier 1 and Tier 2.
- Review each month and repeat the process to ensure your advertising spend reaches the key vehicles with the right amount of advertising spend at the right time.