Car Retailing of the Future Takes Centre Stage at CDX 19
Farnborough International recently played host to this years CarDealer Expo. A specialist industry event and growing in size year on year, CDX brings together a vast array of industry suppliers and dealers for a day of best practice and industry insight.
At current, there is much discussion around the future of the automotive sector. With a multitude of factors influencing car sales in the current climate, predicting the long term can be challenging.
However, with certain trends becoming apparent, being able to make informed decisions on customer buying habits are becoming a little easier and it’s these topics that were up for debate on the live stage.
Every year a panel of leaders take to the stage to discuss topics that affect the industry that they’re so passionate about and it was interesting to hear the likes of John Tordoff from JCT600 and Daksh Gupta of Marshall Motor Group talk at length around the challenges that currently affect their dealership groups and networks.
Alongside the debate on the live stage, there were also a number of workshops. Run parallel with the Expo, these workshops provide a platform for specific on-trend topics to be discussed in detail. Naturally, the vast majority of these workshops saw digital best practice take centre stage.
In the workshop rooms, the likes of social media and the power of data and insight were put under the spotlight. Whilst nothing new, these topics are elements that are affecting the industry right now and have been for several years. With areas such as this, the benefits are always changing and evolving and it's for this reason that these workshops prove so beneficial.
What may have worked well a few years ago may now be less effective and new approaches may well be the best way forward. This sea change was highlighted most prominently in the Facebook workshop.
We all know the power of social media. A platform for a captive audience of millions, taking the right approach to your social media can be of significant benefit. As more and more dealers join the platform to take advantage of what's on offer for their business, naturally the platform becomes a more and more crowded and competitive space.
Led by Facebook’s Autos Client Solutions manager, Aiden White, the workshop highlighted how Facebook is working right now and paid and organic content was a key talking point. Whilst organic posts are great for organically building your brand and for brand awareness, creating and running Facebook ads is now essential alongside an organic strategy.
By Aiden's own omission, Facebook is now becoming a pay to play platform. What this means is that to reach increased audience sizes or to stand out above your competition you need to be considering putting a portion of your marketing budget behind Facebook advertising.
Whilst this may sound like a negative as it involves additional marketing spend, this doesn’t necessarily need to be the case. By establishing what marketing channels do and do not work for you allows you to make more informed marketing decisions. By utilising elements such as trackable telephone numbers you are able to accurately identify exactly where a specific lead came from.
When you get this granular with your data, diverting marketing spend towards Facebook advertising becomes easier and also means that you may not have to up your overall marketing spend to get results. The good news is that at current, a little goes a long way and in a Facebook-specific sense, a well-executed advert can deliver a low cost per click value.
The workshops at CDX highlight a range of areas where your business can succeed and the event continues to be a hotbed of insight and industry best practice. At 67 Degrees we support a number of our dealers with their social media marketing and this extends right through to running Facebook advertising campaigns. Alongside an organic strategy, we can work with you to build and implement targeted and high performing Facebook campaigns.
If you would like to discover more about how 67 Degrees can assist your business, you can get in contact with us here.