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The 4 Most Important Assets of Any Car Dealership in 2021


By Mike Larkin

 

One of my lifelong mentors always asks business leaders this simple question, “What are the most important assets of your business?”


Let me ask you, “What are the most important assets of your business?”

Almost 80% of the time the answer will come back to their amazing people. That’s fair but now let’s change the scenario.

You, as an owner have a meeting with a deca-billionaire interested in buying your business, who asks you, “What are the most important assets of your business?” How will your answer change? After all, if this billionaire buys your company right now, your staff has no loyalty to him (or her) or the other way from owner to staff.

Your company has survived in good times and bad times. Your customers have been loyal but times have changed. Below is a shortlist of 4 of the most important assets every company must build in this digital age of today.

Asset 1:

Your business reputation must match both offline and online. The Car Industry has done a great job of asking its customers for feedback reviews. Yet, ever Car Dealership you look up online on Google, looks exactly the same.

Fact. Before the crisis, 87% of folks that saw a TV ad, heard a radio ad, read a printed ad, heard about your company through word of mouth, and or a hot referral from a friend or family member, go online to check out that company. Most go to Google. Sound right?

This 87% are searching for 3 things. 1. Is this a reputable company? 2. Do they have what I am looking for in product or service (BRAND)? 3. Are they going to give me a good deal?

Car Dealers have reviews, but they are not monetizing on their 5 Star Reviews. Case studies show that companies need 6 to 10 five-star reviews in order to be trusted.

In order to not be a commodity in the Car Industry online, we offer our clients, partners, and prospects, Rep-Vids. Our secret sauce is that we are able to rank these 60 second Hollywood Style productions so that they rank on Google’s 1st page for that business. This results, on average, in a 19% increase year after year. People landing on Google pages such as “Tesla Washington DC Reviews,” either, call, opt-in, set an appointment or buy. See for yourself. Go to Google and search, “Tesla Washington DC Reviews.” Now this company sends all of their marketing traffic to this Google search page. Smart.



Asset 2-4 Lists:

Years ago I heard the quote, “The money is in the list.” That was right about the time I first heard about a small digital book company call, Amazon. Around this time, I started hearing about companies like My-Space, and Facebook as well as YouTube. I started to dream of what it would be like to make money while sleeping.


Email Lists:

I was amazed at how email worked in that I could talk to friends across to world for free. For business, I knew I had to have a product or service that would WOW and attract people to want to join my list of clients, customers, and or members that would pay, yearly, monthly or weekly. Or they could join for FREE and pay after they would see the value.


Nowadays we have added automation to profit funnel campaigns that capture emails and place them into an e-mail sequence or multi-offer campaigns that last for months. Having a system that automatically grows an email list for a company with prospective customers is a winning asset.


Social Media Lists:

How many Social Media Platforms should a business be on in 2021? Let’s start with Why? One day in the not so far off future, companies will have to pay to be on these platforms like Facebook, Instagram, Google My Business, Twitter, LinkedIn, Reddit, Tumbler, and more. Does your business have a presence on all of these platforms? Does your business have a following on all of these platforms?


If you do not have your business on all these platforms while it’s FREE, why not? Facebook alone has 2 Billion active users.

Have you ever not know what to post? How many times a day should you post? What times should you post?

We have a RECIPE of what to post. We have pre-packaged content by niche. This all goes into one system that posts for your business pages at least 2x a day automatically. This has your company stay, top of mind to your followers so that they can share the content to grow your following online every-day, so they can decide when to engage. At least you will be posting content worthy of engagement.


Pixel List:

Four years ago, I had a hard time wrapping my head around, “What a Pixel was, and what it did?” Then when someone told me it was what Amazon has been doing for the last 15 days, I got it.

Most businesses in the U.S. still do not get it. The Car Industry spends billions each year on ad spend. A prospect sees a TV ad or hears a radio ad. What happens next? Well, 87% go online, most to Google. As mentioned before, the smart companies will have 1 to 12 five-star view videos appear as the 1st impression on Google and then go to the website. Great, the dealership has a new visitor. Without a pixel, 96% of the visitor will look around the website and go. The Car Dealership has no way of ever getting that visitor back unless they have a retargeting pixel embedded on their website.


With a pixel, 100% of your Car Dealership’s website visitors will be re-targeted. Meaning, wherever they go online, the Car Dealership’s ads follow for the next 90 days. That means, if they check the news on CNN, they will see an ad for the Dealership, or if they are on ESPN, checking on the score of the games, the Car Dealership’s ads will be right there. We switch up the ads so they see different offers so as not to gain “banner blindness.”


Linkedin | Michael Larkin


Summary:

The 4 most important assets for any company are the:

1). Reputation Match (Offline & Online)

2). E-mail List System and Potential Growth

3). Social Media List System and Potential Growth

4). Pixel List System and Potential Growth

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