Can You Find an Untapped Marketing Opportunity?

Can You Find an Untapped Marketing Opportunity?

Stop doing what everyone else is doing! Find an untapped marketing opportunity for your business! Be unique!

All of these statements are fun to think about, but much harder to do.

The term “easier said than done” certainly comes to mind. The automotiveindustry has been around for more than 100 years and since we’ve had the internet, car dealers have been using it to push their products. How are you going to find these unique opportunities?

Let’s Explore

Review Behavioral Data

More users are online than ever before, which means you don’t have to guess at what ads your customers are responding to and how they want to interact with your dealership. Use the behaviors to identify ways to reach potential customers that you haven’t previously. Changing trends, increased website traffic, and more app downloads are all behaviors you can measure and review to reach your customers.

Identify Needs that You Can Fill

One of the most important untapped marketing opportunities is that of unfulfilled needs. Many inventions are created to simply solve a small problem and then grow to be successful items because others had the same problem. Figure out how your car dealership can fill the needs of your customers. This could be by adding a shuttle service, offering pickup and drop-off services for maintenance appointments, or by expanding your hours.

Are You Tapping Into Tangential Opportunities?

As a car dealership, what type of tangential opportunities are available to you? You sell cars, but you also sell services. These are the typical expectations, but have you ever thought of allowing people to rent vehicles from your dealership? The cars that are earmarked as loaner vehicles could be an additional stream of income as rental vehicles and give your shoppers an alternative to the typical rental companies.

What Challenges Have Not Been Solved in Your Industry?

Is there a problem that everyone in your industry faces, but no one has figured it out? This could become one of the greatest untapped marketing opportunities for you to resolve. Think back to only a little over a year ago when that challenge was how to sell cars during a pandemic. This was quickly resolved. Put your creative minds together and solve the challenges in your area.

Honesty Could Uncover the Path You Take

Are you in the right market for the vehicles you sell? Are customers responding to the products and services you offer? Have you set your dealership up for success? Think about your location, your market, the demographic, and find ways to dig deeper. While you might focus on the majority in your area, the untapped minority might present a new source of success for you.

Review Your Past Failures

Marketing is something that is sometimes successful and oftentimes a failure. You may have identified some failures in the past that you were sure were going to work. Circle back to these campaigns and see if they can become the untapped marketing opportunities that will work now. Just because they didn’t work before doesn’t mean they won’t work now. Try something again but try it a little differently.

Embrace the Hard

Every industry has challenging aspects to it and some of those difficulties are things that some businesses shy away from. Identify some of these for your car dealership and find a way to turn one of the biggest hurdles in your market into a win for your team. Is there something others think you shouldn’t do or can’t do that you want to show them you can do? That’s where the hard lies and where you should go.

Review Needs that Aren’t Met

This is one of the untapped marketing opportunities that might take a little time. Unless you’ve been running a poll for a long time, you might not know what needs your dealership isn’t meeting for your customers. Once you have enough data, find ways to meet the needs that you find your customers want most. When you have the solution, create a campaign around it and let your audience know what you have to offer.

Talk to Your Customers

It should seem pretty direct and simple, but if you don’t talk to your customers, you’re not going to understand what they want from you that you haven’t been able to offer them. What are your customers telling you they want from you? Are you able to offer what they need or can you partner with another company that will fill their needs? Talk to your customers and find out what they want.

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