The Master Merchandising Triangle has been the corner stone of retail advertising programs for the past 30 years. Inventory, Sales Staff and Advertising were the three legs to the Master Merchandising Triangle. Each need to be in place for an effective marketing plan.
The concept is this:
Inventory: Desirable inventory at the right price point is in place and ready to be promoted.
Sales Staff: A well trained and informed staff is ready to sell the promotional vehicles.
Advertising: An attention getting message and a good buy with lots of frequency is in place.
When all of these were aligned you could count on a successful promotion. Today; however, the advertising leg of this triangle has changed drastically. When Lee Galles created PRA (Planned Result Advertising) the only marketing channels available were broadcast television, radio, newspaper and direct mail.
As a result I would like to share with you the new Automotive Marketing Triangle.
The three legs of great automotive marketing are now:
Traditional Media “TV, Radio, Direct Mail, Newspaper”
Digital ”Websites, Text, Email, Banner Ads”
Social Media “Blog, Facebook, Twitter”
You can’t ignore these three critical marketing channels.
One doesn’t replace the other, they only enhance each other. When all three areas are
working effectively the integration is magical. They grow in strength with
each other and are enhanced far beyond their singular strength.
Today, many dealers are questioning traditional media. If you want to make
your traditional media stronger, add digital and social to your marketing
plan. If you want to make your digital marketing more effective, get
involved in social.
One reason dealers are hesitant to execute under this New Marketing Triangle
is budgeting. Budgets are tight and dealers are just not sure how to
integrate the three. Here’s some simple but effective advise.
- 70/25/5 Budget Plan
70% of your budget should be in traditional media.
20% percent in digital.
5% percent in social media.
Reality is this: Social Media doesn’t cost a lot of money just a lot of
time. You only need to budget $2,500 to have the most powerful plan in your
market. It’s really a no brainer.
Your automotive ad agency needs to get you on top of the New Marketing
Triangle. Three good legs are a lot better than two.
How are you doing on your new triangle?