How much do you spend per car for advertising? What is your ROI on your Marketing
Your advertising should be evaluated by the, per car retailed. I sell 100 Units I should spend 200 PVR, that’s your ad budget. Advertising creates top of mind awareness and it sets the stage for promotions and events. That makes sense I am sure everyone would agree
Your marketing/promotions thought process should be I am investing as an example $20,000 for a marketing event for 5-8 days. At the end of the event I grossed $80,000. Which means the ROI is 400%. Now because of the excitement and the fact that it was targeted and focused your gross PVR is typically higher. Also another way of looking at it is if you set 20k on the table and in a week that pile was 80k that is a winner. Marketing and events are not part of your advertising budget. Marketing and events are incremental sales and are measured by ROI
Your marketing/promotions thought process should be I am investing as an example $20,000 for a marketing event for 5-8 days. At the end of the event I grossed $80,000. Which means the ROI is 400%. Now because of the excitement and the fact that it was targeted and focused your gross PVR is typically higher. Also another way of looking at it is if you set 20k on the table and in a week that pile was 80k that is a winner. Marketing and events are not part of your advertising budget. Marketing and events are incremental sales and are measured by ROI
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© 2010 Created by Greg Goebel.
