How Cross-Promotion & Cross-Selling Can Help You During the Pandemic
As the country joins forces to contain the current COVID-19 situation, consumers are still cautious, and many businesses are struggling to drive people into their stores. According to many specialists and scientists, the ongoing pandemic outbreak considerably increased the level of uncertainty and anxiety among the consumers, shaping people’s buying behaviors.
But how can you improve your dealership offering and integrate flexibility to return to growth quickly? In these uncertain times, you need to improve your marketing strategies and think outside the box.
Have you thought about integrating cross-promotion and cross-selling initiatives into your current marketing objectives?
Collaborate: Bigger, Better, Cheaper
According to the Cambridge Dictionary, cross-promotion initiatives are “activities that use one product to advertise another.” By teaming up with other local businesses, you can increase your exposure and generate sales opportunities, while splitting cost and reducing expenses. There are plenty of potential partners with whom you can have a mutually beneficial relationship.
Try thinking of marketing actions that will allow shared expenses while benefiting both businesses: Collaborate with a nearby gas station to offer reciprocal incentives and increase your service appointment numbers, reach more potential customers by creating a joint promotional newsletter with a local car wash company, etc.
Looking to Act Alone? Retain Existing Customers
Many cross-selling opportunities can be put in place inside your dealership, especially to retain existing customers. It’s five to 25 times cheaper to maintain a business relationship with a customer than to gain new prospects. In fact, existing clients are 60-70% likely to buy from you again, compared to 5-20% for the new ones.
Make sure to reward existing customers by offering coupons or loyalty programs to boost the sales of your other departments. A satisfied customer will spend more inside your dealership and may drive more people in with its great referral.
Advertise with Coffee
Another way to bring cross-promotion and cross-selling initiatives to your dealership is through your coffee machine. How? Some coffee brewers are now equipped with HD screens that unlock a completely new world of possibilities. Take advantage of that minute of attention while your client is waiting for their coffee. Display brand advertising, show a promo code, promote a contest or even encourage test-driving, etc.
Now that coffee brewer manufacturers are incorporating touchless solutions to their equipment, you can have your own personal advertising company inside your dealership, even during the pandemic.
Get Involved in Nonprofits
More than ever, local communities are seeking support and help to get through the COVID-19 crisis. Have you thought about collaborating with a nonprofit organization or charity?
According to a recent survey conducted by McKinsey & Company, “During these trying times, consumers have a heightened awareness of how businesses interact with stakeholders, local communities and society more broadly.” Make a donation, raise money through a special event or even put in place a volunteering activity with your employees: these initiatives will help you build great relationships among your community and eventually drive people inside your store.
Finding ways to keep your head above the water is not always an easy thing, especially during a worldwide pandemic. It is now time for dealerships all across the nation to develop new ways of working and advertising with their customers.
We’re all in this together, let’s share a cup toward success.