Glenn Pasch: Should Car Dealers Cut Or Reallocate Marketing Budgets?
Glenn Pasch is CEO of PCG Digital, an Inc 5000 agency that specializes in helping dealerships and businesses generate qualified shoppers. As a leader in digital marketing and leadership training, he’s been featured in CBT News, Dealer Marketing Magazine, Auto Success, and Automotive News.
He is also the host of the “You’re in Charge – Conversations That Spark Change” podcast. Co-author of two books including Selling Cars in the Digital Age and The Power of Connected Marketing. As well, he is an adjunct professor at Northwood University and is also a relatable international speaker.
In this Episode Glenn answers the question to if “dealers should really consider cutting their marketing budget?”
When you look over the last two years when things were going wonderfully, dealers were locked into the inaction of taking things for granted.They didn't wanna look at their marketing and dive in as deeply because while we're making money, it must be working. But Now that we're coming into a time period where rates are going up, inventory levels are starting to come back in some way.Used car prices are coming down, dealers now are starting to ask themselves the question “was my marketing really working? Or is it just because I had the inventory or did I not really look because things were So well?” it's more about reallocating based on what you're trying to accomplish, based on your manufacturer, and your inventory levels and what you're really trying to sell.
During economic downturns, corporations often curtail spending, particularly on marketing budgets. Right now, advertising agencies are struggling to stay afloat, and Google and Facebook are reporting substantially lower ad revenues as marketing spending dives with the business cycle (cyclical marketing). Yet, that is the modern-day analog of bleeding, a once-common treatment that now serves only to weaken patients' immune systems.
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Thanks, Glenn Pasch!
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