In today’s digital age, consumers have a wealth of information at their fingertips, making the online landscape rich with opportunities and resources waiting to be discovered. As if the competitive landscape wasn’t challenging enough, dealers need to be consistent in making sure they are meeting potential customers right where they are shopping. Several resources that speak on this topic suggest that any retailer that ensures their business has a multi-channel or multi-marketplace strategy is a viable way to build a customer base and accelerate growth to an already established brand. Read on as Equipment Trader for more insight into multi-platform advertising.
Navigating Today’s Sales Journey Through Multi-Channel Advertising
Understanding today’s sales journey is essential to meeting prospects where they currently stand. On average, a customer engages with 24 different resources on their path to a purchase, and 19 of these resources are digital. This shift signifies a change in consumer behavior. Rather than immediately reaching out to businesses when they’re ready to buy, customers are now conducting extensive research beforehand. By the time they finally make contact, they’ve already formed a clear idea of what they desire.
This transformation in the buying process might give the impression that dealers are losing touch with potential buyers, especially as much of this journey unfolds online. However, this digital shift actually opens up unprecedented opportunities to connect with your audience. By diversifying your advertising channels and increasing your online presence, you’re not just casting a wider net—you’re strategically placing yourself in the path of your customer’s virtual journey. This not only increases your chances of engaging with them online but also significantly boosts the likelihood of turning these virtual interactions into real-world sales.
Paving Your Path to Success Across Multiple Channels
Today’s consumers are dedicating considerable time to research before making a purchase. In fact, a 2023 survey of our Equipment Trader customers revealed that 58% of equipment buyers start their researching for their next purchase at least 3 months in advance. For substantial investments, shoppers are fully aware of their significant role in both deciding and influencing the sales process. After navigating through numerous digital channels, most have completed their research; what remains is for you to position your units where these well-informed consumers are searching. Here are a few tips to get you started:
1. Leverage Multiple Online Marketplaces
In today’s digital landscape, adopting a multi-channel sales strategy is crucial for enhancing visibility and boosting revenue. Data from Sellbrite highlights the importance of this approach, showing a 156% average sales increase for merchants on three or more marketplaces compared to single-platform sellers. Relying exclusively on one trusted platform, like Equipment Trader, might limit your potential. Broadening your presence to additional online marketplaces unlocks access to diverse customer bases, amplifying your sales opportunities significantly.
2. Consider the Power of Social Media Advertising
Social media is a dynamic platform for showcasing products and driving online listing traffic. Beyond paid ads, leveraging free resources like sharing links and engaging visuals can attract website or marketplace visitors. Dealers can also use social retargeting strategies to re-engage consumers on multiple platforms. For example, Equipment Trader offers social retargeting tools, which dealers can use to deploy retargeted ads on Facebook and Instagram, drawing customers back to their vehicle listings with a simple click.
3. Tailor Your to Each Platform Marketing Approaches
When promoting cross-platform, it’s crucial to ensure that you have diverse ads optimized for each platform. To truly captivate your audience across various channels, it’s essential to tailor your content strategically. For instance, while short, engaging videos may perform exceptionally well on platforms like Instagram or TikTok, detailed blog posts or comprehensive infographics might resonate more with the LinkedIn or Twitter audience. The key is to adapt your messaging and presentation to fit the preferences and behaviors of users on each platform.
4. Monitor Results Diligently Across Platforms
Investing in advertising without tracking and assessing its performance is like navigating without a compass. It’s essential to monitor and analyze every dollar spent to discern effective tactics from those that underperform. Regular evaluation also yields insights for improvement, be it message refinement, targeting adjustments, or exploring new channels, ensuring success in the evolving market. Recognizing when to pivot significantly keeps you ahead, adapting with confidence and precision. The aim is to maximize the return on every advertising dollar and keep your dealership ahead of the curb.
The era of single-channel selling is behind us, and embracing a multi-channel approach is crucial for staying competitive and achieving sales growth. Research shows that listing on three or more marketplaces can significantly increase sales, highlighting the importance of diversifying your online presence. By expanding your listings to multiple channels, you can maximize your sales opportunities and propel your business forward. Additionally, remember to leverage resources available to you, such as Equipment Trader, the leading online marketplace for equipment sales and purchases. With our cutting-edge dealer solutions and extensive reach, you’re on the path to a successful growth journey.