Facebook leads help drive new buyers into the market for automotive dealerships nationwide. Dealerships have been fighting for customers at the bottom of the funnel and it has eroded the gross profit margins. Based on NADA Statistics, the NET margin for auto dealers has dropped from 2.8% in 2014 to 2.1% in 2020.
This has happened because dealerships have not been filling the funnel from the top. They have been using pricing tools like vAuto to price their vehicles at rock bottom prices to convert “in-market” shopper clicks into leads on Third Party Lead Provider websites.
Facebook provides a solution to finding people who have not started their car buying process yet and get offers and vehicles in front of them. These type of customers require a longer follow up cycle to maximize the ROI generated.
Watch the video below to hear TECOBI’s COO Justin Blevins explain how TECOBI’s text messaging software can give car dealerships the ability to do long term follow up, with leads generated from Facebook & Instagram.