When the auto transport business hits a lull and previous strategies become ineffective, it can feel confusing on whether or not you should pull cost or reallocate funds. While it may seem like you should freeze as business slows, sometimes that can be a more detrimental action. But what if you can continue to invest in your business at little to no cost?
The following are three strategies you can use to invest in your business and better position your auto transport brokerage for the long-term.
Marketing Investment Strategy
Many companies facing uncertain financial times often have a knee jerk reaction to divest in their marketing efforts. While cutting unnecessary cost is beneficial, your marketing channels are more critical now more than ever. Luckily, there are many marketing efforts that cost little, but provide a big return.
Build your audience and then leverage valuable and relevant content to nurture the relationship.
Social media is an easy, cost-free way to engage your existing audience while growing your reach. Find the right forums, pages, or online events where you can advertise your services. Research hashtags on Twitter or reddit forums that your community may exist in and engage with them. Build your audience and then leverage valuable and relevant content to nurture the relationship.
Optimize your content! Start a blog about your brokerage, insights on car shipping, tips and tricks for your customers, or valuable information to help your audience. This is not only a free and easy way to help your customers, but good content attracts the right people to your website. The key to build a high ranking website to gain the right customers is building content around Search Engine Optimization best practices. This includes building content that is relevant to what your audience is searching for in google, appropriately using links within you content, and writing evergreen content you can continually use.
Building Network Strategy
Did you ever wish you had time just to connect with new customer segments in the industry? Never quite broke into providing services to car dealerships or OEMs? Now is the chance to strategize and execute on building a bridge to those relationships.
First, identify gaps in your customer base. While Forbes is predicting a potentially more optimistic view on auto sales, what we do know from previous recessions is that used car sales are usually the first to begin to recover. If you don’t already, now would be the time to build your auto dealer relationships. Cater to their needs and offer promotional deals if you are able.
Communication is key not just for visibility, but for an overall reminder that you’re still there, providing value, and ready to help.
If you are in need of a greater carrier network base, identify the tools they use and where they exist online. If there is an app they are dependent on, you can start building your network through their familiar systems. And like mentioned above with investing in social media, check our car hauler forums and begin to engage with your community there.
Once you’ve identified these gaps, build content catered to them. Host a free Zoom happy hour with your existing user base to nurture brand loyalty. You can even host a Q&A with prospective customers to learn more about their needs and how you can assist.
New and existing, customer relationships are critical. Communication is key not just for visibility, but for an overall reminder that you’re still there, providing value, and ready to help.
Solidify Business Strategy
The mission you had at the beginning of 2020 is no longer how you can approach the remainder of the year. As the economy shifts, so does consumer behavior. If you start planning and strategizing now, you’ll be in a better position to not just recover, but profit.
If you start planning and strategizing now, you’ll be in a better position to not just recover, but profit.
Start today by recession proofing your business. Research how the industry is forecasting from previous economic downturns and how you can be proactive. Whether it’s evaluating how you offer your services or reorganize your team for optimal efficiency, keep moving and keep adapting.
While it may seem cliche – as we must keep cars moving, you must keep your auto transport brokerage moving, as well. It’s tempting, but now is not the time to slam on the breaks. Now is the time to make informed strategic decisions that are cost conscious, but provide big, long-term return.
