Recall Automotive Marketing Secrets Exposed
With thousands of Toyota dealerships already struggling amidst decreased consumer spending and a national credit crunch, Toyota’s massive 2.3 million vehicle recall has store owners nationwide bracing for financial loss and long-term backlash in the first quarter of fiscal year 2010.
The recall, which included many of Toyota’s top selling models such as Camry and Corolla, has also prompted the manufacturer to halt production until the potentially fatal issue of sticking gas pedals is resolved.
While Toyota dealers are understandably panicked and bracing for a big hit following the recall, dealers still have a limited window of opportunity to mitigate financial loss in their local stores.
We’ve created five instantly actionable steps automotive dealers can take to weather aftermath of Toyota’s recall problem:
1. Keep Marketing: It’s a natural reaction to halt marketing when things look bad. However, this can open the door for more financial problems. When dealers suddenly stop marketing it creates doubt in the mind of the consumer and they get scared off. One thing you want to make sure you do is to appear active and busy even though you may not be at the moment. With other manufactures waiting to pounce it’s important to keep a dominating presence.
2. Become a trusted resource for Toyota owners by creating and disseminating information: “Whether it’s in the form of a free report, a toll-free hotline or videos posted on the dealer website, it’s critical to give out free information addressing consumer fears and concerns regarding the product. Fear is a major problem in situations like these. It will be a crucial time for the brand and making people feel more comfortable and confident with their decisions will be critical. This additional confidence will translate into sales and service business.
3. Be available for the local press. Positioning yourself as a resource and advisor for the local media outlets and the local community so everyone can fully understand the situation. This will help take some heat off Toyota and give you the spotlight.
4. Host a “town hall” style seminar at the dealership for owners and residents: We feel open communication is critical in helping consumers feel safe with the brand–and your store–once the issues that prompted the recall are resolved.
5. Use social media platforms to communicate and educate your community: Facebook, Twitter, blogs and video are a great way to open dialogue and engage consumers on their own turf. Social media is the cheapest, easiest and fastest way for dealers to stay on top of questions from the community and become a trusted resource in the face of Toyota’s current storm.”
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