The automotive industry is constantly evolving, with new technology and changes in consumer behavior affecting the way cars are marketed and sold. Here are some of the key trends in automotive sales and marketing that are shaping the industry today:
1. The automotive industry is undergoing a digital transformation. Automotive manufacturers and dealers are increasingly using online presence from websites and social media, to online marketplaces and virtual showrooms. When was the last time you’ve seen a car ad as a commercial on TV vs. radio/social media/online commercial?
2. Personalized and/or targeted marketing is becoming increasingly important in the automotive industry, with consumers expecting customized and tailored experiences. Automotive companies are using data and analytics to understand consumer preferences and behavior, allowing them to tailor their marketing efforts and offerings to individual customers. Think of the time you talked about something with a friend, and then you start seeing what you were talking about on social media.
3. Subscription models are becoming increasingly popular in the automotive industry, with consumers opting for the convenience and flexibility of monthly payment plans instead of traditional car ownership. Automotive companies are responding to this trend by offering subscription services that allow consumers to access a range of vehicles on a flexible basis. The outrage of seated heats being a monthly service!
4. Electric and autonomous vehicles are set to play a big role in the future of the automotive industry. Automotive companies are investing heavily in these technologies, and marketing efforts are shifting to focus on the benefits of sustainable, self-driving cars. I use the word “sustainable” lightly, because there’s a whole conversation that can be said about how “sustainable” an EV really is.
5. Influencer marketing is growing in popularity in the automotive industry, with automotive companies partnering with social media influencers and celebrities to reach new audiences and promote their products.
In conclusion, automotive companies must stay ahead of these trends and adapt to the evolving needs of consumers in order to remain competitive in a rapidly-changing market. I compare the automotive industry to any industry that is trying to actively find their key demographic client; and market to them directly. It seems to be the same thing practically everyone is doing in the business world.
CEO – ABR Houston