TAKE YOUR DATA-DRIVEN MARKETING TO THE NEXT LEVEL
No matter the segment, data is the currency that unlocks an automotive marketer’s competitive advantage.
Data-driven marketing is not a new concept, but its integral role and realization of the range of potential inputs are realities now more widely embraced than ever before, even compared to a few years ago.
Thankfully, the automotive industry, dealerships, and marketers are finally on board. Consumers expect relevant and well-timed messaging across all the channels of their day.
A brand that fails to understand and deliver on this quickly loses its consumers, either alienating them or simply falling out of their line of sight and, therefore, consideration.
So, data-driven marketing as a point of entry is inevitable. What’s next?
For starters, it’s not enough to embrace the concept of data and then use it to inform and somewhat drive your auto consumer marketing. Effective, productive data-driven marketing in this space requires an absolute commitment to good.
It’s good data and skilled application of that data at scale that makes the difference. This is big data in the truest sense.
Thoughtful mining and application of your CRM data—check. Second- and third-party auto data intelligence on hand to factor into the approach—check.
Engagement with data solution and/or media management providers who know their way around modeling—and perhaps come bearing levels of automation to help model, target, serve, and optimize at scale—probably, check. It’s a massive proposition to navigate and nail on your own.
In 2017, we began publishing automotive periodic reports establishing key industry benchmarks so that automotive manufacturers and their dealers could compare website performance, visitor engagement over time, and lead volumes by car segment and region.
The ability to examine consumer trends and actionable insights based on millions of data points enables auto marketers to make strategic decisions on where to invest their budgets.
We’ll soon release an update on behavioral trends that will help brand marketers tailor channel experiences to trigger and deepen—or even simply accelerate—engagement, as well as boost lead volume with an eye toward sales by really understanding the current curiosities and topical browsing behaviors of the consumer.
For example, in our upcoming report, the numbers will show that for small cars, there is evidence that the sales process is becoming shorter, with fewer visits and even less average engagement.
In other words, decisions to buy a small car are made more quickly as the consideration phase online shortens.
Incorporating this intelligence, OEMs should start a proper e-commerce strategy to take advantage of this shift, trafficking or activating concise, compelling messaging and ensuring engagement ease along the funnel.
The goal is to start a straightforward dialog with the inclined consumer and close the deal as soon as possible, before the competition does.
Going forward, we ask ourselves, is there learning in the behavioral patterns of the small-car intender that we can leverage into our greater plan and approach with other models?
We are at the dawn of a new day in how consumers interact with the auto industry and use its products. As we lean further into useful auto data intelligence, we are certain there is trending to glean as it relates to consumer interest in topics such as electrification, self-driving, subscription services, and more.
That’s something that we plan to stay at the forefront of the industry, and share those results to the marketplace.