Reality check. We’re not living in the Information Age anymore.
Newspaper and banner ads have long been forgotten across sales & marketing meetings around the world. Our most basic vehicle for communicating and information gathering, text, is now being replaced with video, emojis, GIF’s, augmented reality, and voice assistants.
1. Consumers will purchase an average of $2,276 over the vehicle base price to get the tech features they want.
Here are a few of the latest tech features that are steering purchasing decisions: V2V Communication, Apple CarPlay/Android Auto, 360-Degree Cameras, Bluetooth Connectivity, Mobile Wifi, Blind Spot Awareness, Wireless Device Charging, Autonomous Vehicles, Heads-Up Display, Keyless Entry, and Forward Collision Avoidance.
Focusing on tech features with your customers is a no-brainer, but it’s also important to know which features they have their eye on like connectivity, convenience, or safety. Your customers are already doing their research on auto tech before they get to you. 87% of consumers will research the latest vehicle technologies before purchasing a new vehicle. The key is to be there when they look. The beautiful thing is they’re all totally demonstrable. Turn the spotlight on these features when you’re selling, whether it’s face-to-face, in your walkaround videos, or on your website.
2. 4X as many customers would rather watch a video about a product than read about it.
The consumers have spoken, time and time again. If you’re not using video in your sales process, you should have started yesterday. Statistically speaking, your competition is using video and they’re gaining sales because of it. Shoppers who view video are 1.81X more likely to purchase than non-viewers. Here is just one of the ways to use video to sell cars:
3. US social-media ad spend will top $8.5 billion this year and reach nearly $14 billion in 2018.
There is a reason that 93% of marketers use social media for business, whether it’s spending money for advertising or simply having a presence. The reason is because there are 1.65 billion, with a “b”, active mobile social accounts globally. Your customers are there, so why can’t you be too? It doesn’t mean you have to spend your portion of the 8 billion, but start somewhere. Being that it’s free, infusing your sales efforts with a social business account that’s active and engaging is a great start.
4. 71% of millennials say it’s important that my car syncs with all other technology in my life, versus 44% of baby boomers (Gen Z 66%).
Are you selling cars to millennials the same way you’re selling cars to baby boomers? This statistic isn’t so much about syncing your phone as it is about the vast contrast in priorities and mindset of these two generations. It’s key to adjust your style based on the generation you’re dealing with. Millennials value your transparency and resources over a lengthy sales pitch like the baby boomers are comfortable with. Millennials and Generation Z will increasingly dominate the pool of car-buyers as time goes on, so it’s imperative to do your research and adjust accordingly.
5. The number of email users in the U.S. is projected to grow to 244.5 million by the end of 2017, and grow to 254.7 million by 2020.
There are 325 million people in the U.S., so that is a huge percentage of emailers out there. What does this mean for you? It means if you’re not taking advantage of email marketing in some form or another, you are seriously missing the boat here. Email marketing yields an average of 4,300 percent return on investment for businesses in the United States.
Don’t forget to focus on personalization and mobile when emailing customers and prospects. If your emails are not mobile-friendly and don’t display correctly, 71% of people will delete it immediately. Harsh, right? Also, personalized emails are proven to improve click-through rates. 74% of marketers say targeted personalization increases customer engagement, and emails with personalized subject lines are 26% more likely to be opened.
For even better results, send an email WITH a video! Marketing trends show that including the word [Video] in an email subject line can:
- Boost open rates by 19%
- Boost click through rates by 65%
- Reduce unsubscribes by 26%
What changes have you, and/or your dealership, implemented to keep with the current trends?