Appealing to your Millennial customers can prove to be a challenging task in the auto industry. People often assume and associate Millennials with college debt, being unemployed and delaying even obtaining their driver’s licenses. However, research shows that this generation is projected to be the wealthiest ever, far surpassing Baby Boomers and Generation X. In June 2015, the U.S. Census Bureau stated that Millennials now make up more than one quarter of the U.S. population (83.1 million.) Baby Boomers were only representing 75.4 million of the population. With just this number alone, you should be prepared and educated on how best to serve this demographic when you’re selling on the lot and providing services to your Millennial customer.
Much of the discussion in automotive digital marketing is starting to center around Google AdWords and the quality of Website traffic that is being generated. Over the past decade, we have measured our results on Google AdWords by looking at cost per click (CPC), bounce rates, impression share and click through rates. These simple metrics worked great when cars were flying off the shelf.
Over the past few years, however, the quality of that traffic has deteriorated and the cost per sold unit has skyrocketed. The fact that every single dealership in your market is competing for the same set of eyeballs has not helped the situation. Now that sales have slowed down, it’s time to take a deeper look into those AdWords budgets.
Today, dealers are more confused about their digital strategy than ever. Their digital footprint looks fine from afar, but up close it’s fragmented and the dots are not connected. They employ multiple vendors to provide programs and services, but fail to deliver a unified message across marketing platforms.
There’s information overload regarding Big Data. To auto dealers, that equates to “paralysis by analysis.” The savvy dealers are becoming digital disrupters by harnessing technology to change consumer online behavior and forever alter the competitive automotive landscape. Shopping for a car is no longer a linear path to purchase. Dealers chase consumers through multiple online channels, who typically crisscross between them to meet their needs and whims. The successful dealers are able to immediately provide the right message at every intersection, across every channel.