Meet The Most Powerful Generation :: The Millennials

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Millennials are the single largest and most influential group of customers that automotive retailers can’t afford to lose. Learn about their demographics, behavioral tendencies, and approaches to capture and keep their attention. Learn more at www.autodealerchat.com/text

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Meet The Most Powerful Generation :: The Millennials

  1. 1. Meet the Most Powerful Generation of Car Buyers The Millennials
  2. 2. The  millennials  are  a  force  to  be  reckoned  with.  
  3. 3. Nielsen 1.8 billion globally There  are  a  lot  of  them…  
  4. 4. Nielsen they  have  huge  spending  power…  
  5. 5. Nielsen 78% own smart phones they  are  technologically  advanced…  
  6. 6. 40% of potential car buying pop. Source: www.dealermarke*ng.com/marke*ng/adver*sing-­‐menu/marke*ng-­‐solu*ons/3291-­‐the-­‐car-­‐buying-­‐decision-­‐new-­‐or-­‐used-­‐for-­‐millennials   and  they  are  influential  in  the  automotive  industry.  
  7. 7. Source: Forbes. www.forbes.com/sites/mattmiller/2012/07/03/why-you-should-be-hiring-millennials-infographic/ They  have  influence,  and  
  8. 8. Edelman Berland 8095 2.0 Survey 2012 74%   of  millennials  say  they  influence  purchase   decisions  of  other  generations  
  9. 9. Source: Jumpstart Automotive Group. The Millennial Auto Shopper: A Look At How They’re Buying and Leasing Vehicles Today . July 2013 they  are  looking  for  cars.  
  10. 10. So  it’s  time  to  pay  attention.       But  how  do  these  millennials  behave?  
  11. 11. Behavior  1  |  They  shop  across  devices  
  12. 12. Source: Comscore 2012 They  are  using  more  devices  to  shop.  
  13. 13. Source: 2013 J.D. Power New Auto Shopper Study. www.jdpower.com/content/press-­‐release/DxowqaR/-­‐2013-­‐new-­‐autoshopper-­‐study.htm   They  use  smartphones  while  they     shop  for  cars.  
  14. 14. Source: Jumpstart Automotive Group. The Millennial Auto Shopper: A Look At How They’re Buying and Leasing Vehicles Today . July 2013 They  rely  on  the  ability  to  research  on-­the-­go.  
  15. 15. Behavior  2  |  Millennials  prefer  text-­based  communication  
  16. 16. 2013 Nielsen Mobile Consumer Report 764.2 164.2 Text Messages Phone Calls On  average,  people  across  generations   send  many  more  texts  than  phone  calls.  
  17. 17. Source: 2012 Accenture Automotive Consumer Study Most  people  want  text-­based  options.  
  18. 18. Source: 2013 Contact At Once! Dealer Survey They  prefer  the  option  to  chat  over   filling  out  a  lead  form.    
  19. 19. Behavior  3  |  They  expect  immediate  response  
  20. 20. Jumpstart Automotive Group :: Looking Back. Looking Ahead http://www.jumpstartautomotivegroup.com/files/JAG-Insights-Book-022014.pdf Automotive News :: Dealers Should Respond to Questions Quickly or Internet Shoppers Will Leave www.autonews.com/article/20140127/RETAIL/301279929/dealers-should-respond-to-questions- quickly-or-internet-shoppers
  21. 21. How  do  we  adapt  to  reach   customers  with  these  new   behaviors?  
  22. 22. Source:  Millward  Brown  Digital/Google  Vehicle  Shopper  Path  to  Purchase  Study,  September  2013     Online Shoppers reference 24 research touch points on average Be  everywhere  they  are.  
  23. 23. Be  easily  accessible  on  any  device.  
  24. 24. Source: 2013 Contact At Once! Dealer Survey Adopt  a  text-­based  strategy.  
  25. 25. •  Establish some ground rules •  What’s expected from your team? •  Reinforce the importance of speedy response •  Empower your team with mobile Implement  a  fast  response  strategy.  
  26. 26. See  more  resources  at…   autodealerchat.com/downloads  

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