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Meet The Most Powerful Generation :: The Millennials
Millennials represent a significant and influential car-buying demographic, with 78% owning smartphones and 74% influencing purchase decisions of other generations. They exhibit distinct shopping behaviors, preferring text-based communication and expecting immediate responses when engaging with dealerships. To effectively reach this generation, businesses need to adapt by being accessible across devices and implementing fast response strategies.
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Meet The Most Powerful Generation :: The Millennials
- 1. Meet the MostPowerful Generation of Car Buyers The Millennials
- 2. The millennials are a force to be reckoned with.
- 4. Nielsen 1.8 billion globally There are a lot of them…
- 5. Nielsen they have huge spending power…
- 6. Nielsen 78% own smartphones they are technologically advanced…
- 7. 40% of potentialcar 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.
- 8.
- 9. Edelman Berland 80952.0 Survey 2012 74% of millennials say they influence purchase decisions of other generations
- 10. Source: Jumpstart AutomotiveGroup. The Millennial Auto Shopper: A Look At How They’re Buying and Leasing Vehicles Today . July 2013 they are looking for cars.
- 11. So it’s time to pay attention. But how do these millennials behave?
- 12. Behavior 1 | They shop across devices
- 13. Source: Comscore 2012 They are using more devices to shop.
- 14. 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.
- 15. Source: Jumpstart AutomotiveGroup. 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.
- 16. Behavior 2 | Millennials prefer text-based communication
- 17. 2013 Nielsen MobileConsumer Report 764.2 164.2 Text Messages Phone Calls On average, people across generations send many more texts than phone calls.
- 18. Source: 2012 AccentureAutomotive Consumer Study Most people want text-based options.
- 19. Source: 2013 ContactAt Once! Dealer Survey They prefer the option to chat over filling out a lead form.
- 20. Behavior 3 | They expect immediate response
- 21. 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
- 22. How do we adapt to reach customers with these new behaviors?
- 23. 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.
- 24. Be easily accessible on any device.
- 25. Source: 2013 ContactAt Once! Dealer Survey Adopt a text-based strategy.
- 26. • Establish someground rules • What’s expected from your team? • Reinforce the importance of speedy response • Empower your team with mobile Implement a fast response strategy.
- 27. See more resources at… autodealerchat.com/downloads