Is Your Dealership Prepared For Generation Y?

Generation Y

 Generation Y

What is your dealership doing to engage Generation Y into becoming a car owner? Research has found that Generation Y  are more likely to view car ownership as more of a distraction rather than a necessity. In fact, 67% of Gen Y think that their needs are met by a combination of walking and public transportation.  With the rising cost of vehicle maintenance and insurance premiums, your dealership must be prepared for Generation Y. By 2020, Gen Y will make up about 40% of the car buying population.

Gen Y spends about 18 hours online gathering digital information before purchasing a vehicle.

Therefore,it is extremely important to monitor your reputation online. Facilitate positive customer experiences by addressing customer concerns as soon as they arise.

More than half of Gen Y would prefer to be driving an alternative power-train five years from now, and are are willing to pay more for it.power-train

However, 85% of Gen Y care about prices and want their favorite car dealerships to offer competitive prices.

According to a 2014 dealer survey, 90.8% of Gen Y  prefer online chats and text messages.

Is your dealership utilizing mobile marketing? A strong mobile presence is a dealership requirement to maintain relevance in a mobile world. In addition, responsive websites are essential given the growing number of smart phone users. Gathering digital information via mobile is on the rise now more than ever.

Gen Y are more likely to purchase a product or service that is associated with a cause.

Utilizing emotional branding in automotive advertising is appropriate when associating your products and services with a cause. For example, showing your target group that your dealership is involved in community events and charity will capture Gen Y’s attention.

How will your dealership prepare for Generation Y? Leave a comment below or connect with us on Twitter and Facebook.

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