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.
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.