What Electric Vehicles Will Mean for Dealers in 2023
Dealerships strive to stay on top of the “next best thing,” much like every other industry. For some dealers, the latest ‘thing’ is figuring out how to include electric vehicle alternatives in their marketing and sales processes. Other times, this involves installing a new kiosk in the lobby or updating a sophisticated messaging tool on your website. And for good cause too: according to a recent survey of 33,000 American drivers, 22.9% would think about purchasing a new or used electric vehicle, and 65% agreed that EVs “are the future of the auto industry.”
Internal combustion engines are being put to the test for the first time since the start of the 20th century. Between now and 2024, almost 20 OEMs will introduce 65 EVs, according to Automotive News. According to JD Power’s EVX study (Electric Vehicle Experience), up to 16,000,000 EVs may be sold during the following four years. Going electric presents a significant possibility for dealership expansion, according to this.
Your dealership must comprehend both the reasons why consumers choose electric vehicles (EVs) as well as the features that consumers seek in EVs in order to take full advantage of this opportunity.
What Modifications Might This Bring?
The expanding demand for EVs will probably require dealerships to create new employee training programs (or at least modify their current training programs), from small rooftop shops to big dealer chains. This will frequently necessitate spending money on brand-new infrastructure that can support electric vehicle sales, service, and charging. Naturally, you’ll want to ensure that such investments will be profitable.
New sales techniques are also being investigated, such as the sale of new cars mostly (if not entirely) online. While intriguing, the majority of customers, especially those buying brand-new equipment, want to visit the dealership at some point. Retailers must therefore have the infrastructure and resources to service clients both offline and online, throughout the entire ownership cycle (financing, buying, maintenance, etc.).
Due to the growing popularity of EVs, developing a marketing plan to attract and influence EV customers will be essential for future-proofing your dealership.
Create Electric Marketing
Dealers must rethink their conventional marketing strategies because of the political and consumer needs driving the development of electric vehicles. A new approach to your marketing initiatives is necessary given the popularity of this novel type of vehicle. EVs are now considered during the purchasing process, and EV buyers have more factors to take into account than the typical new car buyer. Utilize the numerous opportunities to influence your customer’s experience.
Know the facts, first. It’s crucial to understand what you’re offering before you attempt to sell it, just like with any other product. Your clients will ask you a lot of questions. A smart place to start is by having responses to many of the frequent queries or worries that your clients might have. Even better, make an effort to offer your consumers insightful materials that are valued. This might take the form of an EV buyer’s checklist infographic that can be downloaded, lively test drive videos, or even an e-newsletter highlighting the most well-liked EV makes and models. Offering your consumers access to these materials results in a win-win situation where you build profitable relationships and your clients receive the knowledge they require to confidently buy the automobile they’ll adore (EV or not).
Finding Your Buyer is Tip #2. Based on market research, buyer personas are fictionalized depictions of your ideal client. They often include demographic data, behavioral trends, motives, and objectives.
These personas might be a useful tool if you’re unsure of where to look to discover the perfect kind of customer for your dealership. How? As an example, let’s say that environmentalists are health conscious and cultivate part of their own vegetables, recycle frequently, or purchase goods that come in environmentally friendly packaging. You may tell that Randy might fit this persona if he comments on Facebook postings that are related to one of these three subjects. You can better understand your consumers (and potential customers) by using buyer personas. Randy cares more about saving gas than he does about saving money on gasoline. This makes it simpler for you to identify your target audience and develop content and marketing that appeal to them.
Targeting Effectively, Third -Despite the fact that there are millions of potential EV consumers, not all of them are your clients. Clean, pertinent data is essential for successful targeted marketing. Your dealership may engage with the appropriate clients, prospects, and conquest possibilities by using demographic, behavioral, industry, and market data.
You can use a number of targeting strategies thanks to good data. To locate potential customers, your dealership, for instance, does not need to rely solely on a single indicator like equity or car age. To identify individuals with a high likelihood of purchasing today, you can use a large collection of data points. For electric vehicles, perhaps this entails focusing on people who recently relocated to a location with a high concentration of EV registrations and who share demographic traits with other people who have bought EVs from you.
Bonus Advice: Show creativity. Customers anticipate and, quite frankly, desire positive change. What makes your marketing any different, then? Your dealership can promote any vehicle using special social media tools like Instagram Reels and Facebook Live, or you can increase exposure by using a number of interactive filters on stories. Whatever you decide, don’t stop thinking outside the lines!
Your consumers are searching for information from reliable sources as there is increased interest in (and pressure to switch to) electric vehicles. Your dealership has a number of opportunities related to electric, and you can take advantage of them by successfully positioning yourself as a resource for customers (both in-person and online). Whatever the situation, if you have the appropriate support, we think you can genuinely electrify your marketing both today and in the future.
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