16 Mar A New Generation of Car Buyers: How Automotive Companies Can Reach Recent College Graduates
With spring right around the corner the world is about to get another batch of university graduates joining the work force. It also means that there will be an influx of people looking to purchase their first car. For the automotive industry now is the time to hone in on analyzing this audience- everything from their wants and needs to their shopping habits.
Most of these recent grads are Millennials, a generation that is changing the way people are shopping their cars. As we already know, Millennials’ phones are practically magnetically linked to their palms. So, it would be crazy to think that they wouldn’t use them as a resource for researching vehicles. Now more than ever people are taking to the Internet to research cars before even heading to the dealership. With that being said, make sure that your website is mobile friendly for a pleasant browsing experience. In addition to this they are also looking for image results to questions such as different features, options, interiors and exteriors of cars. Because of this your goal should be to turn this browsing experience into a purchase and make the most of your mobile marketing.
When consumers are in the researching phase they are often looking for different deals and getting real-time auto advice. Do what you can to improve your SEO so that you are one of the top results when they search. Create blog posts and videos to drive engagement. Many potential buyers will turn to platforms such as YouTube to learn about certain cars, their features and for advice when it comes to purchasing or leasing. What they find through their research has just as much of an influence on them as salespeople do, which is why it is critical for businesses to make themselves visible through these channels.
Unfortunately one thing that this demographic has to deal with is the debt they fall into once they graduate. While many of them would benefit from a car, their wallets are holding them back. In particular, monthly payments are one hurdle they can’t seem to jump over. Consider offering them a plan with low monthly payments to attract them or adjustable loans (as they are more favorable than leases). One thing that might turn this around is that many recent grads are moving home to save money after college. This will put them in a better position when it comes to purchasing a vehicle because they are saving a lot of money by not having to pay rent.
Many recent college graduates are open to purchasing used vehicles or those by lesser-known brands. When looking at cars, they tend to focus on a few different specs:
- High-tech features
- Environmental Impact
This even applies to used cars. They are drawn to smaller vehicles because of their lower price. Once they get to the point where they are about to decide on a vehicle, they then look to see if it truly fits their current lifestyle. Many people in this position will look at a car as one they will replace when they are able to afford something more ‘luxurious’- for now they are focusing on what they really need vs. what they want. When they finally arrive at the dealership they’re only looking for a couple of things. 1) To understand the experience of the car, see how it drives and how they feel in it. 2) They are looking to get their questions answered. Because they have done prior research they already know all about the car and will be looking to the salesperson to answer any remaining questions they were unable to find online.
Remember that these new customers will be finding you in a new way as well. Word of mouth and social media play a big role in directing them to you. Think about all of these aspects when you are strategizing about the best way to target recent graduates. It is important to understand that they will have a different way of approaching this situation than other generations before.
For more tips on automotive marketing check out our blog and contact us with any questions you may have!
- College Grads Are Looking to Buy Cars, Study Shows: http://bit.ly/2naiWzH
- Winning the Moments Before the Dealership: http://bit.ly/2lRxuA7
- How Millennials Are Reshaping Car Buying: http://cnb.cx/2mJteEu
- What Millennials Want in a Car: http://on.mktw.net/2dFvYPj
- Buying a Car: How Millennials Do It Differently: http://bit.ly/2m0zQkE