3 Proven Ways to Conquest and Close Today’s Auto Consumers

For years, the auto industry has counted on loyal consumers and repeat buyers as a major portion of their business. A consumer would step onto a dealer’s lot, check out the inventory, and hopefully drive off in a shiny new vehicle. Of course, we know those days are long over and dealers and manufacturers are turning to alternative methods to capture new customers.

The notion of conquesting has been on the rise for some time and will continue to be a proven customer acquisition strategy. The basic premise behind conquesting is if you can’t sell more to the customers you currently have, then focus on acquiring your competition’s customers. Finding those customers most likely to convert to a new brand offers the ideal opportunity to get them in the right car – the car you sell or manufacture.

The large majority of consumers who are in the market for a vehicle tend to start their research on the Internet. They comparison shop, check out online reviews, or ask for recommendations from their social peers. Once they make a decision, 65% use their mobile phone for additional research while they are standing at the dealer’s lot. By the time the final purchase is made, only 20% of shoppers purchase the vehicle they originally had in mind.

Based on these statistics, manufacturers and dealers certainly have the opportunity to change a consumer’s mind throughout the purchase journey. Here are three proven tactics to help you conquest and close the deal:

One: Know Your Target Audience Better Than Your Competitors Do

Consumers are increasingly choosing dealerships that cater to their needs and preferences, often over a dealership that offers a lower price.

To provide a positive customer experience, you must have a thorough understanding of your potential prospects – demographics, preferences, contacts information, and lifestyle. Most dealerships have pieces of this information sitting in multiple systems. For example, a prospect may have completed a form on your website, so you have their contact information in a CRM system. This same person may have also contacted your customer service department, so additional details are sitting in another system. Data is often stored in multiple systems such as billing systems, marketing programs, customer service departments, maintenance records, and other sources.

Each of these data sources must be integrated into a single database to achieve a 360-degree view. By understanding what potential new customers want, who they are, their channel preferences, and other important details, dealerships can create truly tailored experiences based on individual preferences.

In addition to internal sources of customer data, specialized auto data should be appended for richer insights and more targeted offers.

Two: State of Change Events

Consumers’ needs change based on their life events. Consumers move, change jobs, get married or divorced, start families, and retire. As their circumstances change, so will their needs, tastes, and often choice of brands. A couple expecting a child may be ready to upgrade to a larger vehicle with more safety features. New movers will be looking for new dealerships, and if this move is to a different part of the country, the convertible that was perfect for Florida may not be so ideal for the icy roads of the Northeast.

A Data-as-a-Service vendor specializes in sourcing this data in real-time and delivering to a company for immediate messaging. The right offer can then be sent well before the purchase window of opportunity has closed. In addition, these prospect records can also be enhanced with any number of demographics, such as age, income, or marital status, as well as specialty auto intelligence, such as current make, model, and year of the car they currently drive.

Three: Digital Advertising and Mobile Geofencing

Mobile geofencing has been a hot topic for the past few years as a way for car dealers to enhance their conquesting strategies. Mobile geofencing involves serving mobile ads to competitive locations when your target audience is physically at that location. Geofences are perimeters around locations that trigger a notification based on when a mobile device enters or exits a physical location. These notifications generally take the form of “come see us – we are better” type of messages.

According to a recent Adweek article, a Toyota dealership released a mobile advertising case study using geofencing. They stated – The Toyota ads target consumers who visit Ford, Chevrolet and Mazda dealerships, among others. The automaker claims a 45% lift in foot traffic via consumers who were served mobile ads compared to those who did not receive one.

Leading car companies are using conquesting to raise brand awareness, acquire new customers, and ultimately sell more vehicles. By knowing your audience and targeting them with relevant messages, dealerships can conquest more sales from the competition.

To learn how to acquire industry-leading data on car buyers, click here.