4 Automotive Marketing Trends You Need to Know
A new technological decade has been developed, and companies are preparing to keep pace with emerging trends and evolving user requirements of this era. Business giants claim that they have implemented their strategies to mitigate the risks that may arise in 2013. But are all businesses indeed ready?
The US automotive industry has recorded a sale of 3,689,089 as of March 2013, but will the pace be maintained throughout the year? Are the mobility companies ready for the next decade? To determine this, car manufacturers should be alert to emerging trends in the industry and adopt them in their business models. Here are 4 key trends that all mobility companies should consider when planning their strategy for the next financial year.
1. Governments Will Adjust the Need for Safer and Cleaner Transportation
With regard to safe individual mobility, governments currently focus on three main areas: environmental compatibility, resource preservation, and security. This will make the original equipment manufacturers deliver a diversified range of safer and cleaner vehicles, particularly zero-emission transport. Meanwhile, consumers will weigh their vehicle purchase decisions based on the sanctions and incentives at their disposal.
2. New Players Will Set Foot in the Automotive Sector
The evolution of consumer needs, the introduction of IT solutions for automobiles and the advancement of technology have paved the way for new entrants to stand up in the mobility market. Even non-automotive companies are providing services such as mobility integration, car sharing and “black box insurance” according to use, which determines the upper limit based on the integration of electric vehicles, the real-time evaluation of the performance of driving and advanced auto entertainment systems. The evolution of these new business models will allow new players to become an integral part of the traditional automotive value chain.
3. Automotive Marketing Will Gain an Advantage with Social Media Initiatives
Automotive Marketing trends have witnessed a major change. Since the exhibition of a gleaming car in a space of 30 seconds, the means of commercialization have become more social. Recently, consumers have been doing a thorough investigation before deciding on which vehicle to invest. Social media platforms have facilitated access to a large amount of information, including the perceptions and opinions of other consumers.
Buyers base their decisions on the reviews they get from influential blogs and websites, other consumers and news features, sources in which mobility companies cannot exercise any control. OEMs are taking advantage of social platforms to develop closer links with consumers at the same time. They are adapting to the paradigm shift and are using it to market their products to a wider audience. Read more.
4. The Globalization of the Sector Will Lead to the Appearance of New Risks
Globalization is paving the way for new risks and OEMs are always designing radical operational strategies to mitigate these risks. If the volatile prices of raw materials and the misalignment of supply and demand, or the shortage of skilled workers and changes in regulatory prices, automotive companies face a reality check related to their globalization efforts.
As a result of these challenges, the industry must prepare itself to implement mitigation strategies in order to simplify the adaptation of the value chain. And the implementation of automotive software solutions is considered one of the main solutions to these challenges.
Planning is the key to success in times to come. The automotive marketing agency needs to learn the evolving trends in a prudent manner and prepare its business strategies accordingly.