With many consumers questioning major purchasing decisions, brand building and long-term planning have never been more important.Roxanne Harley
The automotive industry has certainly been through hard times over the past three years and doesn’t look like it’s going to stop anytime soon. It is one of the main drivers of economic growth around the world, and in the UK alone he contributed £14 billion (US$17 billion) in aggregate. This is in serious jeopardy due to looming economic headwinds across Europe and the global supply chain crisis.
New car registrations in the EU drop in 2026 Minimum levels for 2022, according to the European Automobile Manufacturers Association. This year he reported that UK new car registrations fell 24.3% in June, the lowest since his 1996. According to S.Society of Motor Vehicle Manufacturers and Traders (SMMT)Consumers have gone from being locked down and unable to buy new cars to being unable to find and now unable to afford a car due to supply chain issues.
There’s a glimmer of hope on the horizon, so it’s not all pessimism. They are transforming to meet new consumer buying trends. In the first half of 2022, global electric vehicle sales soared, with sales increasing by 63%. So where does the marketing budget stay?
Competitor analysis, brand awareness and awareness research from creatives and campaigns is a must when an automotive brand is looking for growth
Some companies and marketers tend to make short-term plans during uncertain times, which will only hurt brand building and sales in the long run. What and how should you plan to ensure brand awareness? Add to this, how can you adapt to ever-changing consumer behavior and needs as the recession spreads across Europe? Is not it?
don’t ignore insight
Azerion’s insights suggest that marketers should look at the purchase journey, play the long game, and focus on driving brand awareness and recognition. Our consumer research shows that consumers are canceling their Netflix subscriptions to save money. Fifty-seven percent said they plan to buy a new car in the next 1-2 years, and 32% said they plan to do so in the next 3-12 months. Brands that tailor their marketing campaigns and utilize different creatives and messages to consumers at different ends of the purchase journey are likely to be more successful.
For example, conversational technology embedded in digital advertising is ideal for users who are on their way to purchase and want more detailed information about a car or model. High-impact, thoughtful creative, on the other hand, is great for building brand awareness. Brands are one of the most important reasons he buys. More than half of respondents say brand is the most important factor when choosing a new car. Competitor analysis, brand awareness and awareness research from creatives and campaigns is a must when an automotive brand is looking for growth.
Where brand meets performance
It is important that your marketing budget not only drives awareness, but also delivers performance. This is for cost-effective media planning and to ensure that the media delivers on both brand and performance. Even though the pandemic has pushed consumer behavior more online, buying a car is seen as a key event that consumers want to experience in person. Azerion research shows that people are reluctant to make their car-buying experience online-only. Only 9% would prefer to use a virtual showroom, and 10% would consider buying a new car online.
Automotive digital branding campaigns not only promote the home brand, but can also include a convenient and easy way for users to book a test drive within the unit, saving the effort and multiple trips to other websites. Minimize clicks. It also helps brands collect first-party data on people in the market for new vehicles, while providing performance that drives brand awareness and drives consumers to local showrooms.
Opinion on Sustainability
Price and running costs have never been more important. Consumers want to see the pricing and financing options available. Price and financing options are the most important factors when buying a new car, even for high-income earners. This focus on running costs and growing concern about environmental impact is fueling growth in electric vehicle sales. According to a recent Deloitte survey, 58% oConsumers agree that climate change is a key issue for them and will switch to brands that align with these values.
Some businesses and marketers tend to make short-term plans during uncertain times, which will only hurt brand building and sales in the long run.
However, there are still distinct barriers to entry, with consumers concerned about charging, range and cost. 66% of his consumers feel there are not enough charging points available, and 62% think electric vehicles are expensive to buy. Explicitly addressing these issues in brand campaigns can help dispel preconceptions about buying an electric vehicle.
It’s not going to be an easy year for auto marketers and brands. With so many consumers questioning major purchasing decisions, brand building and long-term planning are more important than ever. Accessing and using Insights is one of the easiest ways to ensure that your creatives are posted to help engage consumers at each stage of their car buying journey. Ensuring cost-effective and efficient media purchases and planning is the way to ensure that your marketing budget grabs attention, elevates your brand, and delivers performance.
About the Author: Roxanne Harley is Director of Client Strategy. Azerion
