Data driven marketing for automotive industry

Aug 25, 2022

The majority of industries have quickly shifted their focus to the digital world, but the automotive sector is one of the few where in-person interaction still has a significant impact on customer satisfaction. Even though the automotive industry has historically been a leader in adopting new technologies and offering a variety of opportunities based on location data to support real-time asset tracking and data analytics, it still requires in-person or in-store customer contact. Mobile device personalization opportunities are expanding as mobile usage spreads rapidly across the globe. Through mobile apps, businesses can increase market revenue by establishing direct customer relationships. Marketers can now gain tremendous insight into their customers’ preferences by using mobile apps to generate location and demographic data. It gives them the breakthrough to better understand their audience, in addition to enabling them to increase customer loyalty.

Customers anticipate receiving pertinent messages via their preferred channels at their preferred times. Customers become irritated and sometimes even turn away from brands when they fail to deliver. A data-driven strategy is necessary for success to deliver this kind of hyper-targeted marketing. The benefits of data-driven marketing for automotive brands include improved customer acquisition and retention, improved customer experiences, and increased revenue. Here are some ideas for new journey towards data driven marketing:

Email marketing

Using analytics and data to segment marketing lists is the secret to effective email marketing. customers who may have school-aged children may find a larger family vehicle offer more alluring than a sports car. Age, earnings, way of life, hobbies, and other factors should all be taken into account. A highly targeted email has the exact opposite effect as irrelevant emails, which may result in significant opportunities lost.

Data-driven marketing

Hard-hitting evidence replaces conjecture in data-driven marketing. Using information like demographic trends, digital behaviour patterns, purchasing patterns, interests, etc., marketers can hone in on the specific needs and preferences of their audiences. By examining indicators like page or blog visits, ad clicks, video views, items added to cart, etc., marketers can learn more about the interests of their target audience. Then, start the appropriate conversations with them in the appropriate channels. To find the best locations to display your digital ads, combine customer data with machine learning (ML) algorithms.

Geofencing marketing Geofencing is an idea that is very easy to understand. Because geofencing relies on location targeting, the advertising agency or marketer must specify a position targeting parameter. A device is added to the location targeting list when someone enters the geofenced region while using a smartphone with GPS enabled, or when they use an app that records location activity. Using different digital ad platforms, marketers begin showing that individual relevant ads. For up to a month, a person can be targeted based on their GPS location. How often time a person spent inside a geofenced parameter is irrelevant when it comes to location targeting. Stepping into the area designated for location targeting will trigger location targeting immediately.

Data-driven marketing advantages

Automotive retailers can assemble an advanced analytics solution with the help of relevant data from automakers, dealerships, retailers, regional marketing networks, and other stakeholders. By doing this, they will not only provide a seamless customer experience but also build the knowledge base required to target pertinent potential customers and motivate them to take action.

  •  Knowing your target audiences very well

By examining indicators like page or blog visits, ad clicks, video views, items added to cart, etc., marketers can learn more about the interests of their target audience. Then, start the appropriate conversations with them in the appropriate channels.

  •  Boost marketing ROI

Marketing professionals can enhance their performance across various channels and increase attribution accuracy by using customer data to drive campaigns. Marketers can invest in the channels that generate the most revenue for the least amount of money. They are also able to predict outcomes more accurately and plan the budget and resources more effectively.

  •  Find the most effective channels for promotion

Data may reveal more than just the preferences of a target audience. Additionally, it might recommend which platforms a brand should employ to engage its audience both now and in the future. Such knowledge would then enable them to place the message where their intended audience is or will be in the near future.

It is essential to embrace digitalization and a digital communication model from the moment a consumer first interacts with you until the moment he becomes a customer. Not only are businesses changing the way they operate, but consumers are also making different choices about how they spend their time, make purchases, and interact with service providers. Therefore, automakers must develop a digital experience for each stage of the consumer’s purchasing process.

Wrapping up

Making the customer feel like they are being effectively engaged through one-on-one, personal conversation is the key to effective marketing, not making them feel like they are being marketed to. Data-driven marketing helps customers make purchases rather than pushing and ultimately repelling them through timely and pertinent personalization. The argument for data-driven marketing is only going to become more persuasive as a result of regular breakthrough developments in AI and big data. Marketers would be wise to adopt data-driven marketing campaigns. MSRvantage Telematics Solutions can assist you in overcoming obstacles and achieving your objectives. Contact the leading team of fleet industry experts at MSRvantage to discuss the features that will be most beneficial to you as you begin the process of investing in vehicle telematics.

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