How has the Automotive Industry changed?

The growing digitisation of the modern world impacted the automotive industry, and with the emergence of the pandemic, the shift towards digitisation has only accelerated.

Electronic vehicle production is on the rise and set to replace traditional cars in the coming decades. Additionally, a general awareness around environmental issues has also impacted the sales trends in the automotive sector. Car manufacturers have pledged to release more hybrid and electric vehicles in the market in the coming decade and governments around the world are already investing in more charging stations.

Customer behaviour also changed due to the COVID pandemic. Existing trends towards digital purchasing accelerated as work moved to home. People who had resisted online interactions had no choice but to adjust. Those who already had tried online shopping got even more comfortable with it.

There was a noticeable rise in sales of automobiles online. Many e-commerce websites and similar affiliates began selling more vehicles online, offering a hassle-free option for consumers. Due to this trend, there was a steady decline in traditional car dealership saless around the world and a new hybrid sales model emerged. With features like virtual tours and test driving at home, the need for the physical presence of the consumer diminished.

How can the automobile industry make a post-pandemic comeback?

Acxiom’s automotive experts target where the industry is going, from mobility and autonomous vehicles, to redefining the auto lead. Acxiom establishes how sales from existing and new revenue streams both inside and outside of the vehicle are aggregated, attributed, and now monetised.

Acxiom can optimise your data to enable more relevant people-based marketing strategies for your brand and automotive partners.

What are the key challenges and trends in automotive marketing?

With increasingly tough competition coupled with the changing buying habits of the consumer, the automotive industry is under pressure to innovate and adapt to emerging trends.

  • The digital acceleration highlighted organisational silos for automotive groups and dealerships – there is an emerging need for marketing solutions that bring together various technologies and disconnected data.

  • There is a shift from product advertising to improved customer experience, which emphasises the importance of personalisation. Brands are looking for solutions that can deliver valuable customer interactions.

  • The deprecation of third-party cookies is bringing about a major shift in how brands understand, connect and engage with customers in the digital ecosystem.

  • With the emergence of connected car/vehicle data, auto manufacturers and providers need enterprise martech solutions for data collection, management and activation, in order to get most value out of their investments.

  • The increase in competition from digital disruptors outlined the need for stronger D2C relationships and strategy for retention and brand loyalty. However, the lack of customer data and a cookieless future are challenging customer interactions and lead generation.

  • The evolution of urban mobility services is shifting customer loyalty from brands and dealerships to integrated and convenience-driven services and associated mobility options.

What do customer want from the auto market? 

Taking a step back, if OEMs are to meet consumer expectations, they must first understand what buyers are actually looking for from their car. Fundamentally, what people want in a car remains the same as ever: 

  • Reliability is the essential factor in buying a car, it needs to be comfortable and safe, while price, performance and the car’s aesthetics play pivotal roles for different market segments. 
  • Fuel efficiency has become more important over the years, but it remains a secondary concern.  
  • In-car personalisation is an interesting factor for car enthusiasts – for example, fuel suggestions based on the route and typical fuel use. This is the most popular, followed by assistance on the best driving experience (traffic, scenic route etc.) and route memory and prompt (recognising typical routes and asking if you’re on that journey again). 

How to plan a digital automotive marketing strategy?

Nobody connects data, identity and technology across the customer journey like Acxiom. We’re helping Automotive brands mobilise data to transfer the industry’s challenges into customer-centric outcomes in real-time, to deliver personalised experiences.

As Auto manufacturers become software companies, our data-first philosophy can harness connected-vehicle data, delivering valuable insights, all the while building engagement through seamless customer communications. This delivers both a measurable increase in revenue, and a tangible lift in customer satisfaction levels.​

Acxiom can optimise your data to enable more relevant people-based marketing strategies for your brand and automotive partners.

Results of our people-based automotive marketing strategies

Acxiom optimises your first party automotive data to enable more relevant people-based marketing strategies for your brand and partners.

  • <strong>Better Attribution</strong> of Leads to Sales

    Better Attribution of Leads to Sales

    Regardless of whether leads are anonymous or with reduced information, Acxiom can help you recognise additional opportunities and qualified leads across online and offline channels

    • Improve matching of sales leads over traditional matching processes by as much as 25%
    • Increase return from media spend based on improved attribution of sales leads
    • Create better vehicle buyer experiences from an optimised view of the in-market customer journey
  • Increase Lead <strong>Quality and Quantity</strong>

    Increase Lead Quality and Quantity

    Find more qualified leads and a larger quantity of prospects with stronger data, analytics and identity resolution capabilities

    • Increase conversions based on higher quality leads and personalised engagement
    • Get greater speed-to-insights based on optimised lead management
    • Leverage more insights on key audiences to increase media efficiencies and ROI
  • <strong>Improve Engagement</strong> Throughout the Customer Journey

    Improve Engagement Throughout the Customer Journey

    Create an end-to-end customer experience solution by optimising customer portraits through identity resolution, customer journey mapping, and media analysis

    • Find and address gaps in the customer experience, from shopping information to buying to ownership
    • Optimise quantity and quality of channel cadence to deliver a superior customer experience
    • Increase the amount of more relevant, personalised communications
    • Bring customer data to the next level, bridging the gap between paid and owned media for a full-funnel view in a cookie-less world

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