For an automobile company trying to sell its various categories of vehicles meant for various customer segments is always the most challenging of all tasks. With competition increasing and new players entering the field with their own brand of vehicles, staying ahead of the competition would require segmenting the market to understand and plan targeted campaigns based on customers’ demand.
Gauging the market
The first step towards segmenting is to evaluate the market. This can be done on the basis of geographic, demographic, psychographic, behavioural and other factors. These factors help in understanding customers’ intent that is derived from their interactions, responses, or sentiments.
It is natural that different customers will be driven by their varied reasons before they make up their mind about purchasing a particular vehicle. Some may want to have a vehicle for transportation or luxury travel purposes. Some customers may take into account issues like safety, fuel efficiency before zeroing in on the vehicle of their choice. Still, a few others would like to own a top-brand car only because it reinforces his or her social status. Identifying preferences is a good way of compiling actionable customers-data for personalized marketing.
However, this brings us to the next important point of how to turn each of these individuals with their unique set of preferences into real buyers. The first step towards that goal would be to identify the unique and different preferences and attributes associated with them. For example if a customer prefers to have car ‘A’ then what are the individual, market, social, economic and other factors that leads him or her to that particular brand of car only.
The next step is to find out if the different groups of individuals with their unique choices can be targeted through data collected from different points of contacts at dealers’ showroom or company websites using their e-mails or other means of communication, etc.
Once a company is able to identify its market based on various factors shaping his or her individual preferences it becomes much easier to target individual customers. But before launching any personalised marketing game plan, it is important to evaluate each customer segment in order to be able to convert them into actual buyers.
Analysing customer info
With such diverse and varied data, a fully integrated marketing platform helps businesses to import customer information from various channels and create a single customer view for personalized marketing. You could create deep segments over rich customer data and automate personalized marketing based on rules and scoring models
Plumb5 Real-time Marketing Platform offers auto businesses, a complete suite of personalization features that runs on 1:1 customer data, with intelligent automation functionalities