Auto Sales Trends: What to expect in 2019
It’s time again to figure out what lies ahead in 2019 and chart out a path to maximize profits while working around any potential obstacles. New technology has evolved and is now more accessible to auto dealers across a wide variety of niches.
In this article, we’ll list out a few Auto Sales Trends in 2019 that vehicle sales staff are sure to find relevant and be interested in.
Millennials
For the past few years, everyone seemed to be talking only
about millennials. This is the group of individuals who were born after 1980s,
and are now at a stage of life where they have disposable income. Millennials
are highly brand conscious.
In addition to millennials. marketers and sales
professionals now need to additionally set their sights on another upcoming
generation of individuals – the Generation Z.
The Generation Z
The
Generation Z includes people born between the mid 90s and mid 2000s. The earlier
half of this segment are now in their early twenties and their purchasing power
is steadily on the rise.
Additionally,
this group also accounts for around $100 billion in direct spending,
and they could well become the biggest generation of consumers by 2020.
Millennials
and Generation Z: How Do You Sell to Them?
These generations were born with access to modern
technology and grew up using social media, online shopping, smartphones,
tablets, and other technologies on a daily basis.
However, there is still a large chunk of them who do
prefer brick and mortar stores. Understanding what they care about and how they
like to be reached is critical, in order to come up with the best approach to
sell to them.
Adopting
an Omni Channel Approach
Millennials and the Generation Z expect
a more integrated experience across all channels of a business, which means
that auto dealers need to adopt an omni channel strategy.
Creating omni-channel marketing campaigns does have a
significant impact on resulting sales, and more importantly, it forces a better
relationship between the marketing department and sales department.
The first task for any auto dealership looking to create
an omni-channel outreach is to identify all channels and platforms that are
currently being used and map their linkages across sales and marketing.
Once this is done, the most efficient ways of integrating
social media and other digital technology into brick and mortar establishments
must be determined. The last step is to ensure seamless handovers between all
platforms and channels that customers have access to.
If a lead starts a conversation on one channel and then
wants to switch to another one, they should be able to do that in a hassle free
manner without losing any previously provided information.
Sales Enabling Needs to be More Strategic
Whether it’s the software they’re provided with in order
to help them sell more efficiently or training sessions on a periodic basis,
every sales team gets sales enabling. Going forward, dealers will need a
strategic approach to sales enabling which includes a sharper focus on
helping sales people become better at their job by developing key skills,
placing more importance on helping individual salespeople to sell more by
introducing new technology that can support sales enabling, figuring out
easier ways to on-board new sales people and help them get right into selling
without wasting time, and so on.
Deep
Learning, Machine Learning and AI
As we’ve clearly seen, AI really has the power to disrupt
entire industries, and its application in the sales domain is highly impactful.
Several sales tools, CRM software and prospecting tools are now incorporating
AI-based features. Moreover, deep learning can be automated so as to analyze available
data and understand leads accurately.
In short, if your auto dealership can understand how to
sell to millennials and the Generation Z, incorporate more AI-based tools, make
sales enabing more strategic, and adopt an omni-channel marketing approach,
it will be reasonably well prepared for most of what 2019 can throw at it.
For more information on upcoming sales trends in the automotive industry in 2019 and to know how izmocars can support your auto dealership,Contact Us.