Marketing is a dynamic space. The tips and gimmicks that worked a few years back are now redundant and are now replaced by new ones. They change from industry to industry and brand to brand. One such industry whose marketing history is worth a recall is the automobile industry. This is an industry that is characterized by being about the food chain of stocks, being highly competitive, and bringing in innovation year after year.
With a customer base, so large that is spread over all the countries, consist of people from different income groups and has products that have something for almost all the age categories above 18, marketing has to effective enough to hit all boxes at once.
So let’s have a look at the new-age marketing practice seen in the marketing industry that is agile, aggressive, and effective:
#1 Traditional and Digital:
One of the things that are seen in this industry is that the companies are investing equally in their traditional and digital front. Marketing in a traditional way through hoardings and newspapers, then retargeting them when they spend time online is a great way to ensure brand recall and concert potential buyers to customers.
#2 Mobile Marketing:
It is noted among the marketing circles that people are using their smartphones to find their nearby automobile dealership and make a purchase. And hence more and more individual automobile vendors are venturing into the business of Social Media to ensure specific location-based targeting. This ensures the marketing funds are invested to target an audience that is already leaning towards purchasing rather than investing in a random crowd of people.
#3 Targeted Paper Media:
Yet another practice emerging in the automobile industry is an agile approach in paper media. This practice has its base in the price range of cars and the kind of media consumed by different sects of people.
While CXOs and other higher-income groups would more focus on business magazines and the middle-income groups would go for the regular Daily, marketing of the car based on their consumers is done accordingly, i.e. a luxury sedan can be seen marketing itself in economic times, and a compact family car can be seen in The Hindu.
Where marketing is tricky, the Automobile is challenging, and a combination of these just gives us many learnings and case studies to ponder upon. What marketing strategy did you come across in recent times that you found impactful?