Rapidly changing family dynamics have impacted the way Americans buy cars. As a result, car dealer’s success hinges largely on how one critical market segment—women car buyers—engages.
Women-Drivers.com reports that 45 percent of all new vehicles are purchased by women shopping solo. That’s an estimated 7.9 Million new car sales annually, so why, then, do traditional advertisements’ sales pitches fail to speak directly to women? There is an overemphasis on both gender neutrality and price point. They do that by focusing less on what she wants and more on what a dealership thinks she wants. Like price cuts.
As Automotive Strategist Roger Conant says, “the willingness of the market to fall for the ‘old price’ stuff is on the wane,” as it’s through the dealer experience that clients are either won or lost. He also cites online review platforms as hot venues which help dealerships leverage their successes by turning happy female customers into “raving fans.”
Savvy dealers compel their marketing teams and ad agencies to think like the women they hope to sell cars to. That’s because targeted selling is proven to have a direct, positive impact on the outcome of a woman’s car buying experience while growing value for existing businesses. Perhaps that comes as no surprise.
Dealers interested in innovative selling strategies or value propositions women buyers get behind earn especially high marks. The key is to be a thought leader who stands up as a pioneer willing to differentiate your dealership. The reward? A boost in market share, with a University of Michigan Transportation Research Institute study proving that females hold 50.4 percent of all drivers’ licenses.
Diversification isn’t just good for investment portfolios. It’s good for the car business. Yet, once a dealership opts in it must find ways to stand out and avoid talking to everyone at once. A thoughtful, tailored approach works best when advertising to women. Those in need of extra incentive to show women what sets their auto sales teams apart can consider this: University of California at Davis researchers found that women influence 85 percent of all car buying purchases. Advertising directly to women makes good financial sense.
Trust Her Judgment.
What she’s truly shopping for is a new-car-buying experience that makes her feel good about purchasing a vehicle. And not just any vehicle. PME Enterprises, LLC, notes that 84 percent of women create lists before shopping—as a framework for their purchases. Of those, 78 percent consult related advertisements while writing down what they want. When she brings in a list, she expects a dealership to fill it.
Put Her Car Buying Needs First.
Does price matter? Yes, but only to the extent that it buys her more of what she wants: a positive pre- and post-sale experience. For example, is she being taken seriously? Is she being heard? Even before stepping foot on a lot, are her needs represented in related advertisements? Women turn to dealer reviews 50 percent more frequently than men, focusing their attention on reviews especially posted by other women. Accordingly, engagement efforts aimed at women need to showcase a dealership’s willingness to put her needs first today.
Learn More About How To Catch a Women’s Attention In The Market Place