A new generation of car buyers are here, and they are also the most difficult generation to market to. Millennials, aka those born between 1982-1999, are the largest living generation and spend more money than any other age group.
There are a lot of stereotypes and misconceptions about millennials. They are seen as obsessed with technology and social media, have a shorter attention span than previous generations, and they are often blamed for the downfall of the auto industry. The truth is that millennials still purchase cars.
Many car dealerships just don’t know how to cater to their needs because of the changes in attitude, communication methods, technology, and financial issues. That’s why at AutoJini, we’ve compiled a guide for auto sales to millennial buyers. Keep reading to learn more about 7 millennial car buying trends.
1. Millennials tend to prefer mobile devices.
The first step to reaching millennial car buyers is to make sure that your website is mobile-friendly and responsive. In a generation of technologically savvy consumers, it is so crucial to reach your consumers no matter what device they are using to access your dealership website.
2. Affordability is more important than ever.
Consumers between the ages of 20-35 are the most educated generation, but they are also the generation drowning in student loans. Creating payment plans that allow customers to pay a smaller amount over a longer period of time will be more appealing to younger customers and allow them to purchase more expensive cars.
3. Millennials place a high value on individuality.
Many want their car to be unique and reflect their personality, but this is even more important as a purchasing factor for millennials. This means that your marketing messages, customer service, and communication with your younger customers need to be personalized. Show them that the car they will purchase is unique and different from the other cars on your lot.
4. Millennials value productivity, and therefore don’t like the feeling of wasting time.
Today’s society is obsessed with productivity, always being on the go, and making sure that every minute counts. With our website features like the ability to schedule appointments or submit finance forms online, you can give your younger customers an easier and faster experience.
5. Experiences are shared on review sites more than ever.
With the abundance of review websites and directory listing sites, it’s easier than ever to share personal experiences with dealerships and businesses. People who read online reviews are just as likely to trust it as they would trust a friend or family member’s recommendation. Check out our guide on online review mistakes that auto dealerships should avoid here.
6. Their preferred method of communication are emails and live chat services.
A lot of younger consumers don’t like face-to-face conversations, and many try to avoid phone calls when they can. Communication is tough! That’s why AutoJini websites have a live-chat feature, so you never miss out on a potential customer. We also believe and know that email campaigns build brand equity and customer loyalty.
7. Millennials are more likely to live in bigger cities where they are closer to work and have better access to public transportation and ride-share services.
John Zimmer, co-founder of Lyft, predicted that car ownership would die out in major U.S. cities within the next 6 years. While car ownership isn’t going to die anytime soon, it is true that transportation is going to look different for the millennial generation in big cities. Options such as leasing or renting a car are more popular, and it is so important to offer these services as alternatives to purchasing a car at your dealership if you can.
Millennials are often quoted as the most misunderstood generation, but that doesn’t mean that they aren’t valuable car buyers. By understanding the differences in purchase behaviors across generations, you’ll be able to quickly learn how to market your cars your customers no matter their age. For more tips on automotive marketing, call us at 515-232-2024 or click on the button below.