dean harrison - uploads.bobitexpos.com · communicating with millennials . facts about mobile...
TRANSCRIPT
Dean Harrison P R E S I D E N T
A G E N D A
o Introduction
o Who are Millennials?
o Misconceptions about Millennials
o Communicating with Millennials
o How apps are different from other forms of marketing
o How we are reaching Millennials
I N T R O D U C T I O N
o Who am I?
o Changes in car industry marketing
o Who is the next generation of car buyers and how do we make the transition?
The next generation is ‘Millennials.’ Who are they?
WHO ARE MILLENNIALS?
WHO ARE MILLENNIALS?
o Basic facts about Millennials
Millennials, defined as consumers aged 18 to 34
Make up 35 percent of loan originations in 2015 with their share will continue to grow
Overall, millennials represent over 83.1 million American consumers, or more than a quarter of the nation’s population
WHO ARE MILLENNIALS?
o Millennial preferences
Have a preference for leasing.
Millennials are increasingly critical of their policies and insurance carriers
Do not like to be advertised to
Well educated but rarely in personal finance.
WHO ARE MILLENNIALS?
o Leasing vs Buying
They have a preference for leasing
The preference for leasing seems to come from a desire to stay up-to-date with technology as well as an unwillingness to invest time and energy into "DIY" car and maintenance.
MISCONCEPTIONS ABOUT MILLENNIALS
o Millennials aren’t buying more cars …There are just more Millennials
o Stats on car purchases by Millennials
Millennials fastest growing group in auto purchases
Student loans accounted for only a slight delay in auto purchase
After that delay, behavior is similar to previous generations
COMMUNICATING WITH MILLENNIALS
We used to sell cars via:
NEWSPAPER
HANDSHAKES
TELEVISION
COMMUNICATING WITH MILLENNIALS
Now we are selling cars via:
INTERNET AUCTIONS
COMMUNICATING WITH MILLENNIALS
What does this ad tell us?
Are Millennials brand loyal?
o Yes, but only if you’re communicating with them in the way they want.
o They are a ‘me’ generation.
o Easy and convenient.
If we’re not providing the ease and convenience they desire, we’ll lose them.
COMMUNICATING WITH MILLENNIALS
Facts about mobile marketing and Millennials 80% Texted in the past 24 hours
Gen X 63%, Boomers 35% 83% Sleep with their mobile device
Gen X 68%, Boomers 50% Use apps when they’re easier to use than Web
browsing, especially if they offer personalization Ages 25 - 44 use the most apps per month, an
average of 29 Ages 18 to 24 spend the most time on their phones,
an average of 37 hours/month
COMMUNICATING WITH MILLENNIALS
Facts about mobile marketing and Millennials Most comfortable with mobile apps and the whole
online experience Used mobile phones during the car shopping process
two-and-a-half times more frequently than did non-Millennials
35% of young buyers thought a lack of a mobile site hurt brands, while 59% said a poor mobile experience had the same effect
A website is not enough Website experience satisfaction receives the lowest
average score among all generations
COMMUNICATING WITH MILLENNIALS
They’re not reading newspapers.
They’re not getting your email messages [SPAM].
They throw direct mail in the garbage.
They’re DVRing past your commercials.
So what’s left?
TEXT MESSAGING PUSH NOTIFICATIONS
COMMUNICATING WITH MILLENNIALS
HOW APPS ARE DIFFERENT
o Opt-in versus forced marketing
o Real time versus delayed messaging
o Measureable metrics versus throwing darts
o Leverage mobile tendencies
TEXT VS PUSH
What ’s the d i f fe rence?
oAlways on the phone
oPrefers low-maintenance
oWilling to pay for protection insurance
oWanting to stay ‘current’ with technology
oWe don’t want to get fined
WHAT STOOD OUT TO US
HOW WE ARE REACHING MILLENIALS
o My CarMobile
o Must have value to consumer so they don’t opt out
o What happens to the vehicle protection program after purchase?
HOW WE ARE REACHING MILLENIALS
o Repository for policy info
o Quick access to claim service
o Quick access to your dealership
o Easy claims management
HOW WE ARE REACHING MILLENIALS
o Building Brand Loyalty with programs
o Building Brand Loyalty by giving them a place to store policy info
o Building Brand Loyalty by pushing info. & messaging with offers
o Improve retention
o Deliver marketing in real-time
o Build brand loyalty
BY LEVERGING MOBILE TENDENCIES
WE CAN:
MYCAR MOBILE
Demo MyCar Mobile
Q & A