3 WAYS TO PREPARE FOR A NEW GENERATION OF CUSTOMERS!
WHY? READ ON.
Do you think your current customer targeting is sufficient for your future? Do you know why you should now be more interested in generation Z than ever before? And who are they anyway?
If you do not have an answer, then read on, because we are confident the following 3 tips for improving the comfort of young customers are certain to help you better appeal to them.
The young generation is very closely tied to the Internet. What is the state of your website?
They know what they want
Up to 56 % of customers from generation Z know what they want before they come to you.
Less than 67 % satisfaction during car purchasing. Why is this number so low?
It is nothing new that the society we know is ageing. The known and familiar customer base is gradually shrinking and it is necessary to look for new opportunities. Do you believe that is not an issue for you? Careful! This trend does not affect only the distant USA, but also eastern Asia (China, Japan and Korea), as well as almost all EU countries.
Targeting generation Z, i.e. the young generation of people no older than 18, is, therefore, more strategically important than ever. In the USA alone generation Z supposedly constitutes approximately 25 % of the population (almost 80 million people!) which is quite a hefty slice of the pie.
But appealing to these young people is no simple task. Methods that worked on their parents are unlikely to help you appeal to their young “digitally-social” hearts, meaning changing up your approach is more important than before. So how to go about it?
In the beginning, there was darkness, and then the Internet was born.
This is how one could describe, with a good deal of exaggeration, the modern thinking of millennials and generation Z. No “old fashioned” going to the dealership, calling and asking around. If this generation wants info, they go find it online. The big respected authority for these generations is Mr. Google and that holds even during the process of purchasing a car thanks to smartphones and tablets. It could seem that thanks to their perfect skills in using modern technologies, this generation would find their dream car in an instant, but the opposite is true. As Car Buyer Study has shown, generation Z and millennials spend the longest time choosing their car, clocking in at approximately 17 hours and 29 minutes, which is approximately 3 hours more than previous generations.
Generation Z has the lowest satisfaction during purchase, with a rating of less than 67 %.
Why is this number so low?
Maybe it is because of their age, maybe it is a lack of experience, but surveys show that from all the generations and groups, consumers from generation Z feel the least comfortable in the dealership. This fact is also confirmed by the Car Buyer Journey survey, which showed they have the lowest satisfaction during a purchase at the dealership of all surveyed groups, at 67 %. Just to compare, people born in 1964 or earlier have an average satisfaction rating of 80 %.
A way of remedying this situation is providing young consumers with a greater feeling of comfort when purchasing a vehicle. But how?
While the jury is still out on whether car sharing and similar options will replace traditional car ownership in the near future, we do know that Generation Z consumers still value human interaction during the car buying process (Cox Automotive, 2016). It is up to you to tailor the dealership experience to them so that it leads to a sale.
Source:www.incadea.com, Gen Z Automotive Study, 2016, Car Buyer Study, 2017
Did you find some inspiration but your system does not allow such changes? Contact AXIOM PROVIS Int. and we can help!
Over our more than 25 years of experience, designing ERP and DMS systems tailor-made for your business and optimising your daily processes has become an integral part of our company’s specialisation. As one of the technological leaders focused on information systems and special technical solutions for the automotive industry, we can analyse and advise you on your bottlenecks but also develop and implement reliable solutions that will save your and your customers’ time and are enjoyable to use.