The DriveSales™ | Proven and highly recommended sales strategies for the automotive industry!
The word ‘automotive’ is derived from the Greek and Latin words ‘autos’ which means ‘self’ and ‘motivus’ which means ‘motion’ respectively. The automotive industry is concerned with designing developing, manufacturing, and selling motor vehicles. Often this industry is confused with the maintenance of automobiles, the automotive industry does not include automobile repair shops or motor fuel filling stations.
As per the recent report of India Brand Equity Foundation, the Indian automotive industry is the fourth largest in the world. It is expected to reach US$ 251.4–282.8 billion by 2026. This industry attracted Foreign Direct Investment (FDI) which was worth US$ 24.21 billion during the period April 2000-March 2020.
Some top automotive companies in India include Tata Motors Ltd., Maruti Suzuki India Ltd., Mahindra & Mahindra Ltd., Hero MotoCorp Ltd., Bajaj Auto Ltd., etc. However, the COVID-19 outbreak has affected the automotive industry heavily. It has slowed down the process of production which in turn has shattered the supply chain. So, it is crucial to form effective strategies and make the most of what you have if you are in this industry.
Looking for sales strategies for the automotive industry? Wondering where you are going wrong? Hakuna Matata! Listed below are some amazing tips that would help you form the best sales strategies for this industry.
1) Build good market reputation — The first thing that you need to understand is that people do not invest huge amounts easily and when they do, they make sure that they are investing in the right thing by doing thorough research. Therefore, you must build a good market reputation so that your customers can trust you. Having good online reviews is one of the best ways to build trust.
2) Stay on top of the SERP list — Most of the buyers turn to search engines when trying to research for motor vehicles and some top ones on the list get most of their clicks. This makes it mandatory to rise on the top of the Search Engine Results Page (SERP) list. The best way to do so would be implementing SEO i.e. Search Engine Optimization. It means using keywords in your content which you think your target audience would use while using a search engine to drive more traffic to your website.
3) Use Search Engine Marketing — SEO is an effective and free means to get on the top of the SERP list but at the same time, it is a slow process. You need to be realistic, you cannot just start using SEO and get on the top of the list in one day. Many other factors would decide your ranking. Hence, it would be better to invest in SEM i.e. Search Engine Marketing. Bid on the keywords that you think your target audience might use. You have one advantage when you use SEM; you have to pay per click. In this way, you can target the right audience and only pay for getting genuine potential customers.
4) Choose your keywords wisely — Paying per click is an advantage but it can also turn against you if your ads are shown to the irrelevant audience and you still have to pay for their clicks. It is essential that you only bid on keywords that make sense to your industry and would bring potential customers to your website. Try to bid on longer keywords as you will find fewer competitors and more coverage for them.
5) Conduct ad campaigns based on car-buying trends — Try to conduct ad campaigns on holidays. That is the time when most of your prospects will take your ads seriously. People may see and ignore the ads on working days because of their busy and hectic schedules. Analyze the recent car-buying trends and plan your campaigns accordingly.
6) Target right customers through different campaigns — A BMW buyer and a Honda buyer mostly have different needs and expectations. The first one may be more concerned about the leather interior and the second one with longevity. Therefore, try to run different ad campaigns for them emphasizing their needs and expectations.
7) Identify your exclusivity — Why should your prospect choose you over your competitor? This is probably the most common question that runs through everyone’s mind. You must identify your unique point. If you are not offering the best prices compared to your competitor then try to offer some discount to your new customers or free oil exchange for a year.
8) Increase availability — The duration for which you are available also has a great impact on your sales figures. Buyers tend to look for a convenient time and when you limit your availability, you may lose a good number of customers. T be available on all the days of the week if extending hours is not possible.
9) Customer Relationship Management — Customer Relationship Management allows segmentation and automation which saves time and makes it easier to handle clients through mobile when they are out of their office. It ensures better customer service, the discovery of new clients, enhances customer loyalty, etc. If you are not using CRM yet, start using it now.
10) Do not forget to remarket — Remarketing is an essential element of the automotive industry. People tend to forget, you should keep reminding them with the help of intriguing remarketing ads to make sure that no leads fall out.
Now, as an effective SALESPERSON! We can do three things from here.
1) Ignoring the opportunity and blaming the situation for revenue loss.
2) Taking important notes and going back to revisit your sales strategy with the growth mindset.
3) Reach out to The DriveSales™ if you need any specialized help for sales.
To conclude, what you choose to think also provides some idea of your growth mindset. It is something like Tupac Shakur’s quote, “Even the genius asks questions.”