New models of ownership, market segmentation and mobility require a different approach to advertising and marketing.
According to new market analysis, digitisation is changing the face of car brands, marketing and sales. As reported by OATS, vehicle manufacturers are transforming to tech companies as a result of 'connected car' technology.
However, the change in business model needs to extend further, according to the latest thoughts from Consultancy.uk. In a recent online report, it highlights a change in business models, brought about by new consumer attitudes and requirements in car ownership.
From automation and car-sharing, to challenger companies and mobility as a service, the report states that the opportunities for automotive groups are significant, providing they change their marketing mindset. This includes strengthening their digitial departments and focusing on the digital customer experience - in essence, moving from a product-centric to customer-centric approach and even a more holistic transport model.
This also applies to the use of data from connected vehicles, allowing automakers to: "exploit a rich vein of customer data, enabling them to rapidly tailor their offerings to consumer behaviour."
This latter point is reinforced by an analysis of the future of automotive advertising by Meditel. It makes the point that auto brands need to ensure their ad strategies keep up with the technological pace. According to one industry analyst, brands need to demonstrate a combination of trustworthiness and seamless customer experience.
The use of Augmented Reality (AR) and internet advertising, to 'demonstrate' driving experiences or boost showroom footfall, are just two of the areas highlighted in the analysis. It gives the example of Jaguar Land Rover's Blippar mobile AR app which puts the phone owner in a virtual car and able to see the interior in the context of their real world surroundings.