The automotive industry is ever-changing and dynamic. It is estimated that 75 new vehicle models will launch in 2018(1) – of which 45 percent will be SUV models(1). And, 3.09 million vehicles1 are expected to hit showrooms in 2019, bringing increased competition and more options to the consumer.
New model consumer paths are long and heavily researched. Overall, new model search consumer paths analyzed were 32 percent longer than the typical auto purchase journey, with eight different models on average searched by one consumer over a 90-day journey(2). Here, to compete, you must ensure that you are part of the consideration process early in the journey. Below are some search strategies to capture new model sales.
Strategy 1: Timing is everything
Take advantage of spikes during and directly following auto show reveals: The best time to capitalize on increased search volume is immediately after a new model reveal. Analysis of Bing Network data(2) shows there are spikes in search volume for new models during and directly following auto show reveals. Volume continues to build as new models are released to the market for sale.
Start with brand keywords + “new” and “2019”: 17.5 percent of all brand searches made by new model search consumers included “new” or the year 2019(2) within the query. Engaged consumers searching for models that were just released or about to be released to market for sale are specifically seeking out new vehicle options to research. Ensure that you allocate your budget to include brand, make, and model keywords that contain the word “new” and the model year to capture consumer interest.
Strategy 2: Drive brand awareness using nonbrand terms
Phase in segment nonbrand keywords: For 2019 models that were just released to market for sale or soon to be released for sale, 40 percent of impressions were driven by non-brand upon the consumer’s first search(2). At the last search touchpoint, only 34 percent of impressions were non-brand as consumers are funneled to brand throughout their research process(2). For consumers who are uncertain as to what make and model to purchase, the investment in segment allows the brand to capture consumers early in their search journey to best engage and funnel them to their brand.
Use in-market audiences to engage searchers whose interest and behaviors align: Grow your consumer base strategically and effectively by using in-market audiences(4) to engage searchers whose interest and behaviors align. With in-market audiences, you can find curated lists of users that have been found to be in-market for a certain purchase category.
Strategy 3: Focus on remarketing
Capture early adopters to re-market later: As competition rises on new model keywords, ad density on the SERP increases. A strong re-marketing strategy will enable you to strategically target consumers throughout their auto search journey and retarget consumers who were the first to search upon reveal, once the model is released to market for sale.
Strategy 4: place an Emphasize on features and value
Luxury vehicle nuances: Focusing on features and value helps in overcoming competition by pushing keyword performance around features. In the case of luxury vehicles, 56 percent of clicks were driven by review and rating keywords2 showing that reviews, awards, and ratings are extremely important to the luxury car buyer.
Economy vehicle distinctions: As for economy vehicles, 32 percent of clicks were driven by specs and information types of keywords such as dimensions, color, and horsepower(2). Equally significant, 37 percent of clicks came from fuel economy keywords such as miles per gallon and fuel efficiency(2), emphasizing the importance of their value for the consumer.
Strategy 5: Drive consumers to your dealership
Invest in the right approach based on brand affinity by geographic location: Here, the investment and implementation of a strong strategy (Retention, Conquest, Segment) needs to be planned based on consumer affinity and marketplace activity. Primarily, one needs to start by investing in conquesting and non-brand (segment), where the brand affinity is much higher for a competitor make. The second step is to invest in retention (brand) where brand affinity is high to protect performance from the competition.
For the brand leader, implementing a strong retention brand strategy to defend the brand and protect their consumers is necessary. As for the brand behind, implementing a strong conquest and segment strategy to grow their consumer base and push brand awareness is the most important pathway to growth. Overall, it is essential to invest in conquest keywords where consumer brand affinity is low to drive awareness for new model launches.
Sources:
(1) 2018 IHS Markit Ltd– US Light Vehicle Market to See Increased
Product Launch Activity in 2018: (https://news.ihsmarkit.com/press-release/us-light-vehicle-market-see-increased-product-launch-activity-2018-ihs-markit-says)
(2) Microsoft– Internal Data: (March 2016 – July 2018)
(3) comScore qSearch, Explicit Core Search, US March 2018: (https://www.comscore.com/Products/Audience-
Analytics/qSearch)