{"id":128715,"date":"2024-06-04T06:45:46","date_gmt":"2024-06-04T05:45:46","guid":{"rendered":"http:\/\/www.spglobal.com\/mobility\/en\/research-analysis\/demographic-marketing-automotive-industry.html"},"modified":"2024-06-04T13:59:44","modified_gmt":"2024-06-04T12:59:44","slug":"demographic-buying-is-leaving-car-customers-on-the-side-of-the-road","status":"publish","type":"post","link":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/2024\/06\/04\/demographic-buying-is-leaving-car-customers-on-the-side-of-the-road\/","title":{"rendered":"Demographic buying is leaving car customers on the side of the road"},"content":{"rendered":"<p ><em>Age-based buying is no longer an efficient way to drive<br \/>\nrevenue and grow auto sales.<\/em><\/p>\n<p >The media and automotive industries have long had a mutually<br \/>\nbeneficial relationship. The Fall TV season was built to align with<br \/>\nnew vehicles coming to market each year. This season gave<br \/>\nautomotive marketers large swaths of the prized 25- to 54-year-old<br \/>\nconsumer base to reach and generate awareness for new vehicle<br \/>\nlaunches. The advertising dollars spent in turn funded TV content<br \/>\ncreation through massive upfront media investments for ads and<br \/>\nproduct integrations.<\/p>\n<p >Both of these industries are now undergoing massive<br \/>\ntransformation and upheaval in response to technology, consumer<br \/>\nbehavior and new competitors. Look at this timeline from two<br \/>\ndisruptors \u2014 Netflix and Tesla \u2014 that are now marketplace<br \/>\nleaders:<\/p>\n<p ><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ihsmarkit.com\/www\/images\/0624\/netflix-and-tesla_040620240729402.png\" alt=\"Timeline of product launches and expansions - Netflix and Tesla - 2007 to 2024\" width=\"900\" height=\"356\" \/><\/p>\n<h2 ><strong>Fragmented media, fragmented data and more customer<br \/>\nchoice<\/strong><\/h2>\n<p >More content, more vehicle types and more connection points =<br \/>\nmore options for what consumers drive and watch. Consumer<br \/>\nopportunities and choice continue to expand, placing greater<br \/>\npressure on marketing budgets. Consider this:<\/p>\n<ul >\n<li>Today, consumers have 450 nameplates to shop. As the<br \/>\nelectrification transition continues, that number will rise 30% to<br \/>\nnearly 650 nameplates by the end of the decade.<\/p>\n<ul>\n<li>In 2016, there were 455 scripted TV series. That jumped 32% to<br \/>\n600 in 2022, according to Variety and Statista.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>Automotive industry brand loyalty sits at 53% (April 2024).<br \/>\nIt&#39;s up four points from its historical low, yet nearly five-in-ten<br \/>\nnew vehicle buyers will leave their current brand with their next<br \/>\npurchase.<\/p>\n<\/li>\n<li>The cost of new vehicle ownership is up 30% since 2019. Only<br \/>\n14% of registered vehicles have an MSRP below $30,000 today. This<br \/>\nwas 50% seven years ago.<\/li>\n<\/ul>\n<h2 ><strong>Demographic buying no longer an efficient way to drive<br \/>\nrevenue and grow sales.<\/strong><\/h2>\n<p >As cost of ownership increases, younger buyers are getting<br \/>\npriced out of new vehicle consideration. Share of new vehicle sales<br \/>\nby the coveted 18- to 34-year-old demographic has dropped to 9.2%,<br \/>\nits lowest share on record. Meanwhile, the 65+ crowd has more<br \/>\npurchasing power than ever before, surpassing 26% of new vehicle<br \/>\nsales, its highest share on record <strong>(Figure 1)<\/strong>. How<br \/>\nmany new car launches are targeting the 65+ demographic?<\/p>\n<p ><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ihsmarkit.com\/www\/images\/0624\/share-of-new-vehicle-retail-registrations-by-age-tier_040620240729402.png\" alt=\"Share of new vehicle retail registrations by age tier\" width=\"600\" height=\"638\" \/><\/p>\n<h2 >Targeting: Advanced audiences for better results<\/h2>\n<p >S&amp;amp;P Global Mobility data provides an overview on the size of<br \/>\nthe US automotive market today. There are roughly 131 million<br \/>\nhouseholds in the US. <strong>(Figure 2)<\/strong><\/p>\n<ul >\n<li>68 million households can buy a car<\/li>\n<li>52 million households can buy new cars<\/li>\n<li>60 million households DON&#39;T buy cars<\/li>\n<\/ul>\n<p >Being able to target the 52% of US households with car-buying<br \/>\npotential while limiting the waste with the 60 million households<br \/>\nthat don&#39;t buy cars is where automotive marketers are going to<br \/>\nstart maximizing their return-on-ad-spend (ROAS).<\/p>\n<p ><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ihsmarkit.com\/www\/images\/0624\/household-universe-sizes_040620240729402.png\" alt=\"Household universe sizes\" width=\"700\" height=\"387\" \/><\/p>\n<p >We can take this a step further and look at buy-through rates<br \/>\nand sales performance from the most popular automotive buying<br \/>\ndemographic of adults ages 25 to 54 and compare that to an advanced<br \/>\naudience of in-market households (0-12 months) for a new vehicle<br \/>\n<strong>(Figure 3).<\/strong><\/p>\n<p ><strong><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ihsmarkit.com\/www\/images\/0624\/automotive-buyer-compare-report-june-to-november-2023_040620240729402.png\" alt=\"Automotive buyer compare report June to November 2023\" width=\"800\" height=\"399\" \/><\/strong><\/p>\n<p >The 60 million households with adults aged 25 to 54 bought 2.51<br \/>\nmillion new vehicles over a 6-month period, a purchase rate of<br \/>\n4.17%. Comparably, the in-market for new vehicle segment represents<br \/>\n21.6 million homes that purchased 2.64 million vehicles for a<br \/>\nbuy-through rate of 12.18%. That&#39;s 3x greater efficiency and the<br \/>\nsame impact to sales.<\/p>\n<p >The takeaway: Maximizing sales and buy-through rates by<br \/>\nidentifying and targeting the households that are ready and able to<br \/>\nbuy is the realized value of <a href=\"https:\/\/www.spglobal.com\/mobility\/en\/products\/polk-audiences.html\"><br \/>\nPolk&#39;s advanced audiences<\/a>.<\/p>\n<h2 ><strong>Measuring outcome over output<\/strong><\/h2>\n<p >Business outcomes are crucial for assessing the success of your<br \/>\nmarketing investment. Savvy marketers are prioritizing campaign<br \/>\nmeasurement solutions that deliver real-times sales lift and<br \/>\nbuy-through rates over options that rely on click stream behavior<br \/>\nproxy metrics, like site visits and content views.<\/p>\n<p ><a href=\"https:\/\/www.spglobal.com\/mobility\/en\/products\/polk-signals.html\"><br \/>\nPolk Signals data<\/a> allows marketers to see total sales impact<br \/>\n\u2014 for themselves and the competition \u2014 getting actionable<br \/>\ninsights that lead to smarter strategies and better decisions.<br \/>\nUsing real-time sales data for optimization allows marketers to<br \/>\nanalyze data mid-flight and shift toward best-performing media,<br \/>\nreducing waste and improving KPIs like cost-per-vehicle sale and<br \/>\ntarget buy through rates.<\/p>\n<h2 ><strong>More choice and change are coming<\/strong><\/h2>\n<p >S&amp;amp;P Global Mobility projects more than 130 new vehicle<br \/>\nlaunches in the next two years \u2014 and more than half will be for<br \/>\nEVs. As automotive and media industries navigate the bumpy paths to<br \/>\nelectric vehicle and alternative TV currency adoption, marketers<br \/>\ncan be taking these measures to mitigate waste and maximize<br \/>\nperformance:<\/p>\n<ol >\n<li>Increase development and use of advanced audiences that focus<br \/>\non in-market shoppers and decrease the reliance on demo-based<br \/>\nbuying.<\/p>\n<\/li>\n<li>Buy more addressable media. The higher perceived cost can be<br \/>\nmore than justified by higher ROI and ROAS.<\/p>\n<\/li>\n<li>Prioritize business outcomes like sales lift and buy-through<br \/>\nrates as core metrics for in-flight optimization and campaign<br \/>\nROI.<\/li>\n<\/ol>\n<p >From launching new vehicles to targeting specific customers with<br \/>\na customized service offer, automotive marketing has always<br \/>\nemployed a large arsenal of tactics to engage customers and drive<br \/>\ndealership traffic. The available tools are getting better now,<br \/>\nleveraging technology and data science to develop advanced<br \/>\naudiences, messaging strategies, improved digital communications<br \/>\nand more robust measurement solutions.<\/p>\n<p >These are going to be critical for success because automotive<br \/>\nmarketers will have to manage more customer types, vehicle types,<br \/>\nconnection points, and buying motivations \u2014 all while making<br \/>\nsure they don&#39;t pass by any more customers outside that 25- to<br \/>\n54-year age range.<\/p>\n<p ><a class=\"primary-button\" href=\"https:\/\/www.spglobal.com\/mobility\/en\/products\/polk-audiences.html\"><br \/>\nLearn more about Polk Audiences<\/a>.<\/p>\n<p ><a class=\"primary-button\" href=\"https:\/\/www.spglobal.com\/mobility\/en\/info\/0223\/polk-automotive-solutions-newsletter.html\"><br \/>\nSign up for the Polk Automotive Solutions newsletter<\/a>.<\/p>\n<p ><em>Authored by David Kaufman, Sales and Customer Care Executive<br \/>\nDirector, and Jason Jordhamo, Product Management Director, S&amp;amp;P<br \/>\nGlobal Mobility.<\/em><\/p>\n\n<h2><b>Commercials Cooperation Advertisements:<\/b><\/h2>\r\n<p><br>(1) IT Teacher IT Freelance<br> <\/p>\r\n<a href=https:\/\/itteacheritfreelance.hk\/wordpress><img src=http:\/\/gamefootballmobileanimeiphone.com\/wp-content\/uploads\/2023\/09\/ITTeacherITFreelance-Website.png alt=IT\u96fb\u8166\u88dc\u7fd2 java\u88dc\u7fd2 \u70ba\u5927\u5bb6\u914d\u5c0d\u96fb\u8166\u88dc\u7fd2,IT freelance, \u79c1\u4eba\u8001\u5e2b, PHP\u88dc\u7fd2,CSS\u88dc\u7fd2,XML,Java\u88dc\u7fd2,MySQL\u88dc\u7fd2,graphic design\u88dc\u7fd2,\u4e2d\u5c0f\u5b78ICT\u88dc\u7fd2,\u4e00\u5c0d\u4e00\u79c1\u4eba\u88dc\u7fd2\u548cFreelance\u81ea\u7531\u5de5\u4f5c\u914d\u5c0d\u3002\/><\/a><p><a href=https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/findteacher>\u7acb\u523b\u8a3b\u518a\u53ca\u5831\u540d\u96fb\u8166\u88dc\u7fd2\u8ab2\u7a0b\u5427! <\/a><br>\r\n\r\n\u7535\u5b50\u8ba1\u7b97\u673a -\u6559\u80b2 -IT \u96fb\u8166\u73ed\u201d ( IT\u96fb\u8166\u88dc\u7fd2 ) \u63d0\u4f9b\u4e00\u500b\u65b9\u4fbf\u7684\u7535\u5b50\u8ba1\u7b97\u673a \u6559\u80b2\u5e73\u53f0, \u70ba\u5927\u5bb6\u914d\u5c0d\u4fe1\u606f\u6280\u672f, \u96fb\u8166 \u8001\u5e2b, IT freelance \u548c programming expert. \u8b93\u5927\u5bb6\u65b9\u4fbf\u5730\u5c31\u80fd\u627e\u5230\u5408\u9069\u7684\u96fb\u8166\u88dc\u7fd2, \u96fb\u8166\u73ed, \u5bb6\u6559, \u79c1\u4eba\u8001\u5e2b.  <br>\r\n\r\nWe are a education and information platform which you can find a IT private tutorial teacher or freelance. <br>\r\n\r\nAlso we provide different information about information technology, Computer, programming, mobile, Android, apple, game, movie, anime, animation\u2026 \r\n<\/p>\n<p><br>(2) ITSec<br> <\/p><a href=https:\/\/itsec.vip><img src=http:\/\/gamefootballmobileanimeiphone.com\/wp-content\/uploads\/2023\/09\/ITSec-Main-Promotion-Image.png alt= https:\/\/itsec.vip\/\r\nSecure Your Computers from Cyber Threats and mitigate risks with professional services to defend Hackers.  \r\nITSec provide IT Security and Compliance Services, including IT Compliance Services, Risk Assessment, IT Audit, Security Assessment and Audit, ISO 27001 Consulting and Certification, GDPR Compliance Services, Privacy Impact Assessment (PIA), Penetration test, Ethical Hacking, Vulnerabilities scan, IT Consulting, Data Privacy Consulting, Data Protection Services, Information Security Consulting, Cyber Security Consulting, Network Security Audit, Security Awareness Training.\/><\/a> \r\n<br><br> \r\n<p><a href=https:\/\/itsec.vip>www.ITSec.vip<\/a> <br> <br> \r\n<p><a href=https:\/\/sraa.com.hk>www.Sraa.com.hk<\/a> <br> <br> \r\n<p><a href=https:\/\/itsec.hk>www.ITSec.hk<\/a> <br> <br> \r\n<p><a href=https:\/\/penetrationtest.hk>www.Penetrationtest.hk<\/a> <br> <br> \r\n<p><a href=https:\/\/itseceu.uk>www.ITSeceu.uk<\/a> <br> <br> \r\nSecure Your Computers from Cyber Threats and mitigate risks with professional services to defend Hackers. <br><br>\r\nITSec provide IT Security and Compliance Services, including IT Compliance Services, Risk Assessment, IT Audit, Security Assessment and Audit, ISO 27001 Consulting and Certification, GDPR Compliance Services, Privacy Impact Assessment (PIA), Penetration test, Ethical Hacking, Vulnerabilities scan, IT Consulting, Data Privacy Consulting, Data Protection Services, Information Security Consulting, Cyber Security Consulting, Network Security Audit, Security Awareness Training. \r\n<br><br>Contact us right away. <br><br>Email (Prefer using email to contact us): <br>SalesExecutive@ITSec.vip<\/p>","protected":false},"excerpt":{"rendered":"<p>Age-based buying is no longer an efficient way to drive<br \/>\nrevenue and grow auto sales.The media and automotive industries have long had a mutually<br \/>\nbeneficial relationship. The Fall TV season was built to align with<br \/>\nnew vehicles coming to market each year&#8230;<\/p>\n","protected":false},"author":479,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-container-style":"default","site-container-layout":"default","site-sidebar-layout":"default","disable-article-header":"default","disable-site-header":"default","disable-site-footer":"default","disable-content-area-spacing":"default","footnotes":""},"categories":[3267],"tags":[61,122,127,129,124,128,125,132,131,133,126,130,123,66,94,88,97,56,64,65,60,3344,3351,3357,3360,3335,3340,3362,112,3353,40,75,95,3350,3352,3356,3343,3359,3339,3345,3334,3341,104,3354,33,120,3358,3349,3337,3348,105,101,98,115,30,29,41,86,3342,3361,70,69,68,72,71,26,118,108,87,3355,46,55,48,52,54,51,50,83,3338,62,58,57,3336,109,35,3346,59,63,85,79,82,96,80,27,81,114,44,42,43,45,38,39,110,117,100,111,116,3300,73,89,90,92,91,93,84,78,37,102,34,36,77,67,74,99,113,3347,119,28,121,32,47,49,53,103,31,76],"class_list":["post-128715","post","type-post","status-publish","format-standard","hentry","category-car-or-automobile","tag-airpods","tag-anime","tag-anime-characters","tag-anime-cosplay","tag-anime-edits","tag-anime-merchandise","tag-anime-movies","tag-anime-news","tag-anime-recommendations","tag-anime-reviews","tag-anime-series","tag-anime-streaming","tag-animes","tag-app-store","tag-app-store-samsung","tag-appgallery","tag-appgallery-oneplus","tag-apple","tag-apple-music","tag-apple-tv","tag-apple-watch","tag-auto-financing-guide","tag-automobile-industry-news","tag-automobile-laws-and-regulations","tag-automobile-shows-and-expos","tag-automobile-specifications","tag-automobile-technology","tag-autonomous-vehicles","tag-bbc-sport","tag-best-cars-for-long-drives","tag-best-mobile-games","tag-bixby","tag-bixby-xiaomi","tag-car-accessories","tag-car-comparison","tag-car-customization-ideas","tag-car-insurance-advice","tag-car-interior-design-ideas","tag-car-maintenance-tips","tag-car-resale-value","tag-car-reviews","tag-car-safety-features","tag-champions-league","tag-city-cars","tag-cyberpunk","tag-cyberpunk-2077","tag-driving-tips-and-tricks","tag-eco-friendly-cars","tag-electric-vehicles","tag-family-cars","tag-fantasy-football","tag-fifa","tag-football","tag-formula-1","tag-fortnite","tag-free-fire","tag-free-mobile-games","tag-freebuds-pro","tag-fuel-efficiency-tips","tag-future-of-automobiles","tag-galaxy-a52","tag-galaxy-note-20","tag-galaxy-s21","tag-galaxy-watch-4","tag-galaxy-z-fold-3","tag-game","tag-games","tag-golf","tag-harmonyos","tag-highway-cars","tag-how-to-backup-iphone","tag-how-to-factory-reset-iphone","tag-how-to-reset-iphone","tag-how-to-restore-iphone","tag-how-to-unlock-iphone","tag-how-to-unlock-iphone-5","tag-how-to-unlock-iphone-6","tag-huawei","tag-hybrid-cars","tag-ios","tag-ipad","tag-iphone","tag-latest-car-models","tag-live-soccer","tag-lol","tag-luxury-cars","tag-macbook","tag-macos","tag-mate-40-pro","tag-mi-11-lite","tag-mi-home-security-camera-basic-1080p","tag-mi-home-security-camera-basic-1080p-huawei","tag-mi-smart-band-6","tag-minecraft","tag-miui","tag-mlb-scores","tag-mobile-game-design","tag-mobile-game-development","tag-mobile-game-marketing","tag-mobile-game-monetization","tag-mobile-games","tag-mobile-gaming","tag-nba-scores","tag-nba-standings","tag-nfl","tag-nfl-scores","tag-nhl-scores","tag-off-road-vehicles","tag-one-ui","tag-oneplus","tag-oneplus-9-pro","tag-oneplus-buds-pro","tag-oneplus-nord-ce-5g","tag-oxygenos","tag-p40-pro-plus","tag-poco-x3-pro","tag-pokemon","tag-premier-league","tag-pubg","tag-pubg-mobile","tag-redmi-note-10-pro","tag-samsung","tag-samsung-pay","tag-soccer","tag-sports","tag-sports-cars","tag-steam","tag-steeam","tag-top-10-anime","tag-valorant","tag-when-do-the-iphone-7-come-out","tag-when-does-the-iphone-7-come-out","tag-when-is-the-iphone-7-coming-out","tag-world-cup","tag-xbox-series-x","tag-xiaomi"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts\/128715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/users\/479"}],"replies":[{"embeddable":true,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/comments?post=128715"}],"version-history":[{"count":2,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts\/128715\/revisions"}],"predecessor-version":[{"id":130055,"href":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/wp-json\/wp\/v2\/posts\/128715\/revisions\/130055"}],"wp:attachment":[{"hr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