tynyuk / Shutterstock.com Market Snapshot As we roll into 2023, automotive consumers are going to want more tech. Demand for electric vehicles continues to heat up, with the market more than doubling in 2021. Connectivity will also continue to be key, with 96% of all new vehicles having built-in connectivity by 2030. Another trend to watch? Consumers’ changing mobility needs. Research from McKinsey projects that up to 1 out of 10 new cars sold in 2030 may be a shared vehicle. At this rate, one out of three new cars sold could be a shared vehicle by 2050. With promotional products, automotive dealerships and brands can reach different audiences with highly targeted messages depending on buyers’ varying needs. Whether these businesses are selling tangible products like muscle cars or services like auto detailing, they all need the same thing: customers. But it’ll take more than a wacky waving inflatable arm-flailing tubeman to attract buyers onto lots and into stores. That’s where promotional products come in. With promotional items part of the marketing mix, automotive businesses can build brand awareness, incentivize test drives, follow up with buyers and stay top of mind long after customers drive away. When it comes to auto dealerships alone, these businesses spent more than $8 billion on advertising last year. The National Automobile Dealers Association estimates that dealerships spend most of their advertising dollars on internet ads, followed by TV and radio ads. There’s no guarantee potential buyers will notice these ads, but that’s not the case with promotional products. People can feel, hold and touch promotional items in their hands, and they use them everywhere – in their vehicle, at home, at school and in the workplace. If you feel like your automotive marketing has been on cruise control, read on for some ideas to shake things up. Consider this your roadmap to creative campaigns that can make your brand unstoppable. Smells Sell The auto air freshener market is nothing to sniff at. The market is currently estimated at $810 million and projected to grow to $918 million by 2028. Want to make vehicles more appealing to buyers? Add logoed air fresheners to every car on the lot. They can help cover up smoke and other odors in pre-owned vehicles and help improve a ride’s overall desirability. Elevating The Car-Buying Experience Buying a new or used car is no small purchase. The average new car price topped $47,000 in May, with preowned cars coming in at around $27,000, according to Kelley Blue Book. Promotional products like travel tumblers, trunk organizers and car chargers can add value to buyers’ overall experience. Proceed With Caution When it comes to driverless cars, most people don’t want to ride in them – just yet. A Pew Research survey found that 63% of Americans are reluctant to ride in autonomous vehicles (AVs) and 45% say they feel uncomfortable sharing the road with driverless cars. Companies that produce self-driving cars – a market that’s projected to reach 65 million vehicles by 2030 – have an opportunity to educate the public about the technology. Through promotional campaigns, automakers can highlight the safety standards for AVs and explain the benefits of enjoying an AV ride. | DECEMBER 2022 | 45 GROW
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