Every year, Canadian consumers change their shopping behaviour with the speed of a finely-tuned CASCAR champion. How do dealers reach and capture this constantly evolving market?
Like their counterparts in other parts of the world, Canadian consumers are time-starved and impatient. Whether their day includes a commute on the 401 or Granville Street, their time is short and their attention span is shrinking. According to the National Post, the average Canadian consumer has an attention span of just eight seconds, even less than a goldfish. The culprit? Portable devices.
The proof is evident in Canadian consumer visits to dealerships, which are now at 1.9, according to Google Think Auto. They’re spending even more time online, checking dealer websites, third-party reviews, OEM websites, and social media like Facebook, Twitter, and YouTube. Google also notes that 84 per cent intend to do more online research to further reduce their dealer visits next time they’re purchasing.
CarGurus recently announced the winners of its inaugural Editor’s Choice Used Car Awards. The awards are based on several factors, including popularity, availability, and expert review scores.
If your dealership sells any of these vehicles, share the award on social media and use it as an additional selling point for each of the winning vehicles. Here’s the list of this year’s winners:
Putting Canadian Millennials behind the wheel: think outside the showroom to reach this growing generation
Meet the Canadian Millennial – probably older than you think, quite possibly a hard-working parent, and with enough obligations to need a vehicle.
According to a survey by Canada Post, a good 33 per cent of Millennials have young families. They’re raising kids, with careers in full swing, and buying homes. That means they’re ripe prospects for car-buying.
Canadian car industry guru Dennis DesRosiers proposes, if you crunch the numbers, it would be impossible for Millennials not to buy cars. DesRosiers finds that car ownership in Canada has “exploded” over the last 17 years, currently standing at 87 per cent. He also notes that the number of the youngest cohort of drivers (under 16) has grown from 48.1 per cent to 54.6 per cent during that same timeframe. And the next two youngest cohorts (16 to 19, 20 to 24) have not declined. “Get them while they’re young and you might have a customer for life,” advises DesRosiers.
So how do dealers capture this growing market segment?
With the average monthly car payment roughly $660, Rob Carrick of the Globe and Mail says consumers are spending too much money on cars. Carrick offered some financial rules for buying a car, and he dug into the data from CarGurus’ Price Trends tool to back his recommendations. Check out his advice here:
Congratulations to the dealerships that were recognized today in the 3rd annual CarGurus Top Rated Dealer Awards!
Based on reviews from car shoppers across the country, these annual awards celebrate a select group of car dealers for their exceptional service and commitment to customer satisfaction. The winning dealers have the highest ratings from shoppers on the CarGurus platform. In this 3rd year of the awards, we were happy to see a 41% increase in the number of qualifying dealers compared to last year.
As Canadian car consumers continue their infatuation with the internet, dealers are sharpening their digital marketing tools to meet the expectations of these demanding consumers.
Leading the charge are the millennials, and with good reason. By 2020, it’s estimated that 40% of new car buyers will be millennials. And 88% of current millennials already use the internet to research a new car purchase.
Automakers have already felt the impact of this cohort. Millennials are less interested in test drives, preferring to do their research on social media and dedicated websites before they even step into a dealership. At that point, they’ve pretty much made up their mind.
But it’s not just millennials. An Ipsos survey for Canadian Black Book found that car buyers make only an average of two dealership visits. That’s a steep decline when compared with the half a dozen visits buyers made barely a decade ago.
Competition is fierce in the auto industry, but dealers can set themselves apart with the right marketing strategy. Ashley Karr, CarGurus’ VP of Global B2B Marketing, outlines five digital marketing tactics dealers should put into action to drive more business this year. Check out page 22 for the full article:
2018 was a banner year for us here at CarGurus: we officially became the fastest growing auto shopping site in the country,1 our Gurus held and attended dealer events across the country, and we launched lots of new content to help you sell more cars!
We took a moment to reflect on everything we did in 2018, and here are some of the highlights.
At CarGurus, we’re working hard to give our dealers better tools to solve the challenge of attribution. We recently launched an update to our Dealer Dashboard that should make it easier for dealers to see which CarGurus leads bought a vehicle.
Lead details added to Removed Listing Activity section
The Removed Listing Activity section isn’t so much new as it is improved. This section lets dealers see their recently sold/removed listings, along with a breakdown of all the CarGurus leads and connections for those vehicles. What’s new is that we’ve added the details of those leads so it’s easier for dealers to tie a specific lead to the sale of a particular vehicle.