Automotive giants continue to lead the way in global sales, delivering between 2 million and 10 million cars worldwide in 2017 alone. For smaller luxury car brands, it can seem increasingly difficult to compete with the bigger names. However, whether it be enabling drivers to give their car a snazzy new look or to update its technology, lesser known automotive companies can learn from the giants in order to boost their brand awareness and sales.
The importance of variation for customer retention
In order to make your automotive brand a favorite among luxury car lovers, having a variety of models and engine types on offer is key. This has two advantages: it helps appeal to a variety of new consumers with different preferences and circumstances; it also helps maintain customers who are looking for a change of vehicle, because the range of options is there for them to choose from. Being able to provide add-on options for customers should the desire arise also helps boost the appeal of the brand; it gives the driver the knowledge that their car design is unique.
Customers care about cost and quality
No matter how luxurious an item, humans want do feel like the cost of a product is validated by its performance. It is no different when it comes to cars. Something that is key to high car sales, however, is the brands’ perceived quality in relation to cost of ownership. An automotive company’s reputation in this respect is built up from customers’ experience with different cars of the same brand, as well as reviews from other people. In this way, putting the time into researching customers’ expectations when it comes to cost and quality is crucial, as well as demonstrating an ability to respond to consumer feedback and implementing changes where needed.
The power of marketing
User experience and brand reputation are key to an automotive company’s success. However, brand advertising also plays a pivotal role in raising awareness and creating leads. Car brands tend to target their audience by focusing on the key ideas, such as safety, performance, excitement and emotional attachment. According to research, consumers of luxury cars are driven by hedonistic considerations, with excitement and prestige high on their agenda. Whatever your budget, it is very important that the advertising brings these elements to the fore, in order to appeal to the luxury car consumer.
Small-scale luxury brands can still succeed
When it comes to luxury automotives, the smaller scale brands may well feel dwarfed by their big-name, top-selling counterparts. While matching big brands in terms of sales is unlikely to happen, in the short-term at least, it is still possible to increase sales and enhance your reputation as a smaller name. No matter the size of your company, public perception is extremely powerful. Researching and responding to the needs of your target audience, as well as continually focusing on the quality of your cars, will stand you in good stead.