The automotive industry has experienced significant transformation with the help of web-based interactions and virtual dealerships. The automotive industry is one of the six industries where most of the purchases are made offline but preceded by online research. In today’s world 95% of the buyer spend time doing online research before making a purchase. Buying a car is a big investment and customers has different expectations from the vehicle and manufacturer. Virtual Studio is a DIY car studio with AI image editing and the ability to create a virtual car dealership experience on your website.
This article explores the importance of modern solutions for automotive marketing, while shedding light on various features of AI-Powered Virtual Studio like Car Turntable, Background Editing, etc., that can elevate your online dealership sales effectively and efficiently.
What is Automotive Marketing?
Nowadays, telling your prospect to buy a car is not necessarily the most effective way of marketing. As most of the customers prefer browsing through online platforms for research and comparisons before making a purchase. Online automotive marketing strategy is essential for effective marketing as it not only helps customers make an informed decision but also gives dealerships valuable insights about customer behaviour and their preferrences.
The automotive aftermarket globally is expected to reach $140 billion by 2027, meaning the compound annual growth rate (CAGR) of 16% from FYI 2021 to FYI 2027. Likewise, various other industries has also experienced the rate of change since the pandemic, forcing people to do most of the task online. This has benefited earlier adopters among automotive companies; significantly boosting the online market presence.
Here, we have highlighted the drawbacks of traditional marketing and the effectiveness of modern day marketing solutions:
Drawbacks of traditional marketing in automotive industry:
- Limited reach: Traditional marketing methods like print ads and billboards have limited reach and may only target a local audience.
- High cost: Traditional marketing channels can be expensive, especially for automotive businesses with tight budgets.
- Limited measurability: It can be difficult to measure the effectiveness of traditional marketing efforts and determine the return on investment.
- Lack of personalization: Traditional marketing methods often lack personalization and fail to target specific customer preferences and needs.
- Difficulty in tracking results: Tracking the success and impact of traditional marketing campaigns can be challenging, making it hard to optimize strategies.
Effectiveness of modern-day marketing solutions in automotive industry:
- Wider audience reach: Modern marketing solutions, such as digital advertising and social media campaigns, can reach a wider audience across various locations.
- Cost-effective: Digital marketing methods often offer more cost-effective options, allowing automotive businesses to allocate their budgets more efficiently.
- Measurable results: With modern marketing techniques, it is easier to track and measure the effectiveness of campaigns, making it possible to adjust strategies for better results.
- Personalization and targeting: Advanced data analytics and customer segmentation enable automotive businesses to deliver personalized marketing messages and target specific customer segments effectively.
- Enhanced tracking and analytics: Modern marketing solutions provide detailed analytics and tracking capabilities, allowing businesses to monitor and optimize their campaigns based on real-time data.
Transforming Your Dealership with Virtual Car Studio
Over the years, the automotive marketing has become heavily dependent on digital channels. However, online shopper’s behaviors can be complicated as the switch from platform to platform before making any decision. This is where virtual studio comes into play, enabling retailers to make better marketing and management decisions.
Here’s how AI-powered Virtual Studio’s automotive software can transform your business effectively:
- Automotive lead management software creates an ecosystem for salespeople to better serve potential customers.
- It provides end-to-end funnel visibility, allowing for a swifter decision-making process.
- Upgrading performance-management systems with standardized, data-driven metrics improves productivity, project maturity, and quality in the automotive industry.
In Addition, automotive data monetization is expected to reach $20 billion by 2030, with the rise of software providers like Spyne offering cloud-based subscriptions for over-the-air software updates to drivers.
Features of Virtual Studio for Efficient & Effective Automotive Marketing
Here are different features of virtual studio that are essential efficient and effective automotive marketing:
- 100+ virtual car background options
- DIY car studio photography app with guided shoot process
- In-app validation to help you click the right images
- 100% automatic image editing for consistent output
- Create a virtual car dealership experience on your website in one click
- Integration with major DMS platforms
- Create 360 spin or car turntable in minutes to showcase your car from every angle
- Holistic dashboard to track and manage every car photograph in real-time
Conclusion
The global automobile market size was worth around USD 2810.63 billion in 2022 and is predicted to grow to around USD 3969.84 billion by 2030. In 2024, global car sales are expected to top 69 million, with greater market access in developing countries and emerging markets fueling this growth. In such a competitive market In such a competitive market, promoting modern solutions for automotive marketing like Virtual Studio and automotive software can provide your business with a strategic edge to effectively showcase their products, enhance customer engagement, and streamline operations. Spyne is trusted by 100+ enterprises globally for providing innovative solution to businesses for creating car turntable and other immersive virtual experiences, allowing their customers to explore vehicles in a realistic and interactive manner, even from the comfort of their own homes.