What can OEMs learn from the media? - sophus3 · It works because: The audience is understood ......
Transcript of What can OEMs learn from the media? - sophus3 · It works because: The audience is understood ......
What can OEMs learn from the media?Sophus3 Conference, 23 February 2017
Patrick Fuller
Agenda
Traditional car media
brands are changing
As the advertising model
matures, they are
embracing retail
Media companies are
ahead of the curve in
digital transformation
They use their content
experts for these new
audience experiences
43%conversion rate to
used car valuations
data wall
It works because:
The audience is understood
Relevance is guaranteed
The relationship is based on trust
But they are not alone
Typical consumer journey
Sophus3 research H1 2016
Drive
the
Deal
Parkers
Buya
Car
CarWow
Car
Keys
Auto
TraderHonest
John
What
Car?
Motoring
Broad
speed
AutoeBid
Add: new car services
Drive
the
Deal
Parkers
Buya
Car
CarWow
Car
Keys
Auto
TraderHonest
John
What
Car?
Motoring
Broad
speed
AutoeBid
Add: car disposal services
Wizzle
Dealer
Bid
Car
Buying
Group
WeBuy
AnyCar
CarKeys
Auto
Trader
Honest
John
Tootle
Motoring
Evans
Halshaw
We Want
Any Car
Drive
the
Deal
Parkers
Buya
Car
CarWow
Car
Keys
Auto
TraderHonest
John
What
Car?
Motoring
Broad
speed
AutoeBidWizzle
Dealer
Bid
Car
Buying
Group
WeBuy
AnyCar
CarKeys
Auto
Trader
Honest
John
Tootle
Motoring
Evans
Halshaw
We Want
Any Car
Car
spring
Carsift
RAC
Motors
Vcars
Confused
Gum
Tree
Car
Gurus
Auto
Trader
Piston
Heads
AA
Add: used car services
$1.8bn in early stage funding committed to automotive retail innovations
Crunchbase Trends 2016
And they’re going to keep coming
$1.8bn in early stage funding committed to automotive retail innovations
And they’re going to keep coming
100% online
Upfront pricing
Express checkout
Personal concierge
Crunchbase Trends 2016
Not to mention…
All good
But what about the poor customer
900 digital touchpoints
Source: Think With Google ‘The car buying process: one consumer’s 900 digital interactions’ March 2016
Source: Haymarket ‘Beyond the Funnel’ 2014
Funnel isn’t funnel shaped
Typical buying journey very inefficient
Sophus3 research H1 2016
Sophus3 research H1 2016
Only 0.08%
book test
drive
Often ending in frustration
book
Things have got to change
Autotrader.com (US) Car Buying Journey 2016
It’s all too much effort
11 hours spent on research (new and used)
26% claimed they had intended to buy a car in the last 6 months, but failed to do so
46% of those said research process was the biggest barrier
AutoTrader Market Report 2016
What can OEMs do to win?
What can OEMs do to win?
1) Beat the disruptors by optimising the digital showroom experience
What can OEMs do to win?
1) Beat the disruptors by optimising the digital showroom experience
2) Use media skills to transform customer engagement
Influence
Sell to
High valueLow value
Thought
leadershipCRMCommunity
Direct response
Product
placement
(Brand)
big idea
Story
telling
Influence
Sell to
High valueLow value
Thought
leadershipCRMCommunity
Direct response
Product
placement
(Brand)
big idea
Story
telling
Media skills
Thought
leadershipCRM
Community
Direct response Product
placement
(Brand)
big idea
Going beyond ‘content marketing’
Story
telling
Thought
leadershipCRM
Community
Direct response Product
placement
(Brand)
big idea
Story
telling
Marketing
Going beyond ‘content marketing’
Thought
leadershipCRM
Community
Direct response Product
placement
(Brand)
big idea
Story
telling
Marketing Content marketing
Going beyond ‘content marketing’
Thought
leadershipCRM
Community
Direct response Product
placement
(Brand)
big idea
Story
telling
Marketing
Going beyond ‘content marketing’
Content marketing ‘True’ media
Thought
leadershipCRM
Community
Direct response Product
placement
(Brand)
big idea
Story
telling
Going beyond ‘content marketing’
Awareness and selling
Thought
leadershipCRM
Community
Direct response Product
placement
(Brand)
big idea
Story
telling
Awareness and selling ‘Guided’ selling
Going beyond ‘content marketing’
What is guided selling?
The cosmetics industry
…the retail industry…
…the drinks industry…
…software…
…engineering…
…trains…
…even wallets
All fuelled by:
Listening to audience
Expertise in subject
User experience
But what truly makes it ‘media’
5 steps
1) Clarity of proposition
1) Clarity of proposition
2) Tone of voice (not just for customer, but also staff)
1) Clarity of proposition
2) Tone of voice (not just for customer, but also staff)
3) Small, quality-obsessed, team that is trusted
1) Clarity of proposition
2) Tone of voice (not just for customer, but also staff)
3) Small, quality-obsessed, team that is trusted
4) Freedom to innovate on the fly
1) Clarity of proposition
2) Tone of voice (not just for customer, but also staff)
3) Small, quality-obsessed, team that is trusted
4) Freedom to innovate on the fly
5) Drive to compete – not just with the scoop, but ideas
Next week… PistonHeads Motors?