Almost two thirds (63%) of prospective car buyers are more likely to remain in contact with automotive retailers that keep in touch with stock alerts, according to new data from Marketing Delivery.
Franchised retailers using Marketing Delivery’s Stock Alerts solution found that, during the first three quarters of 2024, 8.5% of sales prospects that didn’t initially make a purchase but were subsequently sent email notifications about relevant new-in stock or price changes went on to buy from that retailer.
These same email messages had an average open rate of 57% and a click-through rate of 19%.
Customers expect retailers to reach out
The Marketing Delivery survey also points to a clear expectation that retailers will communicate with customers even when a sale cannot be concluded, with 53% agreeing with the statement: “I would still expect to receive helpful communications from a dealership should my initial enquiry not result in a sale.”
Unsurprisingly, those car buyers who use popular social channels – including Instagram, X (formerly Twitter) and TikTok – are most likely to be receptive to emails about stock updates.
“This is a particularly important time of year to ensure a strategy is in place for digital follow-ups,” said Charlotte Murray, commercial director at Marketing Delivery (pictured left).
“Retailers will be prioritising the influx of part-ex vehicles following the plate-change month, and proactive qualification and prompt interaction with prospects will help facilitate rapid speed to sale and maximum profit.
“This type of outreach shouldn’t just be about available stock,” added Murray.
“Our survey found that 64% of car owners would welcome communications about recent launches and offers when they’re approaching the end of their finance agreements.
“Only 21% didn’t want to receive these updates. Our renewal emails see strong open rates, averaging 66%, and we can attribute over 4,500 thousand orders so far in 2024 from customers who have received an anniversary message prompting them to value their current vehicle.”
Benchmark your omnichannel marketing success at Automotive Management Live
Motor retailers can benchmark their approach to omnichannel marketing success with guidance from 14-site Ancaster Group and Marketing Delivery at this year’s Automotive Management Live.
AM100 dealer group Ancaster’s head of marketing Carly Keeler-Clappison will be joined by Charlotte Murray, Marketing Delivery’s commercial director, as well as the digital marketing specialist’s chief executive Jeremy Evans.
Attendance to Automotive Management Live is free of charge for dealers and OEMs who register in advance.