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Charge Up Your Strategy for EVs

Strategies for a Mature EV Market

on May 17, 2022
If you are in an existing, mature EV Market there are two paths for your dealership.

The first step is to assess your inventory levels. 

  • Do you have strong inventory levels or a strong pre-order or custom order infrastructure? 
  • Do you have little or no inventory?  

If you have inventory, get aggressive and attack the market. If you don’t have inventory, intercept EV shoppers. 

Attack the Market
Competition in a Mature EV Market

EV shoppers are younger, savvier, and more affluent than the average buyer. They consider more brands and use more sources during their car buying journey. This demographic is ripe with opportunity and there are numerous ways for your dealership to get in front of them. 

Paid Search

You want to get in front of active searches and present your dealership as a viable option. Capture the demand that already exists before branching out to other sources.

We suggest you run the following types of campaigns:  

  • On Brand – These represent any EV/Hybrid search and your brand 
    • Example: Hyundai Hybrids, Hyundai Ioniq, Hyundai Tuscon Hybrid, etc.  
  • Segment – Most consumers only know Tesla and one or two other brands. Get in front of consumers with your name and inventory. 
    • Example: Electric Cars, Hybrid SUVs, Plug-In Hybrids For Sale 
  • Conquest – Consumers aren’t familiar with the wide variety of electrified options out there, piggyback on more popular brands and position your dealership to steal clicks away from competition. 
    • Example: For a Hyundai Dealer – Kia EV6, Toyota Rav4 Hybrid, Nissan Leaf 
  • Google Vehicle Ads – Prominently display your electrified inventory and take up precious real estate at the top of the search results page 
VDPConnect for Lead Generation Ads 

If you have inventory, showcasing it on Facebook is a great move for several reasons: 

  • It is inexpensive (cost per click can be as low as $0.30 or $0.40) 
  • It reaches consumers where they are 
  • You can layer highly detailed targeting info and reach your exact consumer 
  • You can create unique audiences based on your dealership 

Push your EV inventory to Facebook and allow consumers to reach out to you without ever leaving the app. 

 Real Results: 

  • -13% reduction in Cost Per Lead 
  • +20% increase in CTR 
  • -88% reduction in cost per vehicle view 

 Get more eyes on your inventory. Get more true leads with instant form fills. 

Video For Action

This is contingent upon having a great video for your electrified solutions or even just a video highlighting someone should buy an EV in the first place. If you have the assets, this is a great option to get in front of consumers. 

This isn’t the YouTube campaigns of old. This is your chance to set your objective – clicks, inventory views, leads, etc. and let YouTube go to work for you. It gets your ad in front of the right shopper at the right time. 

Targeting is like Discovery and can be as customized as you want. Add the same audiences to your PPC campaigns and watch your performance improve in both places over time. 

Real Results*: 

  • +85% clicks 
  • +147% increase in Leads 

* when running Video for Action compared to regular YouTube 

Intercept EV Shoppers
Interception in a Mature EV Market

Even in a mature EV market, shoppers consider more brands than the average car shopper (2x more) and they are still buying mostly gas vehicles, so you have plenty of chances to still win them to your dealership. 

Paid Search
  • Conquest top models in your market and call out favorable comparisons in your ad copy.
    • Example:
      • Explore The New Hyundai Tucson | 33 MPG HWY 
      • Lower Cost Of Ownership Than The Ford Escape Hybrid  
  • Target segment terms and offer fuel efficient alternatives 
    • Example: For Hybrid Car search
      • Get up to 54 MPG highway on our sedans and up to 35 MPG highway on our SUVS 
Display, Social & Video

Take advantage of the wealth of knowledge that exists about EV owners and shoppers by utilizing intent and data-based triggers. Target consumers who are shopping your competition, competitive brands, and are actively researching alongside consumers who have expiring leases, own competing brands, and match the demographic of an EV buyer. 

Amazon Display

Amazon is the 4th most visited site in the US (behind Google, YouTube, and Facebook). Use the advantage of Amazon’s popularity and amount of data available to reach consumers on exclusive Amazon owned and run properties.  

The targeting capabilities include Amazon’s proprietary data and a host of 3rd party options like Edmunds, Polk, IHS, etc. all built into the cost. 

Amazon display allows you to reach more than 90% of Amazon users with 30% more accuracy than by IP address alone.  

Amazon OTT

Amazon’s OTT allows you to unleash the power of Amazon and reach hard to find streamers. Streaming is very convoluted, and Amazon allows you to cut through the noise and reach car buyers.  

Highlights of Amazon OTT: 

  • Reach of 120M monthly OTT users 
  • $0.03 Cost Per View 
  • $38.48 Cost Per Website Visit 
  • Access to Amazon’s proprietary data 
  • Access to Amazon’s exclusive apps 
Facebook Ads

If you don’t have inventory or want to go broader and target competitive brands then Facebook offers a number of ways to intercept competitive shoppers. 

Targeting: We recommend using a combination of Facebook’s proprietary audiences and third-party data sources to reach your desired buyer. 

Messaging: Focus on why a consumer should choose your EV option and dealership. 

Ad Type: Use carousel ads to highlight features of the car, unique offerings to your dealership, and any other information to sway a consumer. 

The goal is to drive traffic to your site and start retargeting across all digital mediums. 

Google Discovery Leads Ads

Target EV shoppers in all phases of research based on their active researching activity.

Target based on: 

  • Demographic data 
  • Interest in competitive brands (including Tesla) 
  • Interest in nearby dealers 
  • Shoppers actively researching EVs 
  • Or even go broad and target all in market shoppers. 
  • Get creative! This is a great chance to get your message out in a cheap and efficient way. 

Messaging: Whether trying to generate pre-order interest or move cars today, adding a lead ad to the ad will allow you to gather consumer information and start the conversation on EVs 

Real Results: 470% increase in clicks and a CPL of just $17 for a dealer using Discovery ads compared to Google Display Network 

 EV shoppers represent a unique opportunity for dealers to reach and influences shoppers. They are more open minded and research more sources than the average car buyer which means they are more receptive to learning about new brands, models, dealerships, and features of cars.  

Regardless of your inventory these are buyers you need to get in front of.  
  • You can showcase your EVs, high MPG models, or your top trim lines.  
  • Over 50% still buying gas cars so you could be missing these shoppers.
  • EVs are part of the buying cycle and their presence will only grow.  

Be on the cutting edge and beat your competition.

It’s the cheapest it ever will be to reach these buyers, don’t wait too long to implement these strategies. 

EV Marketing Checklist

Strategies for a Mature EV Market

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