Purchase Behavior is Key
J.D. Power and Associates published a white paper in April about “The Death of Demographics: Why Targeting by Purchase Behavior is Most Effective in Automotive Marketing.” This comes as no surprise to those within the digital marketing field, because the onset of so much new technology has shifted the way marketing power is focused.
Looking at demographics such as gender, age, and income are no longer enough for informing on the best marketing and advertizing practices. We need data on the consumer lifecycle. We need to be able to look at and measure the consumer’s buying behavior to predict how and when they are going to buy in the future.
“Demographics, more so than many other tools, has proven to be a much less effective tool in the automotive space, particularly with regard to new-vehicle buyers. The most popular models overall are typically the most popular regardless of the particular demographic.”