Marketing Strategies adopted by Electric Vehicle Manufacturers
Published date: 29/01/2022
Because electric cars (EVs) have traditionally been considered a niche product, many OEMs have focused their go-to-market (GTM) strategies on a tiny, tech-savvy section of the automotive market. The pandemic of COVID-19 has had a huge influence on the entire automobile sector in various regions of the world. China's electric vehicle market is driven by regulations and customer incentives, with the central government extending purchase discounts for another two years in March 2020. Regulators and industry stakeholders in Europe are leaning toward incentives that favor clean powertrains. From 2020 to 2021, EU member states are projected to maintain the 95-gram CO2 fleet-emission target, albeit this will have an impact on the number of vehicles sold.
Effective Communication-
EVs do not meet all mobility needs, but they do meet the majority of them. EVs are significantly cheaper to operate than an IC (internal combustion) car in frequent urban journeys under 100 km between charging outlets, more comfortable to drive, and less polluted. Because torque is accessible at low revs and there is no clutch or gearbox, an electric motor provides a more "zen" drive in urban circuits. When driving an electric automobile, using energy regeneration allows you to accelerate and (almost) halt the vehicle with just one pedal. These and other significant benefits of electric vehicles must be discussed and shown at every opportunity by manufacturers. To reach and educate potential EV buyers, OEMs should use new and personalized tactics, such as digital ads. To reach scale fast and build a network of EVs for each OEM brand, it will be vital to focus on areas and customer categories that are actively exploring EVs.
Non-selling approach-
Commercial pressure as well as a compelling and thorough explanation do not mix. EVs must be sold in a non-selling manner. It's tough for salespeople in traditional car dealerships to use this method consistently because they're used to commercial push (incentives, promotions). Given the low levels of product competition in this market area, for instance, BMW i's agency retail strategy with "Product Genius" appears to be a strong alternative for EVs.
Social Media Marketing-
When it comes to EV marketing, client education is a top responsibility. To get in front of a target audience quickly, Ric Dean, CEO of Caffeinated, recommends using social media platforms to better outreach. To engage their audience, EV marketers can utilise text, videos, and graphics. Rather from focusing solely on brand material, marketers can create relevant videos that describe the product. They can also take movies and publish them to social media networks while driving these automobiles on well-known roads. Your target audience will trust your brand as a result of such authentic and expert social media marketing.
OEMs should spend heavily in their digital presence in order to provide quick access to information regarding essential consumer problems; for example, OEMs may include conversations on their websites about customers' top EV pain points. They might also lessen the complexity and risk of a purchase by offering simple, worry-free configuration and ownership choices, such as subscription models with on-demand capabilities that allow for even more personalisation.
More emphasis on novelty-
All vehicles, whether gas or electric, have a unique driving experience and feature set. They are, however, fairly comparable, and most users don't perceive much of a difference between them, even after switching cars. Electric vehicles are a breath of fresh air. They provide a one-of-a-kind driving experience, as well as novel feelings. While all innovations have drawbacks, novelty may be a powerful selling point.