Last updated on Feb 25, 2024
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Know your audience
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Highlight the benefits
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Offer flexible options
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Use social media
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Create a memorable experience
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Here’s what else to consider
Luxury cars are not just for the rich and old anymore. More and more young buyers are looking for premium vehicles that offer style, performance, and technology. But how can you sell luxury cars to a younger demographic that is often more price-conscious, environmentally aware, and digitally savvy? Here are some tips to help you connect with this growing market and close more deals.
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- Kevin P. Harvey, MBA Sales Operation, Business Development, CX Professional with 15+ years business acumen ►Program Management ► Sales…
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- Madhu Sudan Acharya target oriented person, live for ethical work, passionate to build my career and the company i have been working for…
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1 Know your audience
The first step to selling luxury cars to a younger demographic is to understand their needs, preferences, and motivations. Young buyers are not a hom*ogeneous group, but they tend to value experiences over possessions, social responsibility over status, and personalization over standardization. They also do a lot of research online before visiting a dealership, so they expect you to be knowledgeable, transparent, and respectful. To earn their trust and loyalty, you need to show them how your luxury cars can enhance their lifestyle, align with their values, and reflect their identity.
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- Kevin P. Harvey, MBA Sales Operation, Business Development, CX Professional with 15+ years business acumen ►Program Management ► Sales Enablement ► Terry College of Business ► Thought Partner ► Golfer ► Pit Master ► I Move the Needle
A luxury car brand, has a perfect opportunity to craft a truly exceptional and personal customer experience (CX) that elevates its brand image and fosters loyalty. As it pertains to a younger buyer, there are nuisances to their consumer and shopping behavior that need to be considered. Their beliefs, and in general beliefs, drive product engagement. If consumers lack excitement about a product or perceive a violation of ethical standards, it may lead to decreased engagement. Aligning a product with consumer values and maintaining a positive perception are crucial for sustained engagement. I believe this is true with consumers in GEN Z and Millennial categories.
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- Aleksandra Lesneva Marketing Manager | Ex-Volvo Trucks, Ex-Cummins, Ex-Hyundai
In the early beginning, it's essential to understand their values, preferences, and lifestyles. As we know, sustainability, transparency, and public responsibility are crucial for a younger demographic. Highlight advanced green technologies within the cars, such as energy-efficient systems, recycled materials, or solar-powered accessories.Communicate the brand's commitment to ethical and environmentally friendly practices. And follow them. Engage in environmental and community projects. Demonstrate a commitment to making a positive impact beyond the product itself.
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2 Highlight the benefits
Young buyers are not impressed by technical specifications or flashy features alone. They want to know how your luxury cars can benefit them in terms of comfort, safety, convenience, and entertainment. For example, you can emphasize how your luxury cars have advanced driver assistance systems that can reduce stress and prevent accidents, how they have spacious and ergonomic interiors that can make long trips more enjoyable, how they have smart connectivity and infotainment options that can keep them connected and entertained, and how they have customizable and eco-friendly features that can suit their tastes and reduce their environmental impact.
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When discussing new vehicles, younger buyers are more inclined towards the cosmetic style of the vehicle opposed to how the age old features and benefits of how, what and when. Processes need to slow down in order that the buyer can engage, acknowledge and understand what the vehicle will do. Always reiterate and make sure that your actions and words make sense. Always remember to keep your notes to follow up to ensure that deadlines are met and also ensure that the communication between all parties is clear and consistent. Don’t cut corners, don’t assume, don’t just tell them what they want to hear and finally share information and instructions clearly.
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- Radu Florescu
With young buyers I think the car need to follow the field of interest of their customers.Added value of the new onboard technologies (safety, connectivity, autonomous driving systems) are more likely to be a buying criteria.
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- Madhu Sudan Acharya target oriented person, live for ethical work, passionate to build my career and the company i have been working for, love what i do, do what I love, simple mantras of being happy and successful.
Highlight the benefits of luxury cars that resonate with a younger demographic. Emphasize advanced safety features, cutting-edge technology, and sleek design. Showcase eco-friendly options and fuel efficiency to align with environmental consciousness. Highlight the unique driving experiences and performance capabilities. Offer customization options to cater to individual style preferences. Position the luxury car as a symbol of success and achievement, appealing to their aspirations. Provide flexible ownership options and emphasize the long-term value of the investment.
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3 Offer flexible options
Young buyers are often more budget-conscious and less committed than older buyers. They may not be able to afford or want to own a luxury car for a long time. That's why you need to offer flexible options that can accommodate their financial and lifestyle needs. For example, you can offer leasing or subscription plans that can lower their monthly payments and allow them to switch cars more frequently, you can offer trade-in or buy-back programs that can help them upgrade or downgrade their cars as needed, or you can offer maintenance and warranty packages that can reduce their ownership costs and hassles.
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- Sabrina Levinton Market Making | CX | Inovação | Design Thinking | Produto e Design-Driven | Docente | Coolhunter
As opções flexíveis precisam ser derivadas do desenho de modelo de negócio proposto. Se faz necessário compreender primeiro qual valor ou qual o significado para esse público o produto tem (no caso o carro) e para isso pode ser utilizada a ferramenta de Design Driven. O modelo de negócio precisa contemplar outras formas de "posse" o que se relaciona com um dos tópicos abaixo que é a experiência memorável. É preciso considerar o antes, durante e depois dessa "posse" para cada uma das opções que for definida a partir do modelo de negócio. Quanto mais inovador o modelo, mais aderente às demandas e ao público.
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- Aitor Orduña Simon BMW/MINI Barcelona Premium
Siempre a tener muy en cuenta, las personas jóvenes no tienen el sentido de la propiedad como la tenían nuestros padres o abuelos, es el momento del precio por servicio, tenemos que tener unas muy buenas condiciones en nuestro sector de vehículos de lujo para que el cambio se produzca o genere cada poco tiempo. Para que así un mayor grupo demográfico pueda disfrutar de nuestras experiencias.
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4 Use social media
Young buyers are very active and influential on social media platforms. They use them to get information, opinions, and recommendations from their peers, influencers, and experts. They also use them to share their own experiences, reviews, and feedback with others. That's why you need to use social media to reach out to them, engage them, and persuade them. For example, you can use social media to showcase your luxury cars with appealing photos, videos, and stories, to answer their questions and address their concerns, to solicit their input and feedback, and to encourage them to share their positive experiences and referrals with their networks.
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Il semble que les jeunes acheteurs sont très actifs et influents sur les plateformes de médias sociaux. Ils les utilisent pour obtenir des informations, des opinions et des recommandations de leurs pairs, d’influenceurs et d’experts. Ils les utilisent également pour partager leurs propres expériences, avis et commentaires avec d’autres.
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- Leonardo Balderas Caballero Financiero con visión estratégica y optimización de recursos, Gerente Comercial experto en ventas y relaciones públicas, México, C.A. y Caribe (especialista en prospección, negociación y cierre de ventas)
Hoy en día las redes sociales juegan un papel muy importante en la sociedad, siendo los jóvenes los más activos en las mismas, y con grandes aspiraciones… sin duda alguna este tipo de vehículos tendrán gran difusión y su demanda se incrementaría al ser un artículo que para ellos los haría diferentes a los demás, buscando nuevas experiencias.
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5 Create a memorable experience
Young buyers are not just looking for a product, they are looking for an experience. They want to feel valued, appreciated, and delighted by every interaction they have with you and your dealership. They want to feel that you care about them as individuals, not as numbers. That's why you need to create a memorable experience that can make them feel special, satisfied, and loyal. For example, you can create a memorable experience by greeting them warmly and personally, by listening to their needs and wants, by giving them a test drive that showcases the best features of your luxury cars, by following up with them after the sale, and by rewarding them with perks, discounts, or gifts.
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- Oliver Menebhi Specialist in delivering efficient automotive operations, network development, performance, leadership and strategic growth
Younger generation consumers react positively to easy and efficient customer service.A concierge style approach that reduces there effort but maximises there user experience and ensures a trusted buying decision can be made.Expectations on product knowledge and demonstration are usually higher and a polished and informative sales journey often lead to a positive buying decision.
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Il me semble avoir remarqué que les jeunes acheteurs ne sont pas seulement à la recherche d’un produit, ils sont en fait et surtout à la recherche d’une expérience. Ils veulent se sentir valorisés, appréciés et ravis de chaque interaction qu’ils ont avec vous et votre concessionnaire Automobile.
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6 Here’s what else to consider
This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?
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- Elijah Odusile Open to opportunities
Selling luxury cars to a younger demographic requires a strategic approach that resonates with their values, lifestyle preferences, and financial capabilities.Technology and Innovation: Younger buyers are often tech-savvy and appreciate the latest advancements.Leverage Social Media and Influencers: Use platforms popular among younger audiences, like Instagram, TikTok, and YouTube to showcase the luxury cars.Highlight Sustainability: Many younger consumers are concerned about environmental issues. Let them know all sustainable aspects of the luxury cars, such as fuel efficiency, eco-friendly materialsDevelop a Strong Brand Narrative: Younger audiences often seek brands with authentic stories and values that align with their own.
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- Alexandre Machado Pereira Consultor de vendas| Vendedor de Automóveis Premium| Relacionamento Interpessoal| Técnicas de Vendas| Matemática Financeira|
Os jovens de hoje são muito mais rápidos na busca da informação. Então conhecer o seu produto e os seus concorrentes é mais do que fundamental pois os jovens clientes sabem muito mais do que você.
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