The buying cycle – the NEW battleground

Are you paying attention to the changes in the buying cycle?

There was the old way in the automotive purchaser’s journey. The most common consumption buying cycle, (the process that consumers go through when making a decision to purchase a new vehicle), had four main stages to this process: research, selection, test drive, and purchase.

1. In the research stage, consumers typically spend months reading reviews and comparing models. Once they have narrowed down their options, they move on to the selection stage. Now during this stage is when a dealership can gain the most information….without having met the buyer. All this is depending on their digital experience provider and the platform they are utilizing online to inform potential buyers.
2. Next is the selection stage, where they choose the specific make and model of car that they want to buy.
3. After selection comes the test drive, in which consumers attend the dealership, take the car for a spin to see if it meets their expectations, see what their trade in is worth and gain decision making information.
4. Finally, if everything checks out, they will make the purchase. For many people, the automotive consumption buying cycle is a lengthy and detailed process. But at the end of it all, they hopefully come away with a new car that they love and will enjoy driving for years to come.

The reality is that this is NOT the way we are heading, and with supply interruptions, it would appear that has changed this from a buyers market to a sellers market. But in reality, it has changed to the “experience to share” market. Just as you see in the RealEstate industry, the supply is commanding the direction of the market, and now the coming of age, savvy consumer has a completely different buying cycle, built on years of only digital direction. On fans, on likes, on influencers. These buyers, have had so many “disposable” products at their fingertips, the cycle of the sale is one of consumption.

Let that sink in a minute.

in most cases shoppers are losing the emotional connection in the sale, to the “arrival” of their purchases, at the office at their homes, and these are shared experiences. With their neighbors and their peers. This is the NEW battleground, you can sense it.