The latest supply market intelligence study by SpendEdge on digital marketing helps companies in the automotive industry identify cost-saving opportunities and primary cost components in digital marketing and advertising.
Digital marketing in the automotive sector
The extensive use of the internet and wireless media to promote products and services across industries is creating a market for digital marketing. Leading automotive suppliers are investing in the development of the effective digital marketing strategies to expand their business and market share. Advertising on digital platforms including online, electronic, and digital platforms accelerates the rate at which vendors can access a larger customer base and increase their visibility. These platforms are competitive advertising channels as it offers cost-effectiveness and flexibility to the suppliers. Online advertising and branding are transforming the automotive industry, suppliers understand the customer behavior and assimilate their target audience through these online portals. The websites or social media platforms are used by vendors to announce the launch of new product lines and create a curiosity amongst its customers. Moreover, suppliers are also using content marketing to increase the product options for the customer and help them select the best vehicle that matches their requirements and specifications.
SpendEdge’s supply market assessment on digital marketing for the automotive industry provides detailed understanding of the supplier engagement models, supplier performance evaluation criteria, supplier relationship management, and price negotiation strategies. The study also offers comprehensive information on the regional and global supply market landscape and the standard cost structure. The manufacturers are focusing on building a strong social media presence to evaluate the level of competition and understand the needs of the customers. Discussion boards on Facebook, Twitter, Pinterest, and LinkedIn can be utilized to create a better brand image and increase their popularity in the market.
Personalizing ad campaigns
Automotive suppliers are personalizing the digital experience for their existing and target customers. The manufacturers are integrating social network newsfeeds with the advertisements of products that they viewed and showed interest in. This way, the suppliers can personalize the advertisement that matches the requirements of the customer. Some of the companies are sending email offers and discount coupons that are designed specifically for a particular customer. Evaluating customer data from social networking sites will help companies to streamline and design more intuitive marketing and advertisement campaigns.
Solutions SpendEdge offer to businesses
The supply market intelligence study on digital marketing for automotive companies analyzes data from industry blogs, reports, and journals and provides a deep-dive assessment of the supply market for the digital marketing domain. The solutions offered includes:
- Provide overview of the pricing models, supplier relationship management, and service level agreements to help shortlist suppliers
- Offer strategies to result in efficient supplier relationship management and improve contractual terms
- Deliver insights on price negotiation strategies to ease the overall process of selecting and evaluating suppliers
- Offer insights into the supplier cost breakup and suppliers’ performance evaluation criteria
Read our complete case study titled – SpendEdge’s Supply Market Intelligence Helps a Leading Automotive Company
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