The automotive industry has made huge strides over the past decade. This growth can be attributed to multiple factors, including the technological innovations, the emergence of autonomous vehicles, the ever-so-popular ride-sharing platforms, and new businesses such as Tesla, who has made the retail process more seamless. All of the reasons that they have prospered are the exact reasons why all businesses would prosper. These concepts are not exclusive to the auto industry, but let's use them as an example.
Despite the increasing pace in the world of cars, vehicle sales are actually slowing down. This deceleration is rather understandable. It probably surprises nobody that drivers are now holding on to their cars for an average of 6.5 years, which is a big difference than the 4.3 years from ten years ago.1 This means that the opportunity to sell a vehicle comes around less often. Another fact that affects sales is that people tend to visit the showroom much less now, as they do much of their research online. Cases in point:
Nobody could ever argue the fact that consumers of today are obsessed with research. As an example, the search for "best" has increased by more than 80% over the last two years! In addition, 51% of all digital ad budgets in 2016 were spent on mobile. Inbound marketers have been following the increase in mobile marketing for years. But, in light of how ingrained mobile devices now are in our lives (as both consumers and professionals), and the fact that we can now specifically target individuals who are more likely to make a purchase, using a programmatic platform, it really is no longer a "trend," but more of a "staple."Continue Reading
Genius Monkey has experienced a stellar 2017. That's wonderful, but 2018 is shaping up to be an even greater one! To gain a better insight into what transpired last year for this ever-growing digital programmatic tech company, let's take a look back at some of the top blog posts of 2017:
Profits Over Campaign Metrics
Over the past decade, the marketing industry has experienced a paradigm shift when it comes to mobile. Potential customers can now move easily from channel to channel — device to device — mobile to desktop — offline, back to online. The traditional methods of measurement have become antiquated, and facing this "new norm" is inevitable if a marketer wants to be successful.Continue Reading
One of the many ways to help your potential customers realize your value is for them to read the online digital reviews that provide peer-to-peer recommendations. This is evidenced by the fact that 84% of people trust online reviews just as much as they trust personal recommendations. Also, 90% of customers will form an opinion of a business after reading less than 10 reviews, and 74% of consumers have indicated that positive reviews have a great impact on the trust they have in a local business. Lastly, more than half (58%) of consumers say that the most important aspect of a business is the number of stars they earn with their ratings. In 2017, 32% of consumers checked the local reviews on mobile apps, which is a growth of 14% from 2016.Continue Reading