Three consumer spending trends for the 2024 holiday season

What generation already has 68 million consumers, is set to be the largest generation ever, and $360 billion of disposable income? While you may think these attributes describe millennials, they are actually a portrait of Generation Z, better known as Gen Z, the newest generation that is emerging in the marketplace. Gen Z is beginning to make an impact worthy of focusing your next auto marketing campaign around.  Gen Z and the automotive market  Made up of consumers born after 1996, Gen Z is ready to be noticed and become a force to be reckoned with in the market. In the automotive market alone, Gen Z made up 3.8 percent of all new vehicle registrations in the first quarter of 2019. While that number may seem small, consider the fact that in 2015—just four years ago—they only made up 0.5 percent of new vehicle registrations. These are statistics that should make automotive marketers pay attention.  Digital consumption of Gen Z   Most marketers tend to lump Gen Z with millennials – after all, they grew up with smartphones and social media, so how different can they be than the generation that came of age with the Internet? However, unlike millennials, Gen Z is considered a true “digital generation” – performing many of life’s day-to-day activities online. This means that they do a lot of research when shopping for a product. In fact, according to the Center for Generational Kinetics, 52 percent of Gen Z has looked at online reviews for a product while shopping in-store.  But how do digitally native consumers impact automotive marketers? In order to sell cars, marketers’ messages need to be relevant. Like many other generations, Gen Z interacts with brands across a number of different devices and touchpoints. They’re constantly bombarded with messages and advertisements, so much so that it becomes information overload.  Auto marketing to Gen Z To create consistent messages that resonate, brands need to communicate across these different touchpoints and tell a story that is relevant to your audience. For example, you wouldn’t show an advertisement of someone buying their dream sports car to a member of Gen Z. Most of these consumers are buying their first car, so it would typically make more sense to show them ads for economical, reliable, sedans or cross-over SUVs.  Historically, automotive marketers have relied exclusively on CRM data, but this strategy isn’t effective when it comes to Gen Z, the fact of the matter is that they probably haven’t purchased a car from you previously.  Identity resolution and Gen Z auto marketing  The recipe for marketing success with Gen Z is identity resolution – combining your first-party identity signals across channels with third-party resources, as well as advanced technology, such as machine learning and artificial intelligence, to truly create and deliver campaigns that are relevant to the youngest generation. The more knowledge marketers have on your audience, such as demographics, life events and purchase behavior, enables them to tailor the messages to the audience in a way that will cut through the noise and resonate.  As more members of Gen Z come into the marketplace, automotive marketers will want to ensure they’re meeting them where they are, delivering messages that matter to them. This will help marketers not only sell more cars, but also begin to create relationships that could last for years to come.   Your identity resolution partner  Experian is here to help you create an identity resolution strategy that will take your automotive marketing campaigns to the next level. We help brands put real people at the center of their business by resolving fragmented identity signals. Deliver personalized, relevant messages across channels to effectively target your ideal customers. Get started with identity resolution today!

For as long as the ad buying process has existed, most brands and agencies have put an emphasis on the channel – meaning there were specific campaigns for direct mail, email, TV, social media, banner ads, etc. In fact, the teams responsible for these campaigns often work in silos. But with more people consuming information through multiple channels, it’s important for brands and agencies to put the customer at the center of the ad buying process – to develop and implement true omnichannel campaigns. I recently wrote a byline article for Broadcasting & Cable that explored the concept of the “PeopleFronts.” While the Upfronts and Newfronts have dominated the ad buying world, brands and agencies need place larger emphasis on the customer. At the end of the day, the right mindset can open the door for more powerful campaigns and relevant messages that resonate with the consumer.

As summer fades, marketers are gearing up for another campaign cycle. It’s a process that repeats itself annually, but we can’t just copy-and-paste our plans. With each passing year, the media landscape changes drastically, as do the behaviors of the audiences we are trying to reach. As ever, marketers have to be strategic—and nimble—to reach the right customers at the right time, with messaging central to seasonal events and personal preferences. Marketers can ensure their messaging reaches the right customers with audience optimization.  Reach target audiences this season  It can be a hassle to create custom audience segments and bespoke creative messaging every time the seasons change, but now, more than ever, we must ensure brand campaigns are as timely, relevant and personalized as possible. In a world of multitasking and multiscreening, there’s an expectation among consumers that all communications they receive are relevant to them—especially from brands.  This is why it’s critical to understand your audiences and how to engage them through the most effective channels.  To help marketers win the battle for consumer attention—and sales—4C developed the Scope platform. This self-serve software arms brands with powerful tools for managing audiences and optimizing campaigns across channels including TV and digital. So, whether it’s building an efficient media plan, buying targeted ads, or measuring business outcomes, audience optimization is truly in scope.  Deliver audience-based marketing messages across the TV and video space   Recently, 4C teamed up with Experian to expand our audience marketplace across linear TV, OTT and social media. Brands using the Scope by 4C™ platform can leverage Experian data across a variety of planning and buying use cases, including audience-based linear TV planning and programmatic scatter buying; OTT campaigns across FreeWheel, Telaria, and SpotX; and social advertising on Facebook, Twitter, and Pinterest.  Scope’s TV Planner allows marketers to combine historical cost and ad occurrence data with Experian audiences to create customized TV plans in minutes. The outputs go beyond GRPs to maximize in-target impressions for a secondary audience as well as indexing high against the primary demo. With audience-based TV planning brands can truly maximize their upfront buys and use the fantastic reach of linear television for seasonal performance marketing, not just brand awareness.  OTT harnesses the big-screen, living-room impact of TV with the targeting precision and flexibility of digital. By using Experian segments to create OTT audiences in Scope, brands can really focus on creative strategy, using the immersive power of video to drive specific business outcomes.  From a social perspective, we can combine the pinpoint targeting marketers have come to rely on from platforms like Facebook with advanced segmentation enabled by Experian. The output is high-performing audiences that can be reached at scale with dynamic creative to achieve unparalleled ROI.    Focus marketing strategies on audience optimization this season   Leveraging customized audiences across channels is the modern approach to marketing and has completely shifted the way marketers target consumers. With the relationship between 4C and Experian, there is now a better way for marketers to identify the most valuable potential customers, uncover the most appropriate messaging, and execute campaigns across the most engaging channels – during peak seasonal campaigns and every single day.  Get started and contact us today!