Friday, October 15, 2010

Future Shock – Our Evolving Digital Customers

Our digital customers exhibit the following behaviors:

  1. They are young and rely on the internet to research service choices.
  2. They are not as dealer-centric as middle aged and older customers.
  3. They’re cynical and are suspicious of perceived upselling.
  4. They are loyal only to the best, and their mothers.
  5. They will go online to tell friends, acquaintances and strangers about a bad experience.
  6. They drive older vehicles now, but will be buying and driving newer vehicles as they age.
  7. They don’t turn wrenches and, therefore, aren’t as knowledgeable about how their vehicle works and which parts and services are necessary.
And our digital customers are particular about information:
  1. They have higher standards for credible information.
  2. They associate credibility with transparency and independence.
  3. They associate credibility with quality, but will tolerate low quality if nothing better is available. This is especially true if they are first adopters.
  4. They are difficult to satisfy, but will flock to the best imperfect alternative that is available.
  5. They are connected to everybody else and like it that way.
  6. They migrate to newer and better ways of being connected.
Bottom Line: Our whole customer base will exhibit these behaviors within ten years.

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