Once thought of as the preferred mode of transportation for middle-aged hippies and eco-conscious celebrities, electric vehicles have officially gone from niche to mainstream and are one of the fastest growing segments of the automobile market. If you’re an automotive marketer, that spells opportunity with a capital EV!
There are reasons for the projected surge in popularity. For one, the technology of EVs continues to get better. Battery energy and capacity is increasing at the same time that battery costs are decreasing. Public charging stations are now widely available. Plus, despite some rollbacks in vehicle emissions standards in the U.S., global policy trends are overwhelmingly headed towards reducing greenhouse gases and fossil fuel consumption.
Not only is EV technology getting better, but the selection of EV models is getting better as well. Many automakers are focusing on moving their EV offerings to heavier vehicle segments such as vans, buses and medium- to heavy-duty trucks. Projections from all major automakers add up to 500 different EV models available globally by 2022.
Currently it’s estimated that the number of EVs to be sold in 2020 is around 1.7 million. That number is estimated to jump almost 36% to surpass 3 million vehicles in 2021. The prediction for 2025 rises to 8.5 million! BloombergNEF recently put out research that shows the EV share of all new car sales will reach 10% by 2025, 28% by 2030 and 58% by 2040.
Who’s Buying EVs?
So, who are these prospective EV buyers and how can you connect with them? It all comes down to having the right data, and at Infocore, we always connect you with the right data. Not only can we access records on potential EV consumers, but we can segment those records based on a customized combination of selects, which gives you the granular data you need to reach prospective EV buyers.
For example, let’s say you want to have information on eco-conscious consumers that are in the market for an EV. Of those consumers, you’d like to have records for those ages 25 to 60 who have a household income of $125,000 or more. And, you’d like to know how many of those consumers are looking to buy a new car in the next six months. The number of consumer records available to you for those selects? Over 4 million!
Want to get more specific? Maybe you want to look for golf enthusiasts, age 45 to 60 with an income of $125,000 or more that fall into the top tier of consumers who have a green household footprint. Let’s take it further and target consumers within that tier who are specifically looking to buy a Toyota Prius in the next six months. The records available to you for those super specific selects? Approximately 51,000!
Data + Message + Timing = Conversion
Some of the consumer categories that we’ve identified to be of interest in this market include self-reported EV intenders, those who follow an eco-conscious lifestyle, solar power home owners, those who live in states with EV incentives, those who are tech savvy or early adopters, current EV owners and frugal travelers. We can then overlay those categories with more specific selects, such as demographics, buying behaviors, interests, social awareness activities, leisure activities, parents with children, expecting parents or new movers.
The beauty of having the right data is that in addition to finding the buyers most likely to buy, you are able to connect with them using highly targeted messaging. When you target the right customer with the right message at the right time, that’s when the magic of conversion happens.
If you’re an automotive marketer looking to tap into the surging EV market, contact us for a free consultation – we absolutely love to talk about this stuff!