Dean Harrison P R E S I D E N T

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2 Dean Harrison P R E S I D E N T

3 A G E N D A o Introduction o Who are Millennials? o Misconceptions about Millennials o Communicating with Millennials o How apps are different from other forms of marketing o How we are reaching Millennials

4 I N T R O D U C T I O N o Who am I? o Changes in car industry marketing o Who is the next generation of car buyers and how do we make the transition? The next generation is Millennials. Who are they?

5 W HO ARE MILLENNIALS?

6 W HO ARE MILLENNIALS? o Basic facts about Millennials Millennials, defined as consumers aged 18 to 34 Make up 35 percent of loan originations in 2015 with their share will continue to grow Overall, millennials represent over 83.1 million American consumers, or more than a quarter of the nation s population

7 o Millennial preferences W HO ARE MILLENNIALS? Have a preference for leasing. Millennials are increasingly critical of their policies and insurance carriers Do not like to be advertised to Well educated but rarely in personal finance.

8 W HO ARE MILLENNIALS? o Leasing vs Buying They have a preference for leasing The preference for leasing seems to come from a desire to stay up-to-date with technology as well as an unwillingness to invest time and energy into "DIY" car and maintenance.

9 M I SCONCEPTIONS ABOUT MILLENNIALS o Millennials aren t buying more cars There are just more Millennials o Stats on car purchases by Millennials Millennials fastest growing group in auto purchases Student loans accounted for only a slight delay in auto purchase After that delay, behavior is similar to previous generations

10 COMMUNICATING WITH MILLENNIALS We used to sell cars via: NEWSPAPER TELEVISION HANDSHAKES

11 COMMUNICATING WITH MILLENNIALS Now we are selling cars via: INTERNET AUCTIONS

12 COMMUNICATING WITH MILLENNIALS

13 COMMUNICATING WITH MILLENNIALS What does this ad tell us? Are Millennials brand loyal? o Yes, but only if you re communicating with them in the way they want. o They are a me generation. o Easy and convenient. If we re not providing the ease and convenience they desire, we ll lose them.

14 COMMUNICATING WITH MILLENNIALS Facts about mobile marketing and Millennials 80% Texted in the past 24 hours Gen X 63%, Boomers 35% 83% Sleep with their mobile device Gen X 68%, Boomers 50% Use apps when they re easier to use than Web browsing, especially if they offer personalization Ages use the most apps per month, an average of 29 Ages 18 to 24 spend the most time on their phones, an average of 37 hours/month

15 COMMUNICATING WITH MILLENNIALS Facts about mobile marketing and Millennials Most comfortable with mobile apps and the whole online experience Used mobile phones during the car shopping process two-and-a-half times more frequently than did non- Millennials 35% of young buyers thought a lack of a mobile site hurt brands, while 59% said a poor mobile experience had the same effect A website is not enough Website experience satisfaction receives the lowest average score among all generations

16 COMMUNICATING WITH MILLENNIALS They re not reading newspapers. They re not getting your messages [SPAM]. They throw direct mail in the garbage. They re DVRing past your commercials. So what s left? TEXT MESSAGING PUSH NOTIFICATIONS

17 HOW APPS ARE DIFFERENT o Opt-in versus forced marketing o Real time versus delayed messaging o Measureable metrics versus throwing darts o Leverage mobile tendencies

18 TEXT VS PUSH W hat s the difference?

19 W HAT STO O D OUT TO US o Always on the phone o Prefers low-maintenance o Willing to pay for protection insurance o Wanting to stay current with technology o We don t want to get fined

20 HOW WE ARE REACHING MILLENIALS o My CarMobile o Must have value to consumer so they don t opt out o What happens to the vehicle protection program after purchase?

21 HOW WE ARE REACHING MILLENIALS o Repository for policy info o Quick access to claim service o Quick access to your dealership o Easy claims management

22 HOW WE ARE REACHING MILLENIALS o Building Brand Loyalty with programs o Building Brand Loyalty by giving them a place to store policy info o Building Brand Loyalty by pushing info. & messaging with offers

23 BY LEVERGING MOBILE TENDENCIES W E CAN: o Improve retention o Deliver marketing in real-time o Build brand loyalty

24 M YCAR M O BILE Demo MyCar Mobile

25 Q & A