The National Automobile Dealers Association unveiled a completely new analytical tool in 2020, which is currently available to a selected group. This platform provides the members with the ability to navigate, observe, and compare a myriad of reports that assess data from multiple sources (“New NADA Analytics unveils for 20 Group Members”, 2020). The sources can be broad tools like Google Analytics or Facebook, or industry-oriented third parties such as Cox Automotive. This tool has an advantage by being an in-depth knowledge of the market and industry-specific focus. This tool would be used to discover companies where millennials are more likely to purchase automobiles.
Nielsen offers a number of methods by which they investigate their consumer databases. These include advanced video advertising, local TV-oriented measurements, broader national TV measurements, out-of-home, SVOD, and VOd ratings (“Nielsen Advanced Audience”, 2021). Although all these strategies seem broad, the analytics within Nielsen also prioritize advanced audience targeting in their campaigns or programs. As such, it would be possible to direct auto dealership promotions to platforms that millennials use more frequently. The advanced buyer tactic provides a more calculated method of isolating customers. The tool does not simply group by gender and age but focuses on consumer behavior in relation to other factors. The tools offered are able to target potential car buyers more easily. This tool would be implemented in discovering the best platforms to reach millennial audiences in regard to purchasing cars.
ComScore offers methods of navigating the excessively complex and vast area of media in the current day in order to connect with the desired audience and improve growth. This kind of procedure is especially important when analyzing the needs of millennial customers who consume a majority of their advertising from multiple platforms and websites (“ComScore”, 2021). ComScore’s primary goal is to precisely measure the target audience in an ever-changing cross-platform system of media. As such, this analytical tool would be best equipped to discover the interaction between millennial car buyers and the media they consume. This would assist in building the most practical marketing plan with regard to the platform, scheduling, and customer needs.
References
ComScore About. (2021). Web.
New NADA Analytics unveils for 20 Group Members. (2020). Web.
Nielsen Advanced Audience. (2021). Web.