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Marketing Lessons Every Entrepreneur Can Learn from the Auto Industry

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The automobile industry holds an interesting history, as the real first-ever automobile is quite subjective. Some date back to the 15th century, while others could trace it back to Karl Benz’s first automobile in the late 1880s.

Whether it is in the 15th century or the late 1880s, one thing’s for sure: the auto industry is doing something right. Fast forward to the 21st century; the auto industry remains to be bustling. The reason behind this is that automobile companies are great at marketing and increasing their value.

In fact, their strategies are not industry-specific at all. Every entrepreneur can learn from them and integrate them into their respective industries. Here are marketing lessons that everyone can learn from the auto industry:

1. Give Solutions

Before the Model T was ever created, Henry Ford knew that he wanted to build an automobile. However, simply knowing what he wanted to do wouldn’t have cut it. He needed to know if there was a market, what it wanted, and why it would want it.

So Henry Ford did a lot of research. The research involved the price he could sell the automobile for, its features, and his demographic. This allowed him to guarantee the success of Model T, and today, Ford is one of the biggest automobile brands!

2. Plan Everything Down to the Last Detail

Speaking of research, Toyota does the same thing today. The next time you hear the closing of a Toyota vehicle’s door, know that Toyota has measured that noise as well.

By inspecting everything, like putting a vehicle under a microscope, Toyota can ensure that every single valve or screw is in place. This is especially important for automobiles because people’s lives are on the line every time they get inside a car.

At the end of the day, it’s not the number of sales that drives a company to the top. It’s about continuous improvement in terms of quality should be a company’s focus.

3. Cultivate Respect Among People

With the heightened focus on quality, automobile companies emphasize the importance of respect. Employees, consumers, suppliers, executives, interns—everyone deserves respect.

Treating employees right leads to better performance at work. For example, Toyota extends deadlines for projects to ensure the quality of the product. This alleviates pressure from workers. On the other hand, Ford doubled the pay of its workers.

Leading the market means investing in people. Through this, the company culture strengthens by promoting teamwork, camaraderie, and the best engagement between the people behind the success.

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4. Don’t Hide Problems

Despite the intensive focus on quality, the auto industry is not immune to issues. Over the years, there have been manufacturing issues that affected the reputations of several companies. Nevertheless, companies have handled these experiences successfully.

Based on a few car companies, here are a few examples of how to handle problems:

  • Transparency. Toyota prefers not to hide problems from their consumers or to the entire team. The purpose of this is simple: visualization. Once a problem is within the knowledge of the team, they can immediately work towards solving it.
  • Break it down into smaller problems. Sometimes, a major problem is the sum of its parts. When faced with a big problem, Ford’s philosophy is to identify the smaller problems. This way, they can think of solutions that will eventually solve the issue.
  • Investigate and offer the next steps. When Mitsubishi had an acceleration problem, the company released a statement that offered a free checkup. They also reassured users that the company is investigating the problem. By doing this, the company actively seeks solutions while reassuring consumers that the car is safe.

5. Offer a Little of Something for Everyone

Car enthusiasts say that the kind of car a person chooses says a lot about their personality. Car colors are considered stylish for a much longer time than fashion trends. Therefore, they involve a lot of customization, investment, and care. For some, a good auto ceramic coating is the best option to preserve these colors over the years.

The auto industry appeals to the needs–and wants–of every consumer. They have affordable cars and luxury lines. They experiment on car colors that get as unique as they can be. Having a wide range of options allows consumers to express themselves. It also gives them a space to expand their horizons or to fulfill their goals.

The Auto Industry Is Rich with Business Lessons

These marketing strategies are for every industry. Much like auto companies, it’s the execution that matters. So, entrepreneurs can reflect on these strategies and apply them to their respective products and services.

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