Tuesday, November 10, 2009

What can we learn from Hyundai?

Yesterday Advertising Age Magazine announced Hyundai as the Marketer of the Year. The automotive company beat out the likes of Wal-Mart, McDonald's & LEGO for the 2009 award. If you haven't checked out the article on/in Advertising Age (Same article can be found on Automotive News), definitely take the time to read how Hyundai turned the current economic situation into a moment of redefinition and increased market share. This year Hyundai has increased market share from 3.1% to 4.3% while other auto makers have struggled. In 2009 Hyundai has staged a deliberate, edgy marketing coup that has capitalized on the "Big Three" giving up high visibility sponsorships and ad space. Combining these pivotal ad buys with a few key concepts they were able to turn consumer opinion and increase sales. Hyundai used a few key ideas to pull off this marketing campaign-all of which can be used scaled down at your local level.
  1. Know your consumer. During the Superbowl & Oscars Hyundai rolled out their Assurance program. It spoke directly to the fears consumers had right then regarding job security & an unstable economy, and showed them they could help.
  2. Create a plan and stick to it. I'm sure Hyundai didn't see an immediate spike in sales the Monday after the 'big game.' It's also been noted that on their new launch of the Luxury Genesis nothing happened over night-it took months of positioning and reinforcement to move the market.
  3. Blaze your own trail. When everyone else ran out of the market and quit advertising they stepped in to fill the void. In addition to that Hyundai was able to secure long term contracts on high profile events for the future.
  4. Take risks & Be forward thinking. When all the other manufacturers twiddled their thumbs waiting on bureaucratic red tape to clear Hyundai stepped up, backed their dealers, and started accepting Cash for Clunkers deals weeks earlier than everyone else.
  5. Make your message different. Every car company has a website. Hyundai is the only one that also has a website completely devoted to what others are saying about them. What shows more credibility than a marketing campaign revolving around industry expert's opinions of products vs. the marketing department's opinions. Brilliant.

Congratulations to Hyundai and their ad firm Omnicom's Goodby, Silverstein & Partners.

No comments: