Strategies for Growing Your Electric Vehicle Business

There is a rising interest in electric vehicles along with fuel price spikes. It’s time to start flexing digital visibility to grow your EV business. The total EV sales reached 1.53 million in 2023, registering strong growth.

Businesses can use these opportunities to increase their electric vehicle sales in India. Yet, they fail to use these electric vehicle business ideas. There are several reasons for this.

There are a few major challenges when it comes to EVs. These include lack of awareness, range anxiety, and insufficient EV charging points. These issues lead to hesitation among consumers in large markets like India.

GrowthJockey recommends strategies to increase the sales of electric vehicles in India. Businesses should adopt a proactive and organised approach. This is necessary to succeed in the changing market.

8 Winning Strategies for a Thriving Electric Vehicle Business

Many EV marketers still use run-for-the-mill strategies to get EVs into consumers’ hands. But, those who embrace the shift can adapt their marketing strategies. These businesses can position their brand in the market.

So, we have listed some approaches to ensure more sustainable growth in the EV space.

Educate Your Audience

A winning marketing strategy is about educating your target audience about your products. This is even truer when it comes to newer products like electric vehicles.

EVs are new in the market, and many buyers have concerns about getting these vehicles. So, create campaigns that explain how these technologies work. Talk about their benefits and features. It will help people understand why they should switch from traditional cars to EVs.

Social Media Presence

Customer education is of great importance in EV marketing. Hence, using channels where the audience becomes crucial. EV marketers can increase their presence on social media.

This allows them to access their customer base with ease. They can use these platforms to educate the audience using images and videos.

They cannot only use brand content but also use social influencers to educate the audience. EV brands can also rely on a few proven methods to attract more electric vehicle sales in India. These include user-generated content and customer reviews.

Brands can also use social media to highlight the positive impact of electric vehicles on the environment. Many people are becoming conscious of their carbon footprint. Brands can reach them with a relevant message.

Use the Omnichannel Approach

Marketers should invest in their digital presence. This is to provide easy access to information about essential customer concerns. For example, discussions about customers’ EV pain points are a great way to attract and engage the audience. But, sticking to one platform may not bring the desired results.

Marketers can use consistent branding and messaging for online and offline touchpoints as the audience is everywhere. It leads to a more impactful customer experience. It further allows brands to use a consumer-centric approach. This keeps the customer journey at the top of their minds.

Apply Customer-Centric Approach

A customer-centric approach is the best sales strategy. It needs brands to find customers' unique needs, pain points, and anxieties around EVs.

It allows you to customise your products and services. As a result, you can create personalised communication and targeted marketing and deliver exceptional customer service.

This is where creating customer personas and segmentation works the best. Using these insights, brands can tailor solutions that suit different customer groups. This customer-centric approach helps improve trust and brand loyalty.

Consider New Avenues of Engagement

It is common knowledge that Millennials and Gen Z are the target audience of EVs. So, marketers must use the trending channels to engage their target audience. For this, marketers can use augmented reality (AR), videos, and audience insights tools to engage the audiences.

Smarter targeting tools enable marketers to attract and engage customers in this new market. Further, it can take months to move them from awareness to the purchase stage. So, marketers can create campaigns that address customers’ needs, hopes, and anxieties around EVs.

They can use these channels and tools to educate buyers about electric vehicles and nurture them for future purchases.

Upgrade After-Sales Services

EVs need less after-sales service than traditional ICE vehicles do. But, they need skilled technicians who understand battery and high-voltage technology. EV businesses can focus on creating EV-specific training programs for dealers and technicians.

They can also offer EV-specific service offerings and maintenance plans to increase electric vehicle sales in India. Win customers over with superior services online and offline. Such services could help improve the user experience. These services can help position your brand in the market and help create a positive reputation.

Target Focused Marketing

Not just EV marketing, all advertising strategies must keep the target audience in mind. The younger generation prefers to buy EVs. Hence, focusing on eco-conscious people is the right way to use targeted marketing. Brands can reach people looking for sustainable vehicle options and early technology adopters. Older generations looking for cost-saving solutions can also become potential buyers of EVs.

Personalising your campaigns with targeted messages can make a significant difference. Bands can maximise their marketing efforts and benefit from electric vehicle business opportunities.

Improving EV Charging Infrastructure

One major concern of buyers is the range anxiety around EVs. Improving EV charging infrastructure can help increase electric vehicle adoption. A brand can partner with an electric vehicle charging station business in India to expand the network if possible.

For example, consumer vehicle brand Ford works with Centrica to offer home-charging installations and electrified-vehicle tariffs. A similar model can work for Indian brands to make EV chargers accessible to customers.

EV brands can also work with governments to install charging stations. With fast chargers available in multiple locations, the hesitation of potential buyers to invest in these vehicles will ease.

Final Thoughts

The Indian EV market is full of growth opportunities. Experts expect it to reach $19,980 million^[1] by 2028. But it takes careful planning and strategies to make your EV business stand out.

Focusing on what works best for your business and customers is also crucial. So, research well and find your target audience before running into full-blown marketing campaigns. From educating buyers to boosting engagement, electric vehicle brands can benefit from the growing EV adoption.

Partner with a team of digital marketing experts like GrowthJockey to maximise digital marketing potential. We understand why keeping up with evolving market trends and consumer preferences is important for brands. Lead the charge towards more sustainable growth with us.

FAQs

1. How can I increase my EV sales?

Most consumers don’t realise that EVs are more accessible to operate and cost-effective in the long run. EV businesses can start by educating the audience through multiple marketing channels. Further, improving the charging infrastructure can help increase electric vehicle sales in India.

2. How can I promote my EV in India?

The EV market is growing at a breakneck speed. To cut through the competition, businesses need well-thought strategies to market their product.

Perfecting their omni-channel marketing approach is one way to reach more customers. Using multiple channels to improve online visibility can help you promote electric vehicles in India. These include social media, influencer marketing, SEO, and paid ads.

3. Who is the target audience for EV?

The target audience for the EV market is people who are eco-friendly and want to do their part to reduce their carbon footprint.

Apart from this, some wish to save money on fuel costs. Electric cars are more expensive to purchase upfront but cheaper to operate in the long run. Also, people who want the latest and greatest technology are the right target audience for EVs.

4. What is the biggest challenge in the EV market?

The biggest challenge in the EV industry is the price and affordability. EVs, especially those with longer ranges and premium features, can be more expensive than their internal combustion engine (ICE) peers. Encouraging potential buyers about EVs’ cost-effectiveness and environmental benefits in the long run is a challenge.

5. How is the EV market growing in India?

India ranks at the 3rd position in the global automobile market. With a push for greener options, the EV market is showing steady growth. Further, a report predicts it will see a 49% CAGR by 2022^[2], reaching 10 million sales by 2030.

1. $19,980 million - Link ↑
2. 49% CAGR by 2022 - Link ↑