Successful marketing hinges on knowing what consumers want — and part of that is knowing who your customers are.
Women consumers are responsible for 65% of new-vehicle purchases and service work done at dealerships, Chase Auto Chief Marketing Officer Melinda Welsh noted in a recent blog post. As the number of females at the consumer end of the business grows, the number of women in the auto workforce has some catching up to do.
In this episode of The Roadmap, Auto Finance Excellence talks with Welsh about the often-missed opportunity of marketing to underrepresented demographics and how Chase Auto is “putting its money where its mouth is” as it pilots a new female-driven car-buying experience, she said. Welsh also discusses why it is important for lenders to promote diversity within the traditionally male-driven industry.
“What really stood out to me was I would go into meetings and often be the only woman out of 20-plus executive-level people, and I thought ‘What happened here? Did I just step back in time? Where are all the women and how could this possibly be good business?’” Welsh said.
“I remember someone saying to me ‘Wow you’re really tough to stick it out with all these guys,’ and my thinking and response was, ‘If I wasn’t in the room then there’d be no women in the room, so I’m not going anywhere and there’s more work to do,” she said.
Welsh, who will join Auto Finance News in a dynamic and engaging fireside chat at the upcoming Auto Finance Accelerate event, also outlines how auto financiers will need to adapt strategies as the role of marketing continues to evolve.
AFE encourages readers to join the Women in Auto Finance community — created to support and drive female participation and leadership in the industry. As a member of the Women in Auto Finance community you will receive access to several virtual meetings, with presentations by leading female industry execs on strategies for success. Members receive direct access to insights, a calendar of industry events, and key resources. The group also presents an annual in-person Women in Auto Finance Luncheon at the Auto Finance Summit.
Join the community to start accessing the Women in Auto Finance Community here.
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For more content like this, check out our upcoming event Auto Finance Accelerate, May 13-16 at the Omni San Diego. Visit www.AutoFinanceAccelerate.com to register.Like This Post