Do you have a huge interest in cars and prefer not to be tied down to a single one? If the answer is YES, then welcome to the Car Subscription Service industry. If you happen to live in Nashville then congratulations, you are the target of Porsche and BMW. Yes, BMW is testing its subscription service in Tennessee starting today (01/APR/2018).
The car subscription service – Access is offered by a local BMW dealership. However, BMW is not the trendsetter of this market. In October last year, Porsche launched its car subscription – Porsche Passport. By paying a fix amount starting from $2,000USD monthly, a customer can have an access to a number of SUVs and sport cars; he then can change different models as often as desired. Similarly, Care by Volvo, Book by Cadillac and other third-party services offer leasing, insurance and maintenance in one monthly payment.
Car Subscription Services target consumers that are familiar to the Sharing Economy. These services allow them to switch to different models of cars easily via a mobile app. Moreover, the monthly payment will cover all insurance and maintenance costs giving its customers a more stress-free experience.
Once again, BMW is not the trendsetter in this market and it will not be the last one.
I believe in the near future, any car manufacturers that do not offer these services, will be left behind. As a Digital Marketer, what would you do to make your company stand out? What other marketing strategies can be used, besides having a user-friendly app? How about freemium? A person can upgrade to own a car after using the subscription service for a specific period of time?
Do not hesitate to leave a comment below to share your ideas. Thank you for your reading.