Innovating in the hybrid cars market with competitive intelligence
Starting in 2019, every all-new model that Volvo introduces will be either a fully electric vehicle or a hybrid. That’s an ambitious commitment. With many manufacturers seeking to be the most innovative brand in the industry, Volvo needed to stand out in the highly competitive hybrid car space.
With such high ambitions, Volvo needed to truly understand what was happening in the competitive landscape. They partnered with Adthena for competitive intelligence to support their digital strategy to support their hybrid cars sales.
To execute on their brand promise, Volvo was working in collaboration with global media agency Mindshare, winning strong positive results after newly introduced hybrid keywords.
Increase in clicks
Significant boost in showroom visits
Improvement in new car configurations
CPA reduced by 50% on Paid Search
"Becoming the leader within the hybrid / electric car space is a key growth area for Volvo. Data led decisions will help us take advantage of this market opportunity and Adthena helps to provide insights that we can use to strategically enhance our core proposition.”
Volvo needed to understand the hybrid cars market, and to identify new opportunities to reach customers online. They wanted to understand how people were researching hybrid vehicles, and how they were converting on key hybrid search terms.
In collaboration with their agency, Mindshare, Volvo looked to Adthena’s Whole Market View to investigate new search term opportunities, and to better understand the consumer journeys people were making as they research and purchase hybrid cars online.
With Adthena’s technology, Mindshare and Volvo identified 72 new search term opportunities that captured consumer intent as they researched hybrid vehicles. Mindshare devised a test that measured potential clicks vs cost vs competition in order to better understand the full market opportunity, both in terms of volume and value.
The test helped Mindshare develop a clear understanding of the level of intent in their potential audience.
“With the help from Adthena we have been able to provide a clear market landscape view to identify who our key competitors are. Alongside the keyword expansion, both insight and targets have been delivered. This can truly provide a platform for Volvo to find the most qualified potential customers and make Volvo synonymous with hybrid cars."
Volvo and Mindshare benefited from Adthena’s Strategic Planning and Gap Analysis capabilities.
Adthena’s Strategic Planning empowered Volvo to understand how their campaigns are performing relative to their competitors.
Adthena provides an unrivaled understanding of the competitive search landscape, and this gave Volvo a deeper understanding of how consumers were researching hybrid cars, and which search terms were driving intent in the market.
Gap Analysis and new market opportunities
With detailed Gap Analysis on the new hybrid market, Volvo gained the crucial intelligence they needed to take a bold position in the market. They were able to invest in expanding search terms on hybrid generics, safe in the knowledge that they would be able to get the most value from their campaigns.
Read more insights and download the guide ‘Racing start: 4 stages to winning in new markets:’ on our Search intel for new markets hub.