SOUTHFIELD, Mich. ATLANTA Feb. 4, 2011 Automotive Buyer Influence Study Polk
The study also revealed that 58 percent of used vehicle buyers and half of new vehicle buyers said their Internet research was the most influential element in their vehicle search, and ultimately led them to the dealership where they made their vehicle purchase. As part of their business planning initiatives, OEMs and dealers need to be certain they’re developing Internet strategies to meet consumers’ needs; which means understanding and investing in Web features that are most valued – and maintaining them regularly – to drive consumer traffic to their showrooms.
The survey polled 4,005 U.S. consumers who recently purchased a new or used vehicle from a dealership. More than 70 percent of new and used vehicle buyers said that they used the Internet while shopping for their vehicle, according to the study. In addition to being the most-used channel for information, two-thirds of those surveyed rated the Internet as ‘extremely helpful’ in their purchase decision. In comparison, only half of used and new vehicle shoppers rated a referral from a friend or family member as ‘extremely helpful’ and other sources (TV, radio, direct mail) scored much lower.
Despite the popularity of social media among consumers, only three percent of the new- and used-car buyers surveyed said social networking sites influenced their vehicle purchase decision. This is not to say that OEMs and auto marketers should ignore social media. However, it serves as a reminder about the other primary channels that are currently more influential in the vehicle shopping process than social media. Marketers must make sure they’re doing everything they can to market effectively and efficiently through those channels before focusing too much on their social media efforts.
Polk Chip Perry Polk
The study showed that among new vehicle shoppers, vehicle comparison tools are most helpful, followed by pricing information. Used vehicle shoppers preferred pricing information followed by vehicle comparison tools. Forty-two percent of new vehicle buyers use the Internet to find out about special offers, dealer rebates and incentives, much more than their used car counterparts at 28 percent.
Search engines are commonly used, with Google cited as a primary mechanism for getting car buyers to the dealership website from which they purchased their vehicle. About half of buyers who visited a dealer website arrived at that site via search. According to the survey data, for most car buyers however, search engines are the new Yellow Pages: buyers are using online search engines to find specific information like the address, web site or phone number of dealerships they already know or are aware of.
The study also highlights the continued importance of walk-in traffic to dealerships – and how consumers shop online and then most often arrive at a dealership without emailing or phoning the dealer first. According to the study, seven out of 10 vehicle buyers walk into a dealership without establishing any contact with the dealership first. As a result, dealerships must maximize their online marketing – both in marketing the vehicles they have for sale, as well as their dealership experience.
Andrew Price Polk
http://www.polk.com/knowledge/pv25 Polk San Francisco Feb. 5 – 7
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