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Vehicle Decision Making is being Dramatically Affected by Word of Mouth through Social Media

kurbain

Rust & Dust
Jun 23, 2010
27
0
First Name
Katie
"In 2009, almost 13 percent of all new-vehicle buyers used some form of social networking to share information on their purchase decision. Meanwhile, for young buyers under the age of 35, this figure climbs even higher to 24 percent."

Foresight Research (AutoRemarketing) released a fantastic article regarding a fabulous study they did regarding car buying behavior. This research has proven that people are increasingly looking for advice and information through Social Media "friends" and Auto Industry 'shouters'. While this is going to continue to grow at an exponential rate it is important as a dealership to begin catering to these information driven customers. To do that it is imperative that you build your loyal customer base and turn them into brand ambassadors, meaning they will recommend your dealership to a friend who is ready to buy. You can't get loyal customers by shouting your messages from billboards, newspaper ads, and TV ads. You MUST go to them, join their conversation, listen, and let them get to know you -- not as just a business, but as people.

The other fantastic stat in the article is that 86% of new car buyers are using the Internet during some point of their car-buying process. This is a a huge deal to those dealerships who are having trouble getting leads from their website. Your website is a fantastic tool to get people in your door. Is your website doing it's job? Is it bringing these shoppers in the door? Is it giving them the information they are seeking in an easy to find intuitive way? Do you even know if it is doing it's job?

In what ways have you changed your marketing efforts to capitalize on the new way of car-buying?
 
Katie, thanks for sharing. Some great information included in the article. I'd like to see a study on how much influence a dealers website can have on "walk-in traffic". We know only 20% of the population will ever fill out a form online. There is another percentage that will call but what about the consumer that doesn't do either of these actions? What elements on a dealers website has the strongest influence for the walk-in customer?

What social elements should a dealer have in their website that too can have an impact?

Anyone have any thoughts on this?
 
Katie, thanks for sharing. Some great information included in the article. I'd like to see a study on how much influence a dealers website can have on "walk-in traffic". We know only 20% of the population will ever fill out a form online. There is another percentage that will call but what about the consumer that doesn't do either of these actions? What elements on a dealers website has the strongest influence for the walk-in customer?

What social elements should a dealer have in their website that too can have an impact?

Anyone have any thoughts on this?

The 2008 Northwood University/ATC study has been used by AutoTrader.com to explain to dealers how customers "Walk-In" without prior contact with the dealer. It's interesting to note that this is not ATC specific - it simply refers to "internet". No questions were asked about what influences a "Walk-In" decision.
Web Originated Dealer Walk In Traffic 012509
 
Hi Jeff.
Thanks for the comments.
I would say Inventory is key for these walk in customers. They want to browse for the car they are looking for, before they show up on the lot. They want to browse without pressure. Get an idea of what is on the lot and what the prices look like, and maybe to get a sense of any current offers. In our experience the faster we can get a customer to inventory by designing the website just right, the longer they stay on the site.

I would love to find out what influences the customers decision to not give any information. From my own experience in car buying, once they have my name and information I am spammed and called forever and a day, so I hesitate to give information until I am for sure ready to buy from that dealership. If I am going to buy there I am okay with getting offers, but if I am browsing at a handful of dealers I don't want the over-kill from all 5 of them!

Do any dealers have any insights to this? I'd love to hear what you know about walk-ins vs. form filler-outters?