Consumers are using social media to find product recommendations, access dealer reviews, voice complaints, display preference, consider peer opinions, capitalize on coupon offers, and engage in ongoing dialogues with their favorite automotive brands. We believe the auto industry will benefit greatly from data-driven analytics to identify potential customers and social content delivery systems that bring automotive OEMs, dealers, aftermarket service providers and other members of the ecosystem closer to the consumers who are looking to make purchases.
The technology now exists to process and analyze social streams — not only to understand broader consumer attitudes and reputational issues, but also to identify, segment and profile individual consumers based on where they are in the purchase cycle, their preferences and needs, and even psychographic characteristics that influence how they want to engage with brands and service providers.
- Thirty-eight (38) percent of consumers say they will consult social media in making their next car purchase.1
- Twenty-three (23) percent of car buyers say they use social media to communicate their purchase experience.1
- Eighty-four (84) percent of automotive shoppers are on Facebook, and 24 percent of them have used Facebook as a resource for making their vehicle purchases.1
- Forty (40) percent of new car purchases over the next 10 years will be made by millennials. 2
- Ninety-four (94) percent of millennial car buyers gather information online.3
- Clicks on Facebook auto ads climbed from 16 percent to 39 percent between October 2012 and April 2013.1
- Campaigns focused on cars generate much higher consumer engagement and interest than other social media initiatives, such as charitable causes.
- Reputation management is seen as potentially the most critical aspect of social marketing, with consumer-generated content and commentary having a huge influence on purchasing decisions.
- Marketers view social as most effective when integrated with other channels and marketing approaches; many view social analytics as an invaluable source of insight for other digital and offline marketing efforts.
- Facebook is widely regarded as the most powerful social channel for automotive, but marketers say other channels can be more effective, depending on the need and strategy.