Gang, as we all know, in-market automotive consumers, meaning consumers actively looking to purchase a vehicle, rely heavily on online research-specifically watching videos. We read many (yes, we will say it one more time…many) studies showing how online videos significantly increase brand consideration and preference. To save you time here are some key findings of online video’s impact on the auto purchasing decision cycle:
• Some 71.9% of in-market respondents – 75.8% of men and 64.9% of women – say they would use the internet to research automobile models they might purchase or lease.
• Even among respondents 65 years and older – the only group less than two-thirds of which would use the internet for vehicle research – more than half (51.6%) said they would do so.
• Pricing information is the most popular among the types of data in-market auto buyers seek online (52.9%), followed by fuel economy (43.4%), performance info (43.0%), model specs (40.3%), safety info (39.9%), interior and exterior pictures (39.9%) and interior features (38.0%).
• Women to seek out safety information more than men (45.4% vs. 36.9%), including about crash-test ratings (36.2% vs. 24.5%).
• Some 25.2% of in-market consumers say independent websites are the best source of information about auto models, followed by automobile company websites (10.7%)
• Other sources cited as “best”: friends and family (10.9%), local auto dealerships (9.6%), magazines (7.4%), television (6.5%), radio (4.8%), local newspapers (4.8%) and national newspapers (4.3%).
Findings related to online creative:
• Nearly four of 10 (37.6%) – and at least one-third of all age segments – say they have watched an online video about an auto they might buy or lease.
• More than half (52.9%) among those who have not viewed online video say they likely will when they conduct online research about vehicles
• More than half (54.7%) of those who have watched a video – and 64.2% of those age 18-34 – say the video made them more likely to consider the model that was featured.
• Those who have viewed an online automotive video are more likely than those who have not to say automobile companies are “cutting edge” in their advertising: 37.1% versus 19.3%
As the new models are hitting the showroom soon, we will be crafting an infographic regarding consumer’s UGC video behavior.Tags: auto, UGC Video