Auto dealers aren’t paying enough attention to social media. The new Turning Social Feeds into Business Leads report published by the CMO Council along with hoojook, indicates that auto dealers are active in social media. The problem is, auto marketers are not using social media information to its full potential. Doing so would help them boost the number of leads they get every month.
The report’s findings show that consumer social activity is on the rise. This is especially true for younger consumers. Currently, consumer interaction with social media and a focus on auto purchases resembles the following:
- New car buyers will consult social media as part of their purchase process: 38%
- New car buyers will communicate the results of their car-buying experience on social media: 23%
- Automotive shoppers are active on Facebook: 84%
The generation of consumers with rising economic power, the Millennials, has been slow to move into auto ownership. But, that trend may change as these consumers enter new life stages like getting married and having children. Analysts believe at least 40% of auto purchases in the next decade will be made by Millennials. 94% of these consumers who have researched automobiles have done so online. This trend points to the need for dealers to have a strong social media presence and to engage with prospective buyers in this space on a regular basis.
Auto marketers have been spending more on social media advertising. In the past year, analysts note that clicks on the industry's ads on Facebook have jumped from 16% to 39%. Some industry experts believe that social media marketing dovetails well with automotive purchasing. The decision-making process is often lengthy and consumers very much want to know about the experiences of their peers. Often, seeing a post on social media can influence the emotional aspect of the decision.
To learn more about buyers who are interested in specific automotive brands, check out the Automotive AudienceSCAN reports available on the Research Store at ad-ology.com.