Earlier this week, I highlighted reports that described how automakers are using video games to engage potential buyers, especially the members of the Millennial generation. Automakers are also turning from traditional media and engaging with newer digital forms when they introduce new products. PcW's new Autofacts Analyst Note for August reveals just how important social media may be when it comes to selling cars.
PwC’s main talking points in this release are:
- Millennials comprise 40% of the prospective auto-buying population.
- 70% of consumers use social media when they set out to buy a new vehicle.
- Automakers can take advantages of connected mobile devices when building their marketing strategies.
PcW analysts note that Twitter plays an important role in expanding awareness through positive recommendations. Once a consumer begins to follow a brand on Twitter, he or she is more likely to recommend the brand to friends. Similarly, a negative experience induces 69% of consumers to share their story on social media. As has been the case in many other industries, selling cars is no longer a one-way communication. Automakers have the opportunity to use feedback to “customize their marketing strategies.” At least 40% of today’s consumers want to access product information online, in the store and on their phones. Erich Bergen, at PwC's automotive customer impact consulting practice, says “from training retail outlets to engaging through a loyalty program, each buyer has their own digital footprint and this creates an opportunity for automakers to engage."
The ongoing social conversation with fans and buyers will also help automakers enhance product features that consumers are looking for.
To learn more about a specific segment of the auto buying audience, such as luxury car shoppers, check out the AudienceSCAN reports available on the Research Store at ad-ology.com.