If automotive dealers and manufacturers need any proof of the importance of online peer review influence in the vehicle- buying process, they need look no further than the new report issued by eMarketer. The statistics in this report should prompt auto marketers to find ways to encourage recent buyers to post reviews on social network sites.
Plenty of auto buyers post feedback about their experiences and their new vehicles, but their rate (22%) is much lower than it is for other industries. Almost half, 46%, of social network users post restaurant reviews and 38% have something to say online about their new piece of electronic equipment.
The purchase of an auto means big money for both the buyer and the seller, a detail which makes user reviews more important. Studies released by Performics and ROI Research show that potential buyers pay attention to reviews through the entire sales funnel – in terms of deciding type of vehicle and brand to purchase as well as dealership selection. As the number of brands considered rises, so does the importance of reviews. When consumers consider 4 or more brands, 51% review consumer reviews. This number is slightly higher than the 49% who read automotive reviews.
To learn more about consumers in this market, check out the Auto Buyers Forecast, New Vehicles, available at the Research Store on ad-ology.com.[Source: For Auto Buyers, Online Reviews’. Emarketer.com. 6 May 2013. Web. 16 May 2013]