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Automotive Marketing Research Study by Dennis Galbraith
 

Automotive Marketing Research Study by Dennis Galbraith

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Automotive Marketing Research Study by Dennis Galbraith presented to the 1st Digital Dealer Conference in 2006

Automotive Marketing Research Study by Dennis Galbraith presented to the 1st Digital Dealer Conference in 2006

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  • Like consultative selling process. Consumer is in charge. You cannot hard sell. Listening 2 ears 1 mouth Barfing your canned presentation on the customer Matchmaking Dating, jobs, Professional services Demonstrating Manufacturers don’t own stores
  • Asbury Automotive
  • Group 1
  • AutoNation

Automotive Marketing Research Study by Dennis Galbraith Automotive Marketing Research Study by Dennis Galbraith Presentation Transcript

  • The Future of Automotive Internet for AAISP Dennis Galbraith, Senior Director
  • Automotive Internet Usage Among New- 1 vs. Used 2 -Vehicle Buyers 8-Year Trend 2 Based to total used-vehicle buyers. Source: J.D. Power and Associates 1998-2005 Used Autoshopper.com Studies 1 Based to total new-vehicle buyers. Source J.D. Power and Associates 1998-2005 New Autoshopper.com Studies
  • Internet Impact on Car Buying Purchase Decisions Based to all New-Vehicle Buyers Dealer Selection Lender Selection
  • Internet Impact on the Different Purchase Decisions Based to all New-Vehicle Buyers Price Paid/ Offered Make/Model Selection
  • Most Influential Consumers Are Automotive Internet Users
    • 72% of auto-enthusiast magazine readers are AIUs
    • 74% of new-vehicle buyers who are frequently asked about vehicles by others are AIUs
    • 75% of “Auto Experts” are AIUs
    Based to all new-vehicle buyers
  • The Internet Is Vital to Buyers Under 40
    • 80% are Automotive Internet Users
    • Internet impacts their decision making
      • 67% impacted in their make/model selection
      • 64% impacted in their price paid/offered decision
      • 33% impacted in their dealer selection
    Based to all new-vehicle buyers under 40 years of age
  • Primary New Online Buying Services Median $140 Average $220 12% $500+
  • Member Services Median $125 Average $172 7% $500+
  • Primary Used Online Buying Services Median $160 Average $261 15% $500+
  • Classified Advertisement
  • Advertisement or Product Demonstration?
  • New-Vehicle Online Purchase Funnel Total New- Vehicle Buyers 100% New-Vehicle AIUs 67% Requested Referral 21% Sourced Online 12% 33% Did Not Use Internet for car shopping 68% Selected a dealer and went to store without submitting a lead 45% Bought from a different dealer Base = Total Buyers
  • Other Links from Site to Store
    • E-Mail
    • Instant Message
    • Phone
    • Video Phone
    • In Person
      • Ups
      • Appointments
  • Request for Test Drive Appointment
    • Description of Sales People
      • Picture
      • Background
      • Video
    • Calendar Selection
    • E-Mail Confirmation
    • Phone Confirmation
  • The Internet’s advantages resemble the consultative selling process
    • Listening
    • Matchmaking
    • Demonstrating
  • Listening
    • Browse
      • Navigation
      • Naming Conventions
      • Speed
    • Search
      • Language rather than word
  • Honda: “Does Ridgeline come in Red” produces Redrock Pearl Ridgeline
  • Matchmaking
    • Product selector tools (there are now 300 plus models to choose from)
      • Attribute based queries
      • Others like you
      • Lifestyle matching
  • Online Product Demonstration
    • What features are available?
    • What benefits does it provide?
    • How does the product work?
    • How does the product compare?
    • Why should I care?
    • How can I be sure?
    • What is the value proposition?
  • Lexus offers links to videos to learn about safety features.
    • Why this feature is effective and how it can be improved:
      • Audio and video help shoppers understand the functionality of the features
      • Safety benefits are clearly explained
      • Text is easy to understand and avoids technical jargon
    Demonstrate Vehicle Safety
  • Demonstrate Superiority of the Vehicle Ford uses video to distinguish the F-150 from its competitors.
  • Demonstrate lifestyle adaptability and payload versatility of the vehicle Land Rover demonstrates cabin seating and cargo space by displaying actual people in the vehicle.
    • Why this feature is effective and how it can be improved:
      • Allows for visualization of passenger seating and cargo capacity
  • Dealer Site Activity
  • David McDavid - 8 Brands
  • Bob Howard Auto Group – 16 Brands
  • PowerDirect.com – 25 Brands 25 Brands
  • Galpin – 8 brands sorted by price or body style
  • Integration Offline Online In Store Integrated Advertising Integrated Sales Engagement: Advertisement Vehicle Sales Person
  • Online Marketing Changes to Come…
    • Current Practices
      • Leads
      • Sites ask customers to choose
      • Advertising by ad medium
      • Get customers into the store
      • Configure exact vehicle
    • Future Successes
      • Appointments
      • Sites listen to customers and help
      • Advertising by relevance
      • Get customers engaged
      • Configure to a range of vehicles
  • Parting Advice
  • Media Usage Is Changing
    • Be sure your advertising budget moves in the same direction the consumer is moving.
  • Communicate the Way the Customer Wants To
    • Phone
    • E-Mail
    • Instant Message
    • Appointment
  • Greater Transparency and Disclosure
    • Don’t expect the next buyer to settle for less information than you did when you bought the vehicle.
  • Know Thy Product.
    • Consumers have never been more informed. Salespeople need to be product professionals even if they are new to the job.
  • Work Every Lead
    • Work every lead as though the person who just entered your electronic store mattered as much as the one looking you in the eye.
  • Great Dealer Sites
    • Build a great dealer site and drive traffic to it with options like local search.
  • Internet Is Not Just For Incremental Sales
    • Parts
    • Accessories
    • Repair
    • Maintenance
    • Stimulate Referrals
    • Repeat Sales
  • Read or Listen
    • www.OnlineAutomotiveReview.com
      • Dealer Edition Online Automotive Review
      • Fixed Operations Edition Online Automotive Review
    • Digital Dealer
    • Wards Dealer Business
  • Thank You Dennis Galbraith, Senior Director [email_address] 805-418-8221