Social media and the automotive purchase cycle
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Transcript of Social media and the automotive purchase cycle
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Social Media and the Automotive Purchase Cycle Jan 2012Key takeouts
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Social Media in the Car Buying Process
The Rise of Loyalty, Advocacy and Influence
(c) Dealer Dot Com, Inc
•27% use Facebook as a resource•38% use social media to research purchase
BRAND: •58% posted a comment about their new vehicle•24% ‘liked’ the brandDEALER:•34% posted a comment about the dealership•24% ‘liked’ the dealership
65% said that a favourable post from a friend would positively impact opinionBRAND:•41% saw a post that caused them to add a brand or model to their consideration list•6% saw a post that removed a brand/model from their listDEALER:•28% saw a post and added a dealership to consideration•3% saw a post that removed a dealership from consideration
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Influence is increasingly coming from other consumers
IBM Global Business Services, “From Social Media to Social CRM: Reinventing the Customer Relationships” Feb 2011
“45% of consumers ask friends or family for recommendations”
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Trust, transparency and accuracy are critical
Edelman Trust Barometer, 2011
“97% buy products from those they trust”
“90% don’t buy products from those they don’t trust”
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Positive posts outweigh negative significantly
“Of those that commented about a vehicle or dealership, only 5% of posts were mostly negative”
The Rise of Loyalty, Advocacy and Influence
(c) Dealer Dot Com, Inc
“34% mentioned the dealership”
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Consumer Reasons for Visiting a Retailer Facebook Page
Keep up to date on sales and promotions
Learn more about a retailer
Appears in news feed/friend likes
Communicate retailer preference
Connect with others liking retailer
56%
29%
26%
14%
14%
Complete Online Shopper Intelligence, Q1 2011 (survey of 3,269 online purchasers)
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Facebook Resources used
Advice from friends/family on brands or models
Manufacturers Facebook Page
Dealership's Facebook Page
Consumer Reviews or blog postings
Advice from friends/family on dealerships
59%
56%
53%
53%
38%
The Rise of Loyalty, Advocacy and Influence
(c) Dealer Dot Com, Inc
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Asking prospects or customers to follow/like you
75%
Were you asked to “like”?
Did you follow through and “like” as requested?
82% YES