For those of us that look at the Buyers Awareness Cycle and understand consumer behavior, the chart above is not a big surprise. A vehicle warrants in-person visits to the dealership but it also warrants research, especially online as the statistic shows 89% visit the dealership website.
Do certain demographics have varying needs? According to the article "Millenials Want New Tech From Old Auto Industry", providing what changing buyers are demanding as far as information, shopping, and consumer reviews are becoming what is needed....
"In terms of buying vehicles, the ?Millennials in Automotive Survey 2009? finds that an overwhelming majority (91%) of Millennial-generation auto consumers feel it is important for auto manufacturers to offer websites that give them a full view of purchase options and service history, while 86% want web-based auto financing and service requests, and 87% want customization of car options, such as color and add-ons.
Additional survey findings:
- 56% of Millennials want to interact with automakers through instant messaging (56%).
- 74% want to be able to visit automotive company-hosted blogs to post concerns or ask questions.
- 52% want to get mobile alerts regarding new car releases, price drops and more.
- 44% seek to network with other auto enthusiasts through automotive company-supported social networking sites, Facebook or MySpace groups. "
So when advertising to the 80 million consumers born between 1981 and 2001, it is important to know the expectations of information from high-tech channels...
"Automakers and dealers already face enormous problems around operational costs, union contracts and the credit crisis,? said Dave Graff, US automotive industry solutions director, Microsoft. ?As the largest wave of consumers entering the market since the Baby Boomers, Millennials represent an amazing opportunity for automakers to tap into a new customer base. However, this requires a larger strategy toward leveraging customer-facing technology for competitive advantage - such as social networking sites, instant messaging and mobility.?