Shoppers are more likely to search for specific car brands, while those doing early research focus on more generic terms. Advertisers should generate awareness about their brand early on, when prospective buyers are more receptive to learning about the available options.
Luxury Study 2.0 – Opportunities to Grow the Luxury Market
Luxury Brands can differentiate with the consumer experience
Retain Owners – one-third of luxury vehicle owners are open to considering non-luxury for their next vehicle
Luxury brands have an opportunity to grow by reaching those shoppers who are “on the fence” by showing the value of the luxury brand experience
Shoppers view luxury and non-luxury vehicles similarly based on interiors, despite the pricing differential
When it comes to advertising, consider highlighting the interior features that resonate most with shoppers > Interior attractiveness is driven mainly by paneling and seats > Warranty and dealership experience are significantly more important to luxury shoppers
Our mobile-first world creates tremendous growth opportunities for marketers, and those who are evolving their approach to measurement to account for this new behavior are seeing the greatest results. We looked at the three core beliefs about measurement shared by leading marketers.
For growth-driven marketers, measurement isn’t an afterthought. It’s one of the key reasons they’re succeeding and growing in an ever-changing, mobile-first world. By evolving their approach to focus on business objectives first, use available tools and resources to bridge the gaps, and test bigger questions, they’re learning more quickly what really drives value.
It’s worth asking how you can take your own step forward on this journey. Do your KPIs accurately reflect your top business objectives? Do you know where you can and can’t attribute the impact of mobile on your business? And, how can you bridge those gaps? Have you experimented to find new business value from mobile?
Leading marketers don’t have a secret tool or a perfect KPI, but they do have the mindset to recognize the new opportunities and challenges brought on by mobile, and the flexibility to rethink measurement for growth.
Automotive Shopping Moments on Smartphone
> Which car is best moments
> Is it right for me moments
> Can I afford it moments
> Where should I buy it moments
> Am I getting a deal moments
Overview: Significant volume of Toyota shopping activity, KBB.com Expert and Compare cars are key for Toyota shoppers, 26% Higher activity on Lexus new car pricing pages than competitive set, over 7.2M Toyota trade-in reports generated, driving qualified shoppers to Toyota, Toyota sponsorships drive more lower funnel activities, more Lexus content researched during RX homepage takeover, homepage takeover increases engagement.
Toyota Core 4 Insights: A. The pace of growth is slowing B. Income growth has been stagnant since the late ’90s C. U.S. consumer confidence gains have stalled, foreshadowing a sales plateau D. Consumer vehicle purchasing power is on the decline E. Incentive spending is rising to sustain the record sales pace F. Subprime is now accounting for a higher portion of the mix G. Opportunity for non-lux OEMs to ‘turn the tides’ back if economy does stall out H. RAV4 share of compact SUV has grown slightly I. Cross-shopping review for Camry XS, Corolla XS, RAV4, Prius XS J. Everything except Prius has increased in loyalty over past 2 years K. Camry is being priced near the segment average L. Corolla is priced below segment average – created an opportunity to translate consumers to higher trims / Affordability opportunity M. RAV4 vs. compact SUV pricing curves N. Prius is priced below other alternative fuel vehicles… / leads its competitive set in perceptions in nearly every category O. Camry perceptions are very high P. RAV4 does not lead any factor, but above average on all
Disruptions getting a lot of attention: urbanization, gen z/millennials, sharing economy
Implications & Considerations: industry implications, dealer/OEM considerations, COX Automotive considerations.
Digital touchpoints on an individual’s (Stacy) car shopping journey.
71% of Stacy’s digital interactions occurred on mobile.
Displays her search keywords framed within moments: which car is best, is it right for me, can I afford it, where should I buy it, am I getting a deal – see what the results are for an individual’s (Stacy) car shopping journey.
1) Global Internet Trends 2) Global Macro Trends 3) Advertising / Commerce + Brand Trends 4) Re-Imagining Communication – Video / Image / Messaging 5) Re-Imagining Human-Computer Interfaces – Voice / Transportation 6) China = Internet Leader on Many Metrics (Provided by Hillhouse Capital) 7) Public / Private Company Data 8) Data as a Platform / Data Privacy
Learn how technology is transforming auto ownership & purchasing.