With automotive sales rising and a successful North American International Auto Show recently wrapping up in Detroit, it seems that the automotive industry is back on the upward trend after some rocky years. This seems even more solidified by a recent AutoTrader study showing that a majority of new cars are being purchased out of want, not need.
This, along with about 61% of people stating that they research first and then set their budget, show that people are not as cash-strapped as they have been in previous years. Coupled with the fact that around 75% said they do not have a specific make or model in mind when they first start the process, presents the perfect opportunity for dealers to influence a buyer in the early stages.
Auto Dealers are already aware of the importance of digital advertising. Out of the Detroit automakers, only Fiat Chrysler made an appearance during the Superbowl (Chevrolet’s ad ran minutes BEFORE the game). Most passed on the $4 million dollar price tag for a 30 second spot and focused on platforms such as social media and mobile advertising. After all, serving continuous ads, no matter what primetime television show is airing, might be more effective given how many people use a digital device.
The continuous trend toward digital advertising and the reasons for the shift are definitely something to keep a watch on in 2015.