A report published by the Interactive Advertising Bureau in January, and highlighted by AdWeek last month, noted that car buyers are 71% more likely to be influenced by digital ads than other shoppers.
This may seem like an unusually high percentage but when you consider the perspectives of car-buying consumers, this statistic is really not surprising at all. Purchasing a car is an expensive investment, so before potential buyers step onto the showroom floor, they want to be fully educated.
Compared to consumers who aren’t in the market for a car, in-market shoppers also:
– comparison shop online
– own smartphones (75% in-market shoppers vs. 54% shoppers not in-market)
– own tablets (42% vs. 33%)
– research all products online before buying at a higher rate (58% vs. 42%)
While consumers continue to spend the majority of their browsing time online, car dealers are taking advantage of this reality and putting more of their dollars into digital channels. In 2013, dealers’ mobile sites accounted for 26% of visitor traffic, a 50% increase over 2012.
Through Dealer.com’s Unified Advertising Exchange, we’ve seen cross-channel spending increase significantly, specifically on Google, Yahoo!, and Facebook. As Dealer.com’s Chief Digital Strategist Dave Winslow shared with AdWeek, “Search has been part of dealer budgets for a little while, but display is rapidly growing.”
As dealers continue to invest in cross-channel ad campaigns, Dealer.com is confident that targeted advertising will continue to result in increased dealer website traffic, and new sales opportunities.
This infographic, as originally posted in AdWeek, further illustrates key data points around the growth of digital advertising.