Video Content Offers Transparency to Prospective Car Buyers
The Canadian e-commerce market is booming and current auto trends show the integration of video content plays a key role in the buying process.
Canada has seen an incredible incline in e-commerce – an online marketplace where consumers can buy a product or service at the click of a button. Canadian statistics report that a significant portion of the population makes online purchases via their mobile devices, guiding businesses to incorporate mobile platforms into their marketing initiatives.
In an overview of the 2016 e-commerce Market, writer Jaz Frederick, presents these statistics as a clear reflection of where the economy is headed. “The 2016 Canada e-commerce Market features a sophisticated economy,” Frederick says, “and a growing e-commerce industry expected to total nearly $40 billion by 2018.”
There is a feeling of trust and integrity that comes from the transparency of businesses who choose to show their values via online mediums. In addition, there are mutual benefits for both the consumer and the automotive dealer, which influences current marketers in the industry to build e-commerce platforms.
The automotive industry is well aware of this growing marketplace and continues to create a user-friendly experience for value-based consumers.
The Value-Based Consumer
The value-based consumer is interested in the value of a company and considers everything from their web presence to their marketing strategy. The use of video in car sales is an effective way to provide a personalized experience for prospective buyers. The associated benefits include:
- Facilitating the buying experience as prospective customers can investigate vehicles and understand their options prior to visiting the dealer.
- Connect the dealer and prospective customer to build rapport and establish trust and transparency.
- Create an easy-to-use and simplified experience for prospective customers who don’t have time to visit dealerships.
The automotive industry is built on the investments of consumers looking for safe, reliable, and affordable vehicles. The dealer has always had a significant impact on the sale, as transparency plays a key role in a consumer’s motivation to do business. Forbes contributor, Anjali Lai, describes today’s consumers as being empowered and enabled by the increase in connectivity and technology. In other words, consumers will look to the internet prior to stepping foot in a dealership.
Here in comes the incorporation of video.
A shift in consumer behaviour, from the retail floor to online shopping carts, has leveraged opportunity for the automotive industry to connect with consumers. Now more than ever, the convenience of shopping online has become so mainstream, that dealers are seeing the positive impact this has on sales. In fact, industry voice, Louis Ziskin, states that eBay reports 63% of prospective buyers would purchase online.
There is a growing need for companies to incorporate online platforms and video presentations to help customers through the buying journey. The automotive industry is seeing a positive impact on sales when videos are part of the sales process. Writer Kyle Lindsay stated that a UK survey showed 74% of respondents felt more confident about their vehicle purchase when videos were provided.
V12Data supports this adoption of online marketing and sales initiatives that use video in their strategy. They found 69% of online shoppers were more influenced to buy a car they had seen on YouTube than other common platforms such as TV. This consistency in statistics confirms the positive impact video content has on providing customers with a personalized experience.
Effective Strategies for Dealers
The utilization of video to provide prospective car buyers with information is an effective strategy that has mutually benefited results for both the consumer and the dealership. The opportunity to experience the full interior and exterior of a car before seeing it in person, gives quality advantage to consumers looking for a convenient and efficient shopping experience.
This doesn’t mean in-person communication between dealer and consumer is no longer necessary. There is great value that comes from building one-on-one relationships with people. However, establishing an online connection definitely sets the tone for building rapport, achieving transparency, and making the sale.