Digital Influence: What it is, and Why it’s So Important for the Auto Industry
Technology has changed how we shop. Consumers are no longer content to trust advertisements and salespeople working on commission; now, they want to do their own research, understand their products, and get advice from unbiased sources to inform their purchasing decisions.
Digital influence--online sources that influence purchasing decisions, like websites, online reviews, influencers, and social network connections--has created a whole new dimension in the retail experience.
Consumers have more opportunity to be informed than ever before, and they’re taking full advantage, leading to an increase in consumers leveraging digital influence to inform their purchases.
We also know that information from third-party sources has never been more accessible. These factors have resulted in consumers doing more online research and, in turn, making more online purchases.
According to the Hedges & Company 2019 Automotive Industry Analysis, 9 out of 10 consumers do online research before buying an auto part or accessory.
A survey by Cars.com found that millennials, particularly, do their research, reading an average of six online reviews, asking six loved ones for recommendations, and watching four online videos before making a purchase.
Research, in turn, leads to sales. Amazon auto parts sales are expected to surpass $8 billion this year, with over $7 billion in online parts sales coming from mobile. It’s never been more important to look good online, on sources that you can’t control.
So how can auto parts companies leverage digital influence to drive sales? The key lies in making the best possible products, and making sure those products are talked about. Gone are the days of cheap marketing tactics--the modern consumer wants honesty and information.
And if they can’t get it from you, they’ll get it somewhere else; 62% of millennials have done research on a car while at the dealership.
The best companies will expand their online platform to provide car and auto parts statistics, encourage easy comparison with other products, and make sure online reviewers and influencers are talking about their brand.
Digital influence is the future--make sure you’re on board.
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