According to a survey conducted by Dimensional Research, an overwhelming 90 percent of respondents who recalled reading online reviews claimed that positive online reviews influenced buying decisions, while 86 percent said buying decisions were influenced by negative online reviews.
Without doubt, we can now say that the conventional purchase lifecycle has changed (and continuously changing) with the ever increasing dominance (& relevance) of social media in our daily lives.
For those who are new to digital marketing, here’s a simple video that compares the purchase lifecycle back in 1990s vs 2014.
Unlike mediums like television or radio, internet audience can stumble upon your brand / product from anywhere. In today’s complex digital environment, there are more than 24 possible touch points that any auto buyer can go through in order to make a purchase decision. It would not be an exaggeration to say that the fortune of a brand gets decided somewhere between those never ending twitter feeds & Facebook timelines.
Take an example of car buying which is one of the most dynamic purchase life cycle concept in the modern day marketing.
Last year, Google Insights released a report according to which In-market auto shoppers are doing their digital homework. Auto video research is on the rise and mobile usage has increased 35% year over year. ( Read how digital drives auto shoppers in stores)
In this Google infographic, you can learn some of the digital automotive trends showing how consumers use the web to search for and buy cars.
Key Digital Automotive Trends from the above infographics:
- With more than 48% of car dealer search queries are now coming from mobiles, smartphone is increasingly becoming an important platform using which auto shoppers are doing their research.
- Digital Search & Product Reviews are becoming an integral part in the auto purchase lifecycle.
- Auto shoppers checking for product videos & video reviews is on the rise year on year.
- Online Video is becoming most critical content piece in the entire buying decision.