New and used vehicle sales are dependent on the latest marketing methods impacting other industries. While these methods rely heavily on new media tactics (Youtube videos, Facebook likes, Twitter hashtags, e-newsletters, texting, etc.), a new Foresight Research study shows that classic marketing methods haven’t died off. Word of mouth recommendations on what car to buy is still the most valuable resource out there. As certified pre-owned vehicle sales become more important for dealers, having the best word of mouth strategy in place makes a lot of sense – including participating in channels where influencers are commenting on their vehicle purchases and sharing recommendations online.
The idea that a small group of influential consumers – usually brand-loyal males – have the biggest impact is the most important finding in this study. The Foresight Research 2014 Word of Mouth Immersion Report found that it’s a group of highly influential buyers who are 15% of the buyer population, but generate 59% of the word of mouth. They are more likely to be brand-loyal males who comment about their new vehicle purchase online. They spend $246 more on accessories, are more likely to be influenced by social media, use a mobile device, and attend a motorsports event.
Audi had the best performance rating in the study’s Amplifier Index – beating out a strong second-place Mercedes-Benz and scoring double the industry average. Foresight developed the Amplifier Index to show the strength of word of mouth for a
brand, segment, or buyer characteristic. The soaring Audi Amplifier Index score of 251 reflects high levels of creating and nurturing brand advocacy.