Word of Mouth Still Pivotal in Selling New and Used Cars

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.

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