understanding the modern-day buying journeyunderstanding the modern-day buying journey 59% 91% 3...

Understandingthe Modern-DayBuying Journey

51%

An evolution of the car buyer.

of car buyers starttheir journey online 1

2 3

CitNOW Understanding the Modern-Day Buying Journey

As technology evolves, the way consumers shop for vehicles continues to change. Gone are the days of entire weekends spent visiting multiple dealers just for research.

For more than half of modern car buyers, the customer journey begins not at the dealership, but online - on phones, tablets, laptops and other connected devices.

46% Laptop

25% Tablet

Modern Consumer Trends 43% of 35-44 year olds

stated they would consider

buying a vehicle online. 2

4 5

Most Popular Devices 2

39% Phone

CitNOW Understanding the Modern-Day Buying Journey

The digitisation of the car buying experience makes interactions easier, slicker and on demand.

Research shows that while some buyers complete their entire purchase journey online without ever visiting a dealership, a local hub for buyers could become more important for the audience in the future. All age groups surveyed say they want more face-to-face contact with dealers.

As the industry continues to evolve and embrace digital marketing, there could be a further shift in consumers’ buying behaviour.

32% of buyers say they would

be comfortable buying their

next vehicle entirely online. 2

43% 32%

Understanding the Modern-Day Buying Journey

91%59%

3 hours 23 minsis the daily UK average time spent

looking at a mobile phone. 3

6 7

A car buyer’s behaviour in 2019 is heavily influenced by their broader expectation of quick, simple, convenient interactions as a consumer. Here are some of the key trends shaping the modern customer journey.

Modern Consumer Trends Cont.

TechnologyThey want to be able to complete much of the process from their phone or device - and technology should make their life easier.

ImmediacyThey expect information immediately and if they can’t find the answer, expect you to be there with answers - however and whenever they choose to get in touch.

Micro MomentsWith information always at their fingertips, people are turning to their devices reflexively to inform a buying decision in real time.

PersonalisationConsumers expect you to earn their attention, loyalty and trust. They expect more personalised interactions with brands, tailored to their needs and preferences.

of customers say that

personalisation influences

their shopping decision. 5

of people look up

information on their

smartphones during a task. 6

200% increase in mobile searches for

“open” “now” “near me” in the last two years. 4

8 9


Stage 1:Discovery

Just like other retail sectors, from groceries to clothes, people are increasingly turning online to research and save both money and time.

This evolution in customer behaviour has raised questions around the relevancy of the dealership in the process. However, research conducted by CitNOW has revealed that dealerships do have a crucial role in the car buying process of the future – despite the adoption of online shopping and new technology.

But retailers must evolve as well.

More than half of people now start their customer journey online.

Social media platforms, review sites and Used Vehicle Locators are key resources

for consumers at this stage.

Stage 1: Discovery Stage 2: Consideration Stage 4: RetentionStage 3: Decision

Where do consumers search fortheir next car?

YouTube AutoTrader Facebook

10 11

of car buyers research online before they buy. This includes searches in relation to

consumers’ lifestyle, budget and the in-car features they desire. 9

of people find social media useful when deciding on

a new car purchase. 8

of consumers prefer to watch a video when researching a product. 7

92%

82%

75%

How are consumers researching their next vehicle purchase?


12 13


Stage 2:Consideration

In a crowded digital marketplace, it’s never been more important to stand out. It’s crucial the customer has all this information they need at their fingertips to aid them while making their decision. They expect this to be easy, immediate and relevant.

In property, you would want every specification of a prospective new home to be available on the listing - from images and floor plans, to council tax band. It’s no different in the automotive sector.

Industry leader Auto Trader highlighted the importance of ‘Making your car the star’, based on scientific analysis of their 50 million monthly site visits. Full digital vehicle assets are essential for a smooth customer experience.

CitNOW Web allows you to create high quality images, video and 360 assets -

helping you save time, effort, money and generate more enquiries.


14 15

Bridging the gap between online and offline is key in this digital age of car buying, but there are lots of simple actions you can take to ensure you’re meeting the customer’s expectations.

Here are some tips on how you can effectively digitise your customer experience:

This is where the CitNOW Web and CitNOW Sales apps can be so helpful for dealerships, allowing staff to create both vehicle listing and personalised

video assets quickly and easily.

of car buyers who watch an online video will perform a follow up action. The most common being a visit to a dealership. 1

Create HighQuality Images

Use Personalised Video Walkarounds

Include FullSpecification Details

Don’t OvercrowdImages with Branding

87%


16 17


Stage 3:Decision

Building a solid customer relationship is as important as ever to closing a purchase, but to gain trust and loyalty in 2019 you must ensure you’ve made the journey painless throughout.

Customers want more relevancy, and intelligent personalisation of offers, products and services can prompt them to act. Making the route to purchase as simple and efficient as possible helps customers come to a buying decision quicker. Taking advantage of those micro moments, when customers are on their device and primed to purchase, is key.

Micro MomentsWith advances in voice technology (Alexa, Siri, Google Home), instant online payment solutions, and more sophisticated online chat options, retailers must compete to make their buying journey as user friendly as possible.

Instant Payment

Instant Chat

Voice Tech.

Stage 2: Consideration Stage 4: RetentionStage 3: DecisionStage 1: Discovery

Trust

18 19

CitNOW Sales helps you take the dealership digitally to the motorist, allowing you to create and use personalised video content to individually respond to customer enquiries. This builds trust and transparency with the customer, helping them move from ‘consideration’ to ‘decision’.

Transparency Loyalty

88% say personalisation helped them realise

a measurable lift in business results. 10

of shoppers who watch online videos to inform their purchase say new formats like 360° video would convince them to buy a car without a test drive. 9

In the past two years, watch time of “test drive” videos on YouTube

has grown by more than

64%

96% of Digital Marketer respondents praise the

ability of personalisation to advance customer

relationships. 10

65% 10


20 21


Stage 4:Retention

The purchase doesn’t represent the end of the modern car buyer’sjourney, though - the goal is to create advocates for your business.It’s vital to create brand loyalty and equity with customers so that they repeat their custom and actively promote you to their contacts. Expectations are set pre-sale, but must be met throughout the customer’s journey to secure a long term relationship.

Customers highly value great experiences, so brands need toensure they provide personalised, relevant communication postsale. 86% of buyers will pay more for it, and by 2020 it will overtake price and product as the key brand differentiator. 11

The CitNOW Workshop app allows dealerships to continue having

transparent, valuable interactions with customers post sale.

It costs 5x as much to attract a new customer, than to retain an existing one. 12

Existing customers are 50% more likely to try new products and spend 31% more, when

compared to new customers. 12

47% of consumers won’t engage with a business after a moment of brand disappointment. 13


22 23


References

1: Kantar TNS / Google, Auto CB 2018

2: CitNOW ‘Evolution of the Car Buyer’ 2019

3: http://new.whatmobile.net/uks-screen-time-stats-revealed/

4: thinkwithgoogle.com/consumer-insights/purchase-journey-assistance/

5: infosys.com/newsroom/press-releases/Documents/genome-research-report.pdf

6: Google/Ipsos, “Consumers in the Micro-Moment,” March 2015.

7: Wyzowl, ‘Video Marketing Statistics 2018 Survey: The State of Video.

8: facebook.com/business/news/insights/understanding-the-auto-buying-

journey-of-the-connected-consumer

9: Google/Kantar TNS, U.S., The Drive to Decide Survey, n=500 recent car buyers, 2018.

10: Google Data, U.S., April 2016–March 2017 vs. April 2018–March 2019.

11: Walker study, 2018 | walkerinfo.com/knowledge-center/featured-research-reports/

Customers-2020-A-Progress-Report-OLD

12: invespcro.com/blog/customer-acquisition-retention/

13: blog.hubspot.com/service/customer-loyalty-trends

CitNOW

www.citnow.com