These were important findings within MotoNovo Finance's latest wave of its long-term, independently undertaken research assessing consumers attitude to car buying, assessing how the car buying journey & research has evolved over the last year.
While the research phase of a car purchase by consumers is dominated by online marketplaces and other online search tools, the position is reversed entirely in the final decision-making processes. Dealers are dominant when it comes to the purchase point with online (led prominently by OEM websites) and private purchases, both a considerable way back in sharing a little under 25% of the market.
Encouraging as the data is for dealers, there is no room for complacency, as MotoNovo's MD Karl Werner points out;
"What we can see in action is the classic marketing AIDA mantra; Awareness, Interest, Desire, Action, with dealers only performing well in the final Action stage. It presents a potential risk if online can bridge that final process hurdle.
Digitally, dealers can help themselves by providing a more rounded consumer experience/journey that moves beyond the dominant focus on cars/vans and builds value in a broader offering and service/lifetime experience. A vital learning point over the last twenty months has to be that service and experience often outranks price and product alone."
*Article Source www.rocketperformance.co.uk