Google research published a tremendous piece entitled “The 5 auto shopping moments every brand must own”. If you haven’t read it yet, grab it here.
Using the vast insights into consumer behavior, Google is uniquely positioned to understand the customer journey and how the digital landscape has changed the traditional car buying journey. Google calls these ‘micro moments’ – times when car buyers turn to online and digital sources to help select the perfect vehicle for their needs.
I’m not going to recap the entire article here … I want to focus on one specific ‘moment’, but for sake of reference, here are the five car buying ‘moments’:
- Which-car-is-best moment
- Is-it-right-for-me moment
- Can-I-afford-it moment
- Where-should-I-buy-it moment
- Am-I-getting-a-deal moment
The “Can-I-afford-it” moment
With so many tools at the consumers disposal, it’s easier than ever to find cars you like. Whether thats at the dealer across the road, or half-way across the country, it’s never been easier to fall in love with a vehicle that you “simply must have”! The next logical step in this car buying journey becomes “Can I afford it?”. According to Google, search interest regarding vehicle prices is at the highest level ever, having grown 25% the last year, 70% of that being fueled by mobile.
For many shoppers, the value of their current car is just as important as the price of the new one. Search interest in trade-in value was at record levels this summer—up 17% in July. https://www.thinkwithgoogle.com/articles/five-auto-shopping-moments-every-brand-must-own.html
And here’s the interesting find from Google. The value of the car buyers current vehicle is just as important as the price of the new one. Google says that search interest in trade-in values was at record levels (Summer, 2015) and that they’re seeing more trade-in interest than during the 2009 Cash for Clunkers push!
And, importantly, more than 50% of those searches were on mobile.
At dealerIQ we worked carefully to capture the essence of this critical “Can-I-afford-it” moment by offering online car buyers exactly what they need at this step of the journey: The ability to value their current trade, and an affordability calculator based on their credit score and equity on their trade. And of course, mobile friendly. This careful orchestration of features to match the ‘moment’ drives maximum lead conversion and maximum stickiness to your site as your work to have your brand own these important auto shopping moments.