Due to the massive amount of user generated content these days, advertisers find themselves playing second fiddle in influencing consumer purchases. The car business has especially been impacted by this new trend. They have been accustomed to putting on a dog and pony show in-order to lure consumers into their dealerships. However, the dog is tried and the pony has been shot!
Today, nearly 75% of consumers cite word-of-mouth recommendations as the most influential factor in their car-buying decisions. Bill Stephenson, VP at Nielsen BuzzMetrics has been quoted as saying “Car shoppers seek out the opinions of other consumers who have relevant experience”. And according to Competeinc’s Marketing Director, Cynthia Stephens ” Consumers find the opinions of other consumers, not brands or advertising, valuable in helping them narrow their decisions”.
Word-of-mouth has always existed, however technology has allowed it to explode. Consumers not only have the ability to receive the opinions of friends and family, but now they can receive the opinion of every consumer. This old fashion word-of-mouth meeting technology has put car dealerships in a position of accountability.
However, this could benefit dealerships, as well as, the consumer. Dealerships are able to honesty assess themselves through the eyes of the consumer. Dishonest dealerships will be identified, therefore allowing trustworthy dealerships to separate themselves from the bad and ugly.
Consumers benefit by reducing the chance of being victimized by fraud, purchasing a vehicle in a low sales pressure environment, reducing the time spent purchasing a car and increasing the chance of significant savings.
Please visit our website www.MyDealerReport.com and discover which car dealer has been naughty or nice.