First-Time Car Buyers Prefer Online over Traditional Media
According to a study released today by the Polk Center for Automotive Studies, traditional mass media is taking another hit from the online space — this time in the car market.
Of the 366 18-30-year old respondents in the survey- conducted in early November - 35% of first-time vehicle buyers consider the Internet to be their most important informational tool, compared to 8.2 percent for television, 4.4 percent for magazines, 3.6 percent for newspapers and 1.1 percent for radio.
“First-time buyers’ dependence on Web-based media validates the need for an aggressive interactive strategy to court them on the manufacturer and retail level,” said Lonnie Miller, managing director for the Polk Center for Automotive Studies, in a statement. “The Internet’s relevance in the 18-30 year age group has reached critical mass and is completely reconfiguring how car companies need to reach out to first-time buyers.”
Miller also predicts that emerging technologies such as radio podcasts and video-on-demand will create new marketing opportunities as increased bandwidth creates a convergence of cell phones, PDAs, Internet and broadcast tools — all necessities for Generation Y.
“Harnessing mobile media technology will be the automotive industry’s most important marketing challenge — and opportunity — in the next decade,” Miller adds. “Generation Y is tuning out traditional advertising, and watching what they want, when they want. Creating breakthrough content and developing relationships with customers through emerging media technologies will separate the winners from the losers in the next five years.”
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