Big data, predictive analytics and machine learning are common topics that have risen within the digital marketing space and are rapidly gaining traction from many industries due to the opportunities it provides.
The automotive sector is no exception to the widespread phenomenon, gather real-time consumer data from sources such as social media, web, previous transactions and more. In fact, the applications associated with data and analytics in the automotive industry are huge for online marketing services, as it can be used to transform the consumer experience through personalised products and services. Therefore, it is no surprise the industry has collectively invested $2.8 billion into big data this year in order to drive value for the consumer.
Evidently, thanks to the adoption of online mediums, the consumer path to purchase has fundamentally changed in recent years. In fact, the consumer journey has become heavily reliant on digital, with some studies suggesting that two-thirds of consumers visit only one car dealership before committing to the high ticket purchase.
The path to purchase has also significantly decreased as a result of digital platforms, with consumers taking only 2-3 months to make a decision with 70% of their consideration and research being conducted online. However, while the journey may be shorter as a result of online mediums, these platforms actually provide automotive marketers with exceptional insights.
Originally published at - RGC Advertising: Digital Marketing Agency Sydney
