New research suggests Pinterest and Snapchat could be key platforms for marketers looking to target auto buyers, which serves as a helpful reminder to never limit your brand’s reach to just one specific audience.
Pinterest Proves Its Reliability For Car Shoppers
While Pinterest is widely known among its 300 million active users as the go-to spot for shopping, recipes and style inspiration, the social platform is actively trying to expand its user base in an attempt to compete with industry trailblazers like Facebook and Instagram. And, according to a new study by Oracle Data Cloud, Pinterest may have done just that. Research shows Pinterest is now used as a reliable site for discovering new vehicles and is widely considered influential over consumers looking to purchase a new car. Oracle's report also found over 7 million people on Pinterest regularly engage with car-related content, and Pinterest currently reaches half of U.S. adults planning to purchase a vehicle within the coming six months.
The numbers don’t lie:
- Pinterest users are 28% more likely to buy new cars within 90 days of release.
- More than 6 million people absorb auto-related content via Pinterest.
- Pinterest users are 31% more likely than non-Pinterest users to purchase a new SUV after a new release, and 13% more likely to purchase a new truck model after a new release.
- 57% of Pinterest users who pin about auto-related topics every week use the social site to find auto-related products when searching for a new car purchase.
- 62% of Pinners made vehicle purchases based on the content they viewed from car brands on Pinterest.
Still not convinced? Toyota’s recent campaign featuring the new Avalon sedan is further proof that Pinterest is changing the way it’s perceived among the automotive industry. Following Toyota’s campaign launch, the car manufacturer reported 53% of Pinterest users who began watching the ad ended up viewing it in its entirety.
Snapchat Highlights Automotive Trends Among Users
As with most trends, similar brands have followed suit by also digging into the relationship between their users and the automotive industry. In this case, Snapchat was the next social media giant to take a closer look into the potential for automotive marketers on its platform.
The latest report published by Snapchat looks at auto buying and browsing trends among Snapchat users, with the hopes of helping car brands take advantage of the social platform when reaching interested buyers. Something for marketers to keep in mind: Snapchat's core audience, which consists of 13 to 34 year olds, currently makes up 32% of new car registrations in the U.S.
According to Snapchat’s findings, its users are more likely to take a hands-on approach in the car buying process, meaning they will take more test drives, and are more likely to visit multiple dealerships and consider a broader set of auto brands compared to non-Snapchat users. Further insight tapped into Snapchat’s location tracking capabilities in order to determine which car dealerships users are visiting most often across the U.S.
Snapchat found Ford, Chevrolet and Toyota were the top three dealerships when it came to its users’ foot traffic. Lower on the scale – but still among the top ten car brands – were Kia, Dodge and Volkswagen.
Opening New Doors For Digital Automotive Marketers
Snapchat and Pinterest are among several social platforms spotlighting their increased influence on the automotive industry. According to Facebook, more than half of people aged 13 to 34 discover car-related content within Facebook's apps, while 60% of car shoppers admit to using Instagram throughout their buying process. By promoting these positive results, social sites are becoming increasingly attractive to auto marketers, as they are opening up doors for brands to reach new audiences they may not have thought to target before. Big-name car companies won’t be disappointed when they tap into these social platforms either, as 78% of shoppers looking to purchase a new vehicle stated social media content is useful in the car-buying process. Today’s shopper spends 61% of all their shopping activity researching online, and 59% of them are open to considering multiple vehicles in their journey.
According to eMarketer, digital spend throughout the automotive industry is expected to reach $15.9 billion this year, and $18 billion by 2020, proving auto marketers have recognized the increased visibility that can be gained from utilizing digital platforms for auto discovery. While there’s no clear answer as to which social platform is best for auto-targeting – as it widely depends on the brand, car model and target audience – it’s clear these recent reports from brands like Pinterest and Snapchat are giving automotive marketers the tools and insight needed to effectively reach a new set of buyers.
For more information from DMS Insights about automotive marketing, check out the below articles: