The Crowdtap study polled community members who self-identified as “car buyers,” defined as those who were looking to purchase a vehicle within the next year, or who have purchased a vehicle in the past year. The data shows that car buyers are increasingly relying on peer reviews and social media – above traditional advertising and professional review sources – when it comes to researching and learning about car brands and models.
Key findings include:
Auto buyers are relying on social media to inform their purchase
- 68% said they have purchased a car they found on social media.
- 87% said they research potential car purchases on social media prior to making a decision.
- 80% of auto buyers said they are more likely to turn to their social network for car buying advice than a car salesperson.
- Auto buyers are likely to take to social media to talk about cars: 95% said they would post about a great model or maker on social media.
Auto buyers value the recommendations of friends and family members
more than any other source.
- 36% cited friend or family recommendations as the single most influential source on car services, followed by online review sites (19%) and social media (16%).
“Media-empowered consumers – who increasingly rely on the opinions of their peers to inform buying decisions – are flipping the automotive advertising model on its head,” said Matthew Scott, SVP of Strategy & Business Development at Crowdtap. “Auto brands that are able to steer the power of peer endorsements and social sharing will find success in marketing’s people-powered future.”
Crowdtap, one of the top five fastest-growing marketing companies in this year’s Inc. 500, leverages its engaged member community and proprietary technology platform to help brands put real people at the center of all stages of their marketing, from insights and innovation efforts to content creation and media distribution.
Crowdtap’s survey of 500 car buyers was conducted in February 2015. Full study findings can be found here.
Crowdtap, the People-Powered Marketing Platform, is a new operating system for brands powered by the people who love them. Our platform makes it easy for brands to put consumers at the heart of their marketing to drive product ideation, inform marketing strategy and create authentic content that fuels earned media.
In 2014, Crowdtap was named one of the 100 Most Promising Companies in America by Forbes and the No. 54 fastest-growing private company in the Inc. 500 List. The company has been ranked as the No. 3 Best Place to Work in New York by Crain’s, and the No. 6 Best Tech Company to Work For by Mashable.
With a growing community of passionate members, Crowdtap works with leading brands including General Mills, Heineken, Kraft Foods, P&G, Verizon, Walmart and Yum Brands.
Headquartered in New York, Crowdtap has raised $15 million through the Foundry Group, Tribeca Venture Partners, Alta Communications and The Mustang Group.
Visit corp.crowdtap.com for more information.