Whether you attribute its success to online video platforms – or simply better quality mobile devices, faster internet speeds and more generous data allowances – there is no doubting that video consumption is red hot right now globally. Domestically, 85% of Australians now watch video – making it the nation’s fastest-growing media channel.
And there’s also little doubt that video is influencing auto purchasing to a greater degree than ever before. According to Google, over 75% of US auto shoppers say that online video has influenced their shopping habits or purchases.1
In Australia, the increasing influence of video on car purchasing is best evidenced by a dramatic uplift in carsales video consumption. In September 2019, over 19,300 hours of video were watched on carsales.com.au per month – up a massive 42% YoY.2
Credible and authentic
In a cluttered and complicated environment such as the new car marketplace, buyers move through their purchase journey on carsales in their own unique style, seamlessly shifting between search pages, reading an editorial car review and watching the accompanying video – and vice versa.
The average buyer on carsales views 32 new cars, across 8 different models and 5 different brands, before placing an enquiry on a new car.
To assist buyers in their journeys, over 3,650 Editorial videos are now available to watch on carsales.com.au – with nearly 500 added alone in FY19.
“Buyers in the new car market turn to carsales Editorial reviews to be inspired, to learn more and even validate their choices at the end of their journey. Furthermore, video conveys unparalleled emotion. There is nothing comparable to a trusted expert determining how a car performs through the daily grind, seeing an infotainment or sunroof in action or listening to an engine note,” says Agostino Giramondo, General Manager, New Car and Industry Relations on carsales.
Contextual online marketplaces and the video medium can also be beneficiaries of above the line activity designed to increase awareness of a brand or model, as buyers consider taking a closer look in a familiar and trustworthy online environment.
“Above the line investment by brands will often translate into an uplift in video views on objective environments that consumers know, trust and prefer; like carsales. A prime example of this behaviour was the new Kia Seltos – a brand new nameplate from an established brand in the booming Small SUV category. Video views of the credible and authentic carsales Editorial review of this model exploded after the car was promoted heavily in TV spots,” adds Giramondo.
See, think and do
Buoyed by strong customer engagement, carsales has directed more investment in the capabilities required to deliver a video-rich browsing experience – not only to assist car buyers in making an informed purchase decision, but empower car dealers and brands to achieve their business goals. Hot on the heels of video for dealers publishing their new and used inventory on carsales, comes a new and innovative suite of video solutions for auto brands looking to push the needle in a super-competitive new car Australian marketplace.
The new carsales video suite is made up of In feed video that engages in-market actively browsing cars, In stream video that empowers brands to reach consumers engaging with editorial videos, and Outstream video that delivers incremental reach and awareness.
“Our advantage at carsales is implementing video in a way that is engaging, non-intrusive and valuable to car shoppers,” explains Charles Dangibeaud, Senior Product Manager at carsales.
“Our new suite of video solutions not only empowers brands to reach, engage and influence more Australian car buyers in a contextually relevant and brand safe environment, but to do so in a truly seamless and native way. As a consequence, your investment in video works harder for you on carsales.
“With our new capabilities, we have a suite of cost-effective and flexible solutions that caters for different goals, KPIs and budgets, and that works across key stages of the marketing funnel,” says Dangibeaud.
carsales stories coming soon
An exciting addition to the video suite of carsales solutions is the upcoming release of MyFeed Story. Packing big impact on the gateway to Australia’s largest auto marketplace – the carsales homepage – MyFeed Story empowers auto brands to reach buyers in a ‘snapshot’ and ‘bite-size’ style popularized by social media platforms – and that have become second nature to younger demographics. carsales members will receive personalized MyFeed Story content based on their search behaviour and preferences, while carsales visitors will be exposed to the most popular and trending content on site.
“MyFeed Story is another step in our commitment to adding more intuitive and non-intrusive video that adds value to the buyer’s experience on carsales,” says Dangibeaud.
“These bite-sized content updates are really favoured by time-poor consumers and younger demographics, and have been proven to be successful in cutting through all the noise on social media platform.
“We’re excited to see how auto brands will leverage this new format to drive this style of consumer engagement in a contextual environment, as opposed to the traditional social media setting,” concludes Dangibeaud.
Sources:
1. https://www.thinkwithgoogle.com/data/auto-video-shopping-statistics/
2. carsales internal data, September 2018 – 2019
