Home is Where the Money Is

By Tim James

As we head into 2022, a dramatic shift has occurred in online consumer shopping behavior, according to an article in Forbes. While online shopping was growing, COVID hit, forcing an increasing number of consumers to do their shopping online. Shoppers started buying more than books, but necessities such as groceries, household goods (remember the toilet paper shortage), pet supplies, and more.

Due to the pandemic, for most everything a consumer needed, they looked online – and businesses had to adapt. Even big-time movie production companies changed strategies to online content. As consumers were so worried about being around others and as restrictions were in place, Warner Bros. teamed up with HBO to deliver first-run movies on HBOMaxx the same day as the official theatre release.

Another example is real estate. The most expensive purchase most consumers make in their lifetime. Due to Covid, people didn’t feel comfortable visiting multiple properties in person — so what happened? Real Estate Agents adopted video walkthroughs, drone footage, and more!

Let’s now talk about the second most expensive purchase that consumers make in their lives — vehicles. Videos are extremely valuable in the car-buying process. What do industry disrupters that operate completely online do? They use video to make the emotional attachment that is missing when a consumer can’t visit their lot! Through an aggregate of data on our platform, we’ve seen a huge spike in video usage by dealerships as well as a marked increase in consumer consumption. It’s convenient. It can be done remotely. It inspires significantly more emotion than photos alone, and consumers don’t have to visit multiple dealerships to buy a vehicle.

To create a great video experience that builds emotion in your shoppers it is important to include personalized videos to the customer as part of your video strategy. These can include “Why Buy from Us”, “Why Buy from Me”, or service-related videos. Selling yourself and your dealership along with your vehicle in your video presentations can build a solid trust relationship just as it does when the consumer is on your lot. People buy from people they like and a majority of all online auto shoppers are looking for a salesperson and a dealership they can trust – just as much as a vehicle to purchase. Use your vehicle video presentations as an opportunity to build that personal relationship as well. 

Next, focus on the data. Having the data necessary to continue interaction with a customer is imperative. The data you get from your online videos can continue engagement while informing your dealership that a customer is interested. Think about when an email is sent by a salesperson or BDC agent. Most are never responded to and in many dealerships, it is almost impossible to know if the customer has read those emails or not. If your dealership is using video in an attempt to engage customers and hosting them on sites that don’t provide individual viewer data, such as YouTube, the same result occurs. You’re shooting in the dark and don’t know if you’re hitting the target.

Consumers are getting more comfortable shopping from home, online. Escrow services are even paying notaries to travel to a customer’s house to get the paperwork signed to finalize the sale. Many dealerships are also offering this type of service. There are several ways to “complete” a sale nowadays, especially with the new digital retailing technologies now available.

That being said, no house can be sold, no car can be sold, nor any other high-ticket item, without the consumer being confident in their choice. They also need an emotional attachment to their planned purchase. Even comparatively low-priced items on Amazon have video descriptions and/or reviews and information about the product.

In 2022, resolve to incorporate more video into your marketing strategy and ensure you are hosting on a platform that provides actionable data from those videos. Then you can create a game plan not just for the dealership, but for each prospective buyer.

To your success in 2022 and beyond!

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