NEW YORK, October 3, 2007 – Millions of consumers go online daily to talk about and research cars prior to making a purchase. In fact, online buzz for transaction pricing and incentives across automotive discussion forums is up 40% since January 2007, according to Nielsen BuzzMetrics, the global measurement standard in consumer-generated media (CGM).
“Shoppers are going online to learn what other buyers have paid for the car they are interested in,” said Bill Stephenson, VP and Practice Lead, Automotive, for Nielsen BuzzMetrics, a service of the Nielsen Company. “This trend is driving transparency among automakers and dealers because now, all of a sudden, shoppers are privy to the best deals that others received.”
Stephenson added: “In order for the manufacturer to protect the integrity of the brand and the dealer to make the sale, both must understand that shoppers are seeking the advice of recent car buyers and these ‘CGM-informed’ shoppers expect full transparency when it comes to vehicle pricing.”
According to Nielsen BuzzMetrics, car shoppers actively seek out blogs, message boards and other online platforms for first-person commentary on new or used vehicles prior to stepping foot inside an auto dealership. Even shoppers not specifically seeking owner reviews frequently encounter first-person commentary when they use search engines to find vehicle information. In addition, CGM has become a trusted resource for consumers throughout the entire automotive life cycle – from concept testing all the way through customer service and loyalty.
To better understand sentiment toward automotive dealer incentive programs, Nielsen BuzzMetrics applied a Brand Association Map (BAM), which plots how consumers naturally think and talk about brands across billions of unaided conversations online. Based on over 33 million messages posted to 457 automotive CGM sites from January 1 through September 10, 2007, the BAM reveals that:
- Shoppers actively discuss current automotive dealer and manufacturer incentive programs available to them.
- Full-size trucks are referenced most often in relation to incentives during this period, fueled by the introduction of the Toyota Tundra.
- Consumers frequently reference Edmunds.com when seeking vehicle pricing and incentives, reflecting shared dealer experiences among peers.
Brand Association Map: Central Topic “Incentives”
(Sample: active auto bloggers; time Period: January 1, 2007 – September 10, 2007)
The Brand Association Map (BAM) uses advanced text-mining algorithms to plot the most important language, attributes, issues and themes about a brand in concentric circles, derived from consumer expression in blogs, boards, ratings sites and other forms of consumer-generated media (CGM). With the brand represented in the bull’s eye, the resulting visualization empowers marketers to quickly grasp how brand identity, reputation and equity mesh with core assumptions.
Nielsen BuzzMetrics Auto Webinar
To learn more about how word-of-mouth sells cars, please join Nielsen BuzzMetrics for its next Webcast entitled “Online Word of Mouth Sells Cars! Now What? Nielsen BuzzMetrics and Forrester Research Weigh-in”, scheduled for Friday, October 5, 2007. To register and learn about additional educational modules, please visit http://nielsenbuzzmetrics.com/webinars
New BuzzMetrics Automotive Case Study
Download Nielsen BuzzMetrics latest automotive case study here to learn how consumer-generated media impacts the automotive industry.
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Nielsen Online, a service of The Nielsen Company, delivers comprehensive, independent measurement and analysis of online audiences, advertising, video, consumer-generated media, word of mouth, commerce and consumer behavior, and includes products previously marketed under the Nielsen//NetRatings and Nielsen BuzzMetrics brands. With high quality, technology-driven products and services, Nielsen Online enables clients to make informed business decisions regarding their Internet, digital and marketing strategies. For more information, please visit www.nielsen-online.com.
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