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Are Prospective Car Buyers Your Digital Goldmine? New IAB Study Points To Broader Appeal Beyond Dealers
Young, ethnically diverse, high earners who are more digitally savvy and responsive to online advertising than the general population? Sounds like a digital marketer’s dream audience target.
New research from the IAB and Prosper Insight on Auto Intenders — adults ages 18+ who are planning to buy or lease a car or truck within the next 6 months — is clearly aimed at auto manufacturers and dealers, yet this consumer segment could have broader appeal to a range of consumer marketers.
For example, nearly all auto intenders (96 percent) research products online before purchasing, and they are more likely to be influenced by online ads than the general population across a range of retail categories from electronics, telecom services and home improvement.
According to the study, 14 percent of US adults are planning to buy an automobile within the next six months. Nearly half (49 percent) of auto intenders are between the ages of 18 and 35 with median annual household incomes of $63,006 compared to $54,662 of general respondents. Over half are married with children (54 percent), 11 percent are business owners and one-in-five are in a professional or managerial role.
They are more mobile-ready, as well. Three quarters of auto intenders own a smartphone compared to 54 percent of the general population, and 42 percent own a tablet versus just 33 percent. This audience is also more likely to stream video online and via mobile devices; and, 66 percent of auto intenders say they watch pre-roll video ads compared to 53 percent of the general population.
Not surprisingly, this audience also benchmarks higher in participating in general online activities. While online shopping is the number one activity among all respondents, 59 percent of auto intenders regularly shop online compared to 51 percent of the general population.
Also interesting is their perspective on the economy. Over half (56 percent) of those planning to buy or lease a car feel confident about a strong economy during the next six months, versus just 36 percent of the general population.
The IAB Digital Influence on Auto Intenders report comes from the Propser Insights & Analytics Monthly Consumer Study from November 2013 which surveyed online a total of 6,201 respondents, which included Auto Intenders, and the annual Media Behaviors & Influence study of 19,774 online survey respondents.