Top 5 reasons to buy a new car online

Consumer shopping behaviour is shifting into an online environment and so do many industries to keep up with the customer´s needs and wants, including the car industry. DVJ Insights conducted research for Meinauto.de to discover what are the main differences in motivators between online and offline car purchases.

One of the five key selling points leading to online purchases was price transparency and the professional advice provided. In the study, six different online car-buyer segments were defined that could be matched with Meinauto.de´s potential buyers.

CLIENT´S CHALLENGE

The car industry is very traditional, with many brands to choose from and showrooms to visit. A showroom allows you to see the car up close, take a test drive, and eventually decide whether or not this is a car for you. Meinauto.de decided to move the entire purchase process of a new car to the online sales channel. As this is quite a significant move to make in this industry, Meinauto.de wanted to gain a better knowledge and understanding of the needs of private consumers that are willing to buy a new car online. Meinauto.de also needed to gain insights as to why some customers are still reluctant to do so in order to be able to overcome any existing barriers. Some examples of questions raised were: What are the wishes and demands when someone is (potentially) buying a new car online? What are the characteristics of online prospects? What will increase conversion among website visitors who have shown interest in an online car purchase? These are some reasons why Meinauto.de approached DVJ Insights.

THE APPROACH

Together we developed a holistic research setup infused with different elements from our MassQual suite of techniques. Due to the nature of our client’s questions, we wanted to support our research with the use of qual techniques. In addition, validation was also secured in order to be able to make data-driven decisions. Thankfully, our MassQual suite is extremely powerful when it comes to answering questions such as: What are the different types of customers who (potentially) buy a car online? What are the drivers and barriers to buying a car online at different stages of the buying journey? Answers to these questions have empowered Meinauto.de to understand its (potential) customers, enabling them to convert customers into buyers and help grow its businesses.

The study was conducted using more than 3.000 Germans who visited Meinauto.de’s website, requested an offer for one or more models, or purchased a car in the online shop. All participants in the study were very familiar with the online showroom and the services offered.

WHAT WAS LEARNED

Results identified six different online car-buyer segments. These are based on various attitudes, levels of experience, and other aspects when it comes to buying a new car online. One of the segments especially valued the flexibility of car builders and models, whereas another segment was overly interested in electric cars. Meinauto.de gained a clear understanding of the different (potential) buyer segments, what they consist of, and the differences between them. Knowing what each segment values, helps Meinauto.de tailor their advertising and website communication and focus on these highlights in individual communications with prospects. As we carefully profiled each segment in detail, we enabled Meinauto.de to identify and match (potential) buyers with the segments within its database.

When looking at the differences between private consumers who buy a new car offline, and in person, and consumers who buy a new car online at our client’s website, we could define key selling points. The top five reasons to buy a new car online are:

1. 1. 1. The advice the consumer gets
      2. Complete pricing transparency
      3. The best price option found on our client’s website
      4. Trust in the online retailer
      5. The perception of the retailer staff as being authentic

Those who did not purchase online showed a much stronger preference for a test drive, immediate availability of the chosen car, and familiarity with the supplier. This could be derived by asking for free associations and storytelling, based on our MassQual techniques. The newly identified potential drivers and barriers are also useful to our clients as it aims to improve their car and service portfolio and increase the digitalisation of the online purchase process of a new car even more.