AutoTrader.ca announced the results of a comprehensive study that underscores the unique value it brings to automotive dealerships in driving vehicle sales.
The study, conducted in collaboration with Clarivoy, a leader in identity-based targeting and measurement for automotive marketers, focused on understanding the impact of various marketing channels on vehicle sales within the Canadian automotive landscape.
A sample of 2,223 vehicle sales from 2022 to 2023 formed the basis of this study. The findings revealed a compelling narrative; AutoTrader played a pivotal role in influencing 60% (+/-2%) of these vehicle sales. In comparison, Google paid ads, encompassing search ads and vehicle listing ads, contributed to 6% (+/-2%) of vehicle sales.
Of note is the intriguing pattern discovered within the 6% of sales influenced by Google paid ads. Remarkably, within this subset, an even more compelling trend emerges; 70% of these consumers had also visited AutoTrader.ca at some point during their purchasing journey.
“Further underscoring AutoTrader’s role, among these consumers, this study found that a significant 55% initiated their journey with AutoTrader.ca first and subsequently engaged with Google paid ads before arriving at their purchase decision,” said Mike Kilinski, Vice President Product, Data & Analytics at AutoTrader.ca. “This intricate consumer pathway highlights AutoTrader’s instrumental position in guiding consumers towards their decision.”
Credibility of study
The credibility of this study is fortified by Clarivoy, a respected third-party data analysis partner. Employing a meticulous multi-channel attribution technique, the study ensures a comprehensive evaluation of marketing influences.
Intriguingly, a similar study conducted in the USA with more vehicles in the comparative set due to market size revealed a comparable trend.
“The study serves as a valuable resource for dealers, shedding light on the nuanced dynamics of consumer decision-making in the automotive sector. While Google Paid ads may suit certain scenarios, AutoTrader’s unique influence shines in environments where extensive consumer journeys and meticulous cross-shopping are integral to the purchasing process,” said Ian MacDonald, Chief Marketing Officer at AutoTrader.ca.
The study’s results are a testament to AutoTrader’s genuine dedication to elevating dealers’ business growth by providing a clear perspective on consumer behaviour and preferences.