Acquiring a car – new or used – is a significant financial decision. In the ever-evolving landscape of the automotive industry, the role of Finance and Insurance (F&I) has become increasingly prominent. In this article, we dive into how savvy brands can unlock the ability to influence consumer decisions at all stages of the buying journey.
The Power of Context
Let’s have a chat about the car buying journey, shall we? It’s not what it used to be. When the carsales team surveyed folks about their behaviours in both the Finance and Insurance sectors, they found that they’re not just contemplating, but actually making decisions about their finance and insurance products at nearly every stage of the sales journey, particularly at the start and the end of the journey. Now, you might be thinking, “That’s great, but how does it help me?” Well, it’s all about harnessing the power context.
Finance & Insurance Cycle
Context helps you reach the right people, at the right time, in the right place, and crucially, in the right mindset. It’s a bit like having a chat with a friend over a cup of tea, rather than shouting at them from across a crowded room. When we consider this from an advertising point of view, context provides an alternative for a cookie-based approach. As our previous research into the power of context indicated, carsales consumers are 50 per cent more likely to engage with an advertisement if it is placed in a context that is relevant to the brand. Additionally, when these advertisements were correctly optimised on the carsales platform they increased active recommendations by 50%. Yep, harnessing context drives people to proactively recommend YOUR brand. What this clearly shows is that you can’t underestimate the environment your ads appear in.
Our data shows that most people prefer to buy insurance from a private company, mainly because they’ve got a good thing going with their current insurer. But here’s the kicker: the majority of them are open to change. That’s a lot of potential customers who could be swayed by the right message, at the right time.
And it’s not just about insurance. When it comes to financing a car purchase, there’s a lot of uncertainty out there. Most buyers aren’t sure how they’ll pay for their car and are open to hearing why financing might be the ticket. Here’s an interesting stat: that golden range for finance providers, from $20k to $60k, is the hot spot for those who are less likely to have sorted their finance yet. And guess what? Over half of our car listings fall right in that range!
Rethinking the Effectiveness of Comparison Sites
We often receive feedback – and the data supports this – that a substantial chunk of marketing dollars are being funnelled into comparison websites, especially within the finance sector. But here is the twist: less than a quarter of carsales customers who are seeking finance and insurance services reported that they would use these sites to compare offers. So, while there is an industry push to target comparison sites, the audience isn’t quite following suit. If your brand is part of the larger portion of the market investing in this channel, it might be time for a strategic rethink, as your dollars could be more effective elsewhere. Remember, it’s not just about where you want your audience to be, but understanding where they actually are, and for now, that’s not always on comparison websites.
A Window of Opportunity
At carsales mediahouse, we’re not just a platform for ads; we’re a hub of insights, constantly capturing data and keeping up with the latest trends. We have a contextually relevant environment and a first-party targeting strategy. We allow savvy brands and businesses the ability to reach their intended audience without having to rely on third-party cookies or scale to secure in-house first-party data. By understanding the consumer buying journey and tapping into our insights, you can reach your audience in a more meaningful way.
By weighting your strategy where they spend the most time across the funnel, you can make sure you’re there at the right time, every time. Here’s the cool part – we’re not just casting a wide net. We’re zoning in on the right audience throughout their entire car-buying journey. From the first thought of a new car to the handshake on the deal, we’re there. We’re helping automotive and finance brands connect with customers by simplifying the process and providing punchy, easy-to-understand options that fit today’s buyer.
So, what do you say? Fancy a chat about how we can help you navigate this ever-changing landscape? We’re always here, ready to talk shop and help you make the most of your marketing strategy. After all, in this game, context isn’t just king, it’s pure gold.
Rethinking the Effectiveness of Comparison Sites
We often receive feedback – and the data supports this – that a substantial chunk of marketing dollars are being funnelled into comparison websites, especially within the finance sector. But here is the twist: less than a quarter of carsales customers who are seeking finance and insurance services reported that they would use these sites to compare offers. So, while there is an industry push to target comparison sites, the audience isn’t quite following suit. If your brand is part of the larger portion of the market investing in this channel, it might be time for a strategic rethink, as your dollars could be more effective elsewhere. Remember, it’s not just about where you want your audience to be, but understanding where they actually are, and for now, that’s not always on comparison websites.
A Window of Opportunity
At carsales mediahouse, we’re not just a platform for ads; we’re a hub of insights, constantly capturing data and keeping up with the latest trends. We have a contextually relevant environment and a first-party targeting strategy. We allow savvy brands and businesses the ability to reach their intended audience without having to rely on third-party cookies or scale to secure in-house first-party data. By understanding the consumer buying journey and tapping into our insights, you can reach your audience in a more meaningful way.
By weighting your strategy where they spend the most time across the funnel, you can make sure you’re there at the right time, every time. Here’s the cool part – we’re not just casting a wide net. We’re zoning in on the right audience throughout their entire car-buying journey. From the first thought of a new car to the handshake on the deal, we’re there. We’re helping automotive and finance brands connect with customers by simplifying the process and providing punchy, easy-to-understand options that fit today’s buyer.
So, what do you say? Fancy a chat about how we can help you navigate this ever-changing landscape? We’re always here, ready to talk shop and help you make the most of your marketing strategy. After all, in this game, context isn’t just king, it’s pure gold.