Q1, 2024 Data Report: Merchandising Application with WheelsTV Integration
by Chris King WheelsTV
Introduction
WheelsTV 's automotive video test drive solution has demonstrated significant value to auto dealers and shoppers. This report highlights an anonymized client of WheelsTV, showcasing how they have integrated WheelsTV model video test drives into their merchandising application, which is widely deployed across their dealer partners. The data collected reveals compelling insights into how our on-the-road model video test drive product enhances the overall value proposition of their merchandising solution.
Initial Deployment
The client initially conducted a test of our model videos with a sample of their existing client base, starting with 500 dealers, to evaluate their efficacy and value within the application. This pilot phase focused on key metrics such as hours watched, number of views, and usage across different model years.
Pilot Yields Positive Results
Initial deployment yielded strong positive results in three key metrics :
↗ High Engagement and Views : Significant number of views, indicating high initial interest. ↗ Significant Watch Time : Substantial hours watched, reflecting sustained engagement within the application. ↗ Usage Across Model Years : Consistent usage across a range of model years, from 2008 to present, indicating strong interest in pre-owned model videos within the application.
Expanded Rollout Across Client's Dealership Network
Based on these positive results, the deployment was expanded to the client's dealer base (in the range of 2,000 + dealers). This expansion underscores the value and effectiveness of our model video test drives in enhancing shopper engagement and supporting auto dealers in increasing sales.
Q1, 2024 Key Data Points Data reflects full implementation of WheelsTV High Engagement and Views
Total Video Views:
238,459 views in Q1 2024
Monthly Breakdown
74,000 76,000 78,000 80,000 82,000
Feb-24
Mar-24
Apr-24
77,742 views
78,990 views
81,727 views
Significant Watch Time in Application Q1, 2024 Key Data Points Data reflects full implementation of WheelsTV
Total Watch Time:
4,762 hours in Q1 2024
Monthly Breakdown
1,500 1,550 1,600 1,650
Feb-24
Mar-24
Apr-24
1,552 hours
1,585 hours
1,625 hours
Analysis: Consistent Growth in Views and Engagement
There was a noticeable increase in views and engagement month over month in Q1 2024, indicating growing interest in and relevance to the videos. Engagement with Pre-owned Vehicle Model Videos
Views for model years 2011-2014 19,145 views
Views for model years 2008-2010 4,548 views These numbers demonstrate that pre-owned vehicle shoppers are significantly interested in and engaged with the matching year/make/model videos.
Relevance to the Current Market
According to GM Authority, the average age of vehicles on the road today is approximately 12.5 years, indicating a significant number of vehicles from around 2012. This aligns with the high engagement observed in the 2011–2014 model video year range. The data underscores the importance of maintaining a comprehensive library in the application that includes older model years, not just new models, to cater to a significant portion of the car-buying audience.
The Importance of Views and Watch Time in Application
Two critical metrics stand out among the collected data: the number of views and the total hours watched. These metrics are not just indicative of engagement but also serve as direct indicators of the value our model video test drives add to the client. Number of Views : The substantial number of views highlights vehicle shoppers' initial interest and engagement. Each view represents a shopper interacting with the client's application, indicating their interest in the vehicle. Total Hours Watched : The total hours of watch time is a more profound metric, reflecting sustained engagement and interest. When shoppers spend significant time watching our model video test drives, it indicates a deeper level of involvement and consideration of the vehicle.
Correlation Between Time in Application and Value
There is a direct correlation between the amount of time spent within the Application and the overall value proposition to auto dealers. The more time a shopper spends engaging with the various assets of the Application, particularly our model video test drives, the more value is perceived in the Application itself. This increased engagement leads to several key benefits: ↗ Enhanced Shopper Experience : Shoppers are more informed and engaged, leading to better decision-making and satisfaction. ↗ Increased Dealer Value: Auto dealers benefit from higher engagement rates, as shoppers who spend more time within the Application are more likely to proceed with a purchase. ↗ Higher Sales Conversion: There is a proven correlation between the time shoppers spend in the Application and the number of vehicles sold. More time spent equals more informed decisions, leading to higher sales conversions. Our model video test drives significantly contribute to this engagement, making them a pivotal component of our client's Application. By demonstrating that shoppers spend substantial time watching the model videos, we can effectively illustrate the added value to the dealers and shoppers.
Boost Dealer Sales, Minimize Churn, and Enhance Shopper Engagement with WheelsTV Integration
The Q1 data from WheelsTV's client Application clearly shows that our model video test drive solution is a critical asset. Here's how integrating our videos can address pain points and elevate your Application:
Enhanced User Engagement High view counts and significant watch time (in the thousands of hours) demonstrate that shoppers are deeply engaged with our content within the Application. This increased engagement directly correlates with higher sales conversions for the dealer.
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Competitive Edge By incorporating our extensive library of 7,300 videos, your Application will stand out in the marketplace, offering a unique, distinguished product that no competitor can match.
Increased Dealer Value Your dealer partners will benefit from having high-quality, informative videos for almost every car in their inventory. This will enhance the application's performance and provide shoppers with valuable content that aids in decision-making.
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Future-Proof Solution As the automotive market evolves, our solution continues to demonstrate its value. Dealers can reach a broader audience and drive sales across all vehicle ages, ensuring sustained success.
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Proven Impact Positive feedback from vehicle shoppers like Jeff Walker and Jack Stanford (included in this report) underscores the emotional connection and convenience our videos offer, driving them to purchase.
CONCLUSION
The data from the Application views of WheelsTV videos clearly shows that our model video test drive solution is a critical asset within the Application. The high number of views and significant watch time (in the thousands of hours) directly correlate with increased shopper engagement and higher sales conversions. This compelling evidence can be leveraged to showcase the value our product adds, ultimately helping our client to enhance their value proposition to auto dealers and attract more clients. By providing visual and engaging content we enhance the overall shopper experience, leading to better-informed decision making and higher sales conversions. The positive feedback from customers like Jeff Walker and Jack Stanford (below) highlights the emotional connection and convenience that our videos bring, further validating the importance of our extensive video library. As the automotive market evolves, our solution continues to prove its value, helping dealers reach a broader audience and drive sales across all vehicle ages. Thank you for considering our automotive video test drive solution. We look forward to the opportunity to work with you and help drive your success.
Application User Testimonials
Real Feedback from Car Shoppers viewing WheelsTV Video Test Drives within the client’s Application
Jeff Walker Miami, Florida | Mercedes Dealership
My sales associate sent me all the info on the car. In it, there was a video test drive. I checked out the original window sticker, the Carfax report, and the service report—all really informative stuff. But what really caught my attention was the video of the car on the road. Seeing it in motion just connected me to the vehicle in a way I didn't expect. I dove deeper into the car's history, and after watching that video, I felt this surprising connection to it!
Jack Stanford Los Angeles, California | BMW Dealership
You know, there's so much information to uncover about a car—it's a lot of work and effort. What I love about this is that everything's in one place. But what stood out to me was the video test drive. I watched it several times while reviewing different parts of the car's history. It was incredibly useful and saved me from having to keep searching for videos on YouTube, which I do almost every single day. Very helpful, highly recommend.
Elevate Dealer Sales with On-the-Road Automotive Videos Integrated into Your Merchandising Platform
www.wheelstv.net 978-264-4333 Chris@wheelstv.net
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