The Video Economy is Shaping the Future of Car Shopping
If you have been in the automotive marketing business for some time, you have undoubtedly heard the phrases, “video is up and coming” or “video is on the rise.”
But here is a new reality — these phrases are no longer true.
Today video plays a dominant role in how people discover, research and make a purchase decision. We now live in a video marketplace where these outdated cliches are no longer relevant. We are calling it the “Video Economy.” What does this shift to video dominance mean for you as an automotive marketer? It means if you are not using video in your merchandising and communication channels, you’re already behind. And even if you feel like you are covered with traditional standbys like VIN-specific photos, 360 spins, live walk- around videos (each of which play a key role in the decision- making process), your shoppers will not be satisfied with that anymore. It’s time to go further. But first, it’s worth looking back at how we got to this Video Economy and how expectations for video are not currently being met in today’s car shopping experience. Think about how shoppers interact with social media and shopping sites today. Take, for example, Facebook and Twitter, two early platforms that did not originate as mainly visual. They transitioned their focus to emphasize the prominence and importance of video, to where today, video dominates these platforms.
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