In today’s auto industry, competition is fierce as automakers and dealerships race for market share. Consumer confidence is high, and fuel prices are expected to remain low. Further, digital ad spending is forecasted to reach $8.4 billion in 2016.
With 87 million automotive searches, advertising on one search engine is no longer an option. comScore estimates that 17 million automotive searchers are not reached on Google; more importantly, 41% of all paid automotive clicks occur on the Bing Network.
What are people searching for and what drives those clicks? Bing Ads looked at a sample of 3,000 consumers who were in the market to buy a car. The average automotive consumer decision journey lasted 96.3 days, and buyers considered an average of 9.8 makes and 11.4 models during the process. You can take this opportunity and use Remarketing in Paid Search to target previous website visitors and get a second chance at conversion.
We also found that 20% of automotive page views are on search engines and that consumers searched images for every four out of 10 searches. Adding Image Extensions to your ad can help get you noticed by these searchers.
Next, we analyzed historical Bing Network query volumes. Last year, Toyota and Ford were the most searched for non-luxury makes and Toyota Tacoma was the most-searched model. Mercedes and BMW ranked highest in luxury makes., Brand term bidding is key here, especially for dealerships. This tactic will help you capture more clicks, while keeping competitors at bay. Dealerships and other advertisers can use brand term bidding to complement their organic SEO efforts.
Most interesting perhaps, we found that 45% of all queries for non-luxury models are for the SUV segment, although they represent a third of new vehicle sales., Other segments where search volume tops sales are trucks and minivans., Expect this trend to continue if gas prices remain low. Capture searcher attention by highlighting these segments and your most-popular models in your Enhanced Sitelinks. This extension can help you achieve 22% average higher click-through rate by directing searchers to specific pages on your website.
Get more details by viewing our infographic, "Connecting You with Automotive Shoppers." For other tips and trends, check out our featured industry and seasonal insights on the Bing Ads blog.