Consumer Decision Journey: Premium/Luxury Auto. Global Consumer Insights

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1 Consumer Decision Journey: Premium/Luxury Auto Global Consumer Insights

2 1 Awareness 2 Consideration 3 Preference 4 Action 5 Loyalty

3 Globally, 68% of consumers say the internet is an important influence when buying a new car In the US, 79% use the internet to conduct auto research Source: Nielsen Global Survey of New Product Purchase Sentiment: 29,000 consumers, 58 countries, 2. IAB and Prosper Insights, Digital Influence on Auto Intenders, January

4 Open to possibility Experiencing Decision to Change Shopping Evaluating Consumer Decision Journey

5 United States Germany Russia Phase 1 Phase 2 Qualitative Online diaries In-person gamified interviews Consumers mapped their journey, who they spoke with, media touchpoints used, pain points, Quantitative IPSOS 500 respondents per market Bought car in last 12 months or planning to in next 12 Bought/leased - $40k+/ 30K+ Tapestry 600 respondents per market Bought in last 12 months or planning to buy in next 3 years Bought/leased - $40k+/ 30K+

6 Premium QUALITY BUT ATTAINABLE Upscale Useful Features Modern Tech Practical Reliable Justified These items are usually priced a little higher, but you get more. Better quality, better amenities, better level of service. - Ira, USA Luxury COMFORT & EXPERIENCE Service Personalisation Stylish Aspirational Freedom Scarce Not practical (sometimes) People just treat you differently, and I think that s what you re paying for when you buy luxury products - Christina, USA Source: Microsoft CDJ Premium/Luxury Autos, IPSOS

7 The Buyer Profile United States Germany Russia 50% 63% 74% of annual income of annual income of annual income Would refresh their car within four years 4/10 6/10 7/10 Source: Microsoft CDJ Premium/Luxury Autos, IPSOS

8 Setting the scales Means - + Financial means remain relatively fixed making it a factual decision. A dynamic factor: Views on premium/luxury vehicles depends on life stage & self-perception. Premium Luxury Self Image An evolving scale relevant to your life stage. Self-perception plays a major contributory role. Premium Luxury Brand Source: Microsoft CDJ Premium/Luxury Autos, IPSOS Car brands are generally well known & have well-defined images. Brands can move, but tend to slowly.

9 Setting the scales Unattainable - + Means Premium Luxury Self Image Premium Luxury Brand Source: Microsoft CDJ Premium/Luxury Autos, IPSOS Not me D B F G Not me

10 Certain brands move up the luxury scale with upgrades Rolls Royce -5% 91% Porsche -2% 80% Mercedes-Benz -2% 74% BMW 54% 10% Range Rover 45% 7% Lincoln 22% 12% Are these cars luxury brands? How about with upgraded features? Source: Microsoft CDJ Premium/Luxury Autos, Ipsos

11 Economy, Premium/Luxury Auto Consumer Decision Journey Subconscious ideas about cars & brands Established views Decision to Change Evaluating Armed with information, looking to make a deal Relationship with dealer affects buying decision Experiencing Sparked by an event Active decision to purchase Shopping Open to Possibility Explore Choose Vehicle purchased This stage is about discovery, advocacy, & validation Initial investigations of brands & models Visit websites, read reviews, talk to friends & family Last stage prior to purchase Begin to focus on the one

12 Primary and Secondary Consumer Needs Personalization Information Personalize Provides information or ideas that are specific to my personal needs Aware Helps me get to know what s out there Inspire Get ideas about the car, options and technologies Locate Helps me work out where I can make the purchase Visible Increase visibility to see products in my everyday life Compare Really helps me compare the different brands, models & options Enrichment Validation Familiar Gets me more familiar with the different brands and models Share Helps me share my thoughts or experiences with others Bond Helps me feel a stronger connection with a brands or product that can help Confirm Reassures me that I m making the right choices in this area Enjoy Helps me enjoy and feel good about the purchase I ve made Deal Helps me get the best deal on the car I want to purchase Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

13 Open to Possibility Decision to Change Ev aluating Shopping Experiencing Familiar 47% Familiar Explore Choose Inspire 44% Inspire Compare 53% Compare Aware Visible 61% 58% Aware Visible Personalize 42% Personalize Confirm 35% Confirm Locate 40% Locate Bond 36% Bond Deal 47% Deal Enjoy 51% Enjoy Share 42% Share Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

14 Premium/Luxury Auto Buyers are more confident than their Economy counterparts at each stage of the journey Open to Possibility Decision to Change Ev aluating Shopping Experiencing Explore Choose 72% 72% 63% 70% 70% 68% 65% 52% Car completely meets my needs 58% 57% 48% [US] Premium/Luxury [US] Economy Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

15 Different considerations come in at various stages % Consumers making decisions about each feature/aspect by stage Decision to Change Ev aluating Shopping Explore Choose Budget 34% 21% 25% 20% Make/manufacturer 24% 25% 38% 13% Exact spec 21% 28% 33% 18% Specific model 24% 20% 39% 17% The dealer 21% 26% 26% 27% Finance/how to pay 32% 18% 19% 30% Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

16 Open to Possibility Well-served vs. Underserved Needs Calculating the opportunity for media 1 Identify top 2 needs by stage 2 Look at top 5 influencers for the consumer need. Average it to see the delivery 3 The gap between need importance & average delivery (points 1 & 2) 58% 61% 30% 34% Visible Aware Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

17 Decision to Change Consumers have Subconscious ideas about cars and brands Consumers have established views Open to Possibility Explore Evaluating Choose Shopping Experiencing

18 Open to Possibility Well-served vs. Underserved Needs Needs are underserved in Open to Possibility, which likely makes it hard to start Gap between Need and Fulfillment Importance of Need Avg. Delivery of Top 5 Influencers 58% 61% 30% 34% Visible Increase visibility to see products in my everyday life Aware Helps me get to know what s out there Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

19 Open to Possibility Top Influencers Few channels are serving early needs well, opening up the opportunity for digital to help Visible 58% Aware 61% Increase visibility to see products in my everyday life Manufacturer website 32% TV ads 31% Car dealer 29% Test drive 28% Car show/event 28% Helps me get to know what s out there TV ads 39% Seeing cars out/about 34% Ads in auto mags 34% Ads in local paper 32% Ads in national paper 32% Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

20 Open to Possibility Premium/Luxury buyers are more concerned with styling, performance & having fun Top Vehicle Needs at the Start of the Journey (% Very Important) Enough room and space for my needs How comfortable it is The reputation of the manufacturer of the car A car that makes me feel safe and secure The styling, look and feel of the car A high level of performance It will be fun to drive Fuel Economy Source: Microsoft CDJ Premium/Luxury Autos, Tapestry 40% 40% 39% 40% 58% 64% 57% 63% 53% 61% 60% 60% 56% 54% 53% 63% Economy Premium/Luxury

21 Decision to Change Consumers have Subconscious ideas about cars and brands Consumers have established views Open to Possibility Sparked by an event Consumers make an active decision to pursue the purchase of a car Explore Evaluating Choose Shopping Experiencing

22 Decision to Change The Premium/Luxury purchaser is more likely to be triggered by desire Triggers for the Decision to Change 33% Economy Premium/Luxury 24% 20% 8% 12% 12% 11% 6% I just really wanted a new car Finance or lease ending on previous car My car had regular, recurring or serious maintenance issues and problems Needed something that better fit my position or status Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

23 Decision to Change Well-Served vs. Underserved Needs Brands need to build familiarity and inspire consumers to consider a change Gap between Need and Fulfillment Importance of Need Avg. Delivery of Top 5 Influencers 47% 41% 44% 35% Familiar Inspire -6-9 Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

24 Decision to Change Top Influencers Consumers can be triggered by experts, auto content and ads Familiar 47% Inspire 44% Gets me more familiar with the different brands and models Get ideas about the car, options and technologies Expert reviews online 42% Car dealer 42% Auto content in print 41% Search results 39% Ads in auto mags 39% Seeing cars out/about 38% Car dealer 35% Ads in auto magazine 34% Auto content on TV 34% Manufacturer website 32% Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

25 Decision to Change Consumers have Subconscious ideas about cars and brands Consumers have established views Open to Possibility Sparked by an event Consumers make an active decision to pursue the purchase of a car Explore Consumers begin initial investigations of brands and models Visit websites, read reviews, and talk to friends and family Evaluating Choose Last stage before consumers are ready to make a purchase Begin to focus on the one Shopping Experiencing

26 Evaluating: Explore Well-Served vs. Underserved Needs Consumers need help making initial comparisons Gap between Need and Fulfillment Importance of Need Avg. Delivery of Top 5 Influencers 53% 39% 35% 31% Compare Confirm Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

27 Evaluating: Explore Top Influencers Test drives, expert recommendations and reviews online fulfill this stage Compare 53% Really helps me compare the different brands, models & options Test drive 42% Expert reviews online 40% Manufacturer website 39% Car dealer 38% Auto content in print 38% Confirm 35% Reassures me that I m making the right choices in this area Test drive 37% Expert recommendations 36% Friend/family recommendations 29% Expert reviews online 28% Auto content in print 26% Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

28 Evaluating: Choose Well-Served vs. Underserved Needs Help is needed with Personalization and Locating the the One Gap between Need and Fulfillment Importance of Need Avg. Delivery of Top 5 Influencers 42% 40% 32% 25% Personalize Locate Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

29 Evaluating: Choose Top Influencers Search, manufacturer sites, and test drives are strongest in this stage Personalize 42% Provides information or ideas that are specific to my personal needs Locate 40% Helps me work out where I can make the purchase Search results 37% Manufacturer website 35% Test drive 31% Expert reviews online 30% Car dealer 29% Manufacturer website 25% Search results 25% Ads on console homescreen 25% Expert reviews online 24% Radio ads 24% Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

30 Consumers have Subconscious ideas about cars and brands Consumers have established views Open to Possibility Decision to Change Sparked by an event Consumers make an active decision to pursue the purchase of a car Explore Consumers begin initial investigations of brands and models Visit websites, read reviews, and talk to friends and family Evaluating Choose Last stage before consumers are ready to make a purchase Begin to focus on the one Armed with information, consumers are ready to make a deal Relationship with dealer affects consumer decision Shopping Experiencing

31 Shopping Well-Served vs. Underserved Needs Consumers need assurance they are getting a good deal and bond with their final choice Gap between Need and Fulfillment Importance of Need Avg. Delivery of Top 5 Influencers 47% 36% 24% 25% Deal Helps me get the best deal on the car I want to purchase Bond Helps me feel a stronger connection with a brands or product that can help Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

32 Shopping Top Influencers Search, test drives & dealership are top of mind in the shopping stage Deal 47% Bond 36% Helps me get the best deal on the car I want to purchase Helps me feel a stronger connection with a brands or product that can help Search results 28% Car dealer 27% Manufacturer website 23% Car show/event 22% Expert reccomendation 20% Test drive 34% Car dealer 28% Manufacturer website 24% Car show/event 23% Seeing cars out/about 17% Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

33 Shopping People buy from dealers they like Dealer Likeability Consumer dealer wishlist Greater transparency Simplify communications Use less jargon US Russia Germany 82% 44% 80% 35% 70% 44% Dealer I bought from Other dealers I encountered Source: Microsoft CDJ Premium/Luxury Autos, IPSOS

34 Consumers have Subconscious ideas about cars and brands Consumers have established views Open to Possibility Decision to Change Sparked by an event Consumers make an active decision to pursue the purchase of a car Explore Consumers begin initial investigations of brands and models Visit websites, read reviews, and talk to friends and family Evaluating Choose Last stage before consumers are ready to make a purchase Begin to focus on the one Armed with information, consumers are ready to make a deal Relationship with dealer affects consumer decision Shopping Experiencing Consumer has purchased car and is experiencing driving and other features This stage is about discovery, advocacy, and validation

35 Experiencing Well-Served vs. Underserved Needs Ownership is all about enjoyment of the car and sharing the experience with others Gap between Need and Fulfillment Importance of Need Avg. Delivery of Top 5 Influencers 51% 42% 24% 16% Enjoy Helps me enjoy and feel good about the purchase I ve made Share Helps me share my thoughts or experiences with others Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

36 Experiencing Top Influencers Driving the car helps with enjoyment, but few influencers are serving needs well Enjoy 51% Share 42% Helps me enjoy and feel good about the purchase I ve made Driving the car 28% Helps me share my thoughts or experiences with others Friend/family recommendation 18% Car dealer 28% Manufacturer website 25% Car show/event 20% Auto content in print 19% Car dealer 16% Consumer reviews online 14% Social net discussions 14% Expert reviews online 14% Source: Microsoft CDJ Premium/Luxury Autos, Tapestry

37 Experiencing Brands should consider ways to encourage both validation and advocacy with owners Any Validation 57% Any Advocacy 39% Driven with friends 31% Reviewed dealership 22% Uploded photos to SN 14% Reviewed car 14% Posted/written on SN 13% Became fan on SN 12% Uploaded video to SN 10% Tweeted about the Brand 7% Source: Microsoft CDJ Premium/Luxury Autos, IPSOS

38 Key Takeaways Utilize digital to blur boundaries between online & offline experiences Bring dealership to the home Encourage validation & advocacy

39 Thank you advertising.microsoft.com/research

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