Social media monitoring has a variety of uses in many different industries. As more people use sites like Facebook and Twitter to make purchasing decisions, product developers can gain advantages from tracking consumer preferences on these networks. Automakers such as Toyota are utilizing social media listening to learn what people think of specific models, find quality problems and improve the accuracy of sales predications, according to an article in CIO magazine.
The company used filtering to identify search terms active shoppers used when trying to decide between a Toyota model and a competitor. Automakers can use social media analysis for improve processes in many areas, including sales, service, marketing and product development. Companies can measure how interested a consumer is or how close to purchasing he or she is based on the frequency of visits to dealerships, which can be determined through Foursquare check-ins.
Social media listening also helps car brand understand customers’ dealership experiences, whether it is purchasing a new vehicle or returning for routine maintenance. When consumers are actively considering a new car, companies can identify the vehicle features that may cause people to be interested in a competitor’s model.
Consumer preferences are driving the auto industry
Customer service has a significant impact on whether consumers decide to buy from a particular dealership, Automotive Management Online stated. While many dealerships have been using social media as a marketing tool for several years, they can improve their sales and customer service operations with social media monitoring. The majority of consumers use social media on a regular basis, so monitoring behavior on these networks allows dealerships to create a better experience for their clients. Social media data could help dealerships get a better sense of their active leads and shorten the sales process.
Car salespeople have a reputation for being pushy, but social media monitoring can help companies identify when people are closer to making a purchase, CIO magazine said. Organizations can focus on stronger leads first and adjust their sales strategies accordingly. For national brands, analyzing social media data allows the company to make more accurate sales predictions and allocate incentive dollars in particular regions.
Social media has a wide variety of uses in the auto industry, but there is a great deal of opportunity in product development and shortening lead times. Social media monitoring can help automakers gain a competitive advantage.