A survey conducted by Google and Ipsos revealed that more than 60% of car buyers visited a dealership or a dealer’s website after watching a video of the vehicle they were considering. This is hardly surprising, especially given that the average conversion rate for websites with videos is 4.8%, compared to 2.9% for those without videos.
In a rapid decision-making process, content must be compelling
Most automotive buyers spend, on average, less than a month researching – around 60%, with slight differences per country and per new or used vehicles. Such a rapid decision-making process can only be effectively influenced by creating high-impact content that captures the user’s attention and is functional in conveying all the useful information to make the most informed purchase decision possible.
An experience much closer to visiting a dealership
An automobile is a type of product in which the aesthetic component plays a key role. The video format is the one that approximates the digital discovery to the experience of physically visiting a dealership the most, by allowing you to appreciate the vehicle in its entirety, from the design of exteriors and interiors to its equipment and functionalities.
An effective story in a few seconds
A video can communicate the vehicle’s features more effectively, almost as if narrated in real time. By making the benefits more tangible, the chances of sparking interest in potential buyers also increase.
Emotional engagement at its highest power
The video format is engaging and offers a more immersive experience to the user, triggering emotions that can positively influence the purchase process, accentuating both the functional and rational components as well as the aspirational one.
Simple comparison, just a click away
In the research phase, where users typically gather information on different makes and models and compare them, videos also make comparison easier by clearly highlighting the vehicle’s strengths, in absolute terms or relative to the potential buyer’s preferences.
Accessibility and transparency: a winning combination
In addition to the convenience of providing all the vehicle information online, videos are also perceived as a more authentic representation, generating more trust and a higher sense of security and thus a greater propensity to purchase.
To date, videos are the second most important source of information after search engines (in 77% of cases for new and 73% for used vehicles) and therefore an asset that must be fully exploited.
Thanks to artificial intelligence, it is possible to easily create high-quality and professionally looking videos
In a traditional approach, creating professional videos would require not only specific skills but also a significant investment of time and resources. For a single vehicle, it would take an average of 4 days between shooting and post-production, making the process unsustainable and not efficient at scale. Imagine, then, if a vehicle were sold in this timeframe; the budget allocated for video production would be wasted, eroding profitability.
Artificial intelligence can come into play and eliminate this complexity, allowing for the creation of complete and well-structured videos. While they look professional, they are, in fact, generated in just a few clicks, starting from the information already present in the stock management system.
Improving stock rotation to maximise profitability
If videos favour conversion and AI allows them to be created with a reasonable use of time and resources, it is clear that their combination can only be winning for dealers, contributing to optimising stock rotation.
For used vehicles, in particular, prolonged stock duration negatively impacts profitability: cars undergo a physiological depreciation, losing more value the longer they remain unsold. We’re talking about a loss that can reach up to 20% of the value in the first year and then settle at a decrease of around 1% per month.
Therefore, adopting technological solutions that allow increasing traffic to owned channels and improving the lead generation rate becomes strategic for maintaining business profitability. Increasing operational efficiency through AI means being able to free up precious resources to invest in activities with higher added value – in this case, advanced phases of lead qualification and lead management.
From car to video in one click: promoting stock with the AI Video functionality of StockSparK
To support dealers who want to fully exploit the potential of the video format, MotorK has developed AI Video, a StockSparK add-on that allows generating videos for each of the vehicles in stock, starting from the photo gallery and detail page.
Images, texts, and music are effectively combined by AI, creating original content that highlights the vehicle’s strengths and increases its perceived value. Together with other AI-powered functionalities that this stock management solution offers, such as background removal and the generation of 360-degree views, AI Video becomes the ace up the sleeve to give greater visibility to one’s stock and get the right vehicle to its potential buyer.
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