DealerImage Pro, a provider of proprietary in-house photo, video, 360-degree and window-sticker software for dealerships, announced findings of a survey to gain more insights into the perceptions of dealership staff on the role of online videos in consumer research and shopping.
While just over 90% of the 3,000 male and female consumers in the U.S. surveyed view a virtual walk-around video of a vehicle as important when researching or purchasing, only about 15% of roughly the same number of auto dealer professionals surveyed said they're currently leveraging full-motion video for their vehicles. Though 63% of dealers say they realize videos are a critical part of the consumer’s vehicle shopping and consideration, that shows an increasing need for videos in dealership merchandising, especially as an additional 75% of dealers plan to incorporate video elements when showcasing inventory this year.
The quality of the video is an additional factor impacting the negotiating price point of the vehicle for consumers, 44% of whom feel the videos they saw in the past made the vehicle appear to be of a lesser quality. Dealers seem to be already noticing that, since over 71% say they're now looking at improving the quality of their videos, and 66% say they are searching for a new vendor to help take better videos when enhancing overall vehicle merchandising this year.
Eighty-two percent of dealers also appear to be considering the importance of using 360-degree exterior and interior vehicle spin videos, in which a majority, or 58%, of consumers feel all exterior and interior angles of the vehicle must be clearly seen when looking at a video online. Currently, 48% of dealers say they're using 360-degree exterior and interior vehicle spin videos, while another 44% want to incorporate those types of videos in their merchandising efforts.
"Although we saw a greater disparity between the opinions of dealers and consumers on the significance of photos in our previous survey, it’s encouraging to now see more emphasis being placed on implementing video elements with vehicle merchandising,” said Louis Norman, director of operations of Dealer Image Pro. “Consumers are now demanding, more than ever, quality content in all media formats, including full-motion VDP video.”
