In our latest series of blogs we are going to explore some of the key trends for the Automotive industry in 2017. Automotive is well known for its long purchase cycles, so it’s paramount for a brand to stay top of mind. Brand building efforts are typically done through outbound marketing, like TV and sponsorships, which can be costly and difficult to track. In this blog, we detail another approach for brands like Tesla – tracking online buzz and developing targeted content.
The Tesla Effect: How has the release of Tesla’s Model 3 impacted the Electric Vehicle (EV) market?
The Model 3, Tesla’s first mass-market and cheapest car to date at $35,000, has attracted a lot of media attention. Searches for the model have risen by 345% from the start to the end of July, as a result of two key announcements:
- 7th July: The first Model 3 rolled off Tesla’s production line, and
- 28th July: Tesla threw a “handover party” for the first 30 cars.
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Whilst the recent hype has brought a lot of attention for Tesla, the EV industry has actually benefited as a whole, with searches for “electric cars” rising in tandem by 346%. In addition, searches for other key EV competitors have surged, such as: BMW i3 (+164%), Nissan Leaf (+125%), Renault Zoe (+125%) and Hyundai Ioniq (+106%), over this same period.
Searches for Electric Vehicle Models – Weekly Search Share
Media has furthermore capitalised on the recent EV buzz. Top sites, such as Auto Express, have seen a 162% rise in articles around “best electric cars”, as oppose to articles solely focused on Tesla Model 3. In the week ending 29-July, articles on electric and hybrid cars had captured 3 out of the top 5 articles on their site.
Top Articles on Auto Express – Weekly Article Share
Downstream traffic from search also shows a significant contrast between Tesla and other EV players. In the week ending 29-July, Tesla had a higher share of searches going to media outlets (like The Verge, Alphr and Electrek), whereas, competitors had a higher proportion going to their direct site, dealerships or classifieds.
This implies that whilst audiences of Tesla maybe more interested in news hype, audiences of BMW or Nissan could be demonstrating higher intent.
Top Downstream Sites from EV Searches
To summarise, keep a close eye on search trends and terms going to your industry. Capitalise on growing interest and identify spikes in searches, profile audiences who have shown this interest and where they go online after search.
To learn more about how brands can generate buzz and target high prospect audiences, download the full report here: Automotive 2017 (Update with link to client download)
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