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March 23, 2005
PRESS RELEASE
Consumers Turn to Web As Often As to Dealers in Auto
Search,
Says Keynote Study
- Web Plays Major Role in Auto Purchase Process
- Consumers
Primarily Attracted to Search and Comparison Functions
- Kelley
Blue Book and cars.com Offer Best Online Experience
- Keynote
Study Examines Third Party Auto Web Sites
SAN MATEO, Calif., — March 23, 2005 — Consumers
are as likely to visit an auto Web site as they are
to visit a dealer when shopping for a new or used car
according to a new study by Keynote Systems (Nasdaq “KEYN”),
The Internet Performance Authority®.
The Keynote Customer Experience (CE) Rankings
for the Third Party Auto Industry is a syndicated research
study based on research with 2,000 consumers as they
evaluated and interacted with 10 leading third-party
auto Web sites. In addition to traditional opinion
data, Keynote’s proprietary research technology
allows for the collection of detailed qualitative and
behavioral data as consumers perform tasks at each
site.
The Autobytel.com, Automotive.com, AutoTrader.com,
cars.com, CarsDirect, Edmunds.com, Kelley Blue Book,
MSN Autos, Vehix.com, and Yahoo! Autos Web sites were
evaluated as part of this competitive benchmarking
study. Auto Web Sites First
Stop for Consumers
When shopping for a new or used auto, most consumers
start by browsing manufacturer or third-party auto
Web sites such as Kelley Blue Book and cars.com, according
to the Keynote study. Online methods are now on par
with or preferred over traditional car research methods
such as searching newspaper ads or asking advice from
friends and family. In fact, 58% of consumers say they
prefer to research vehicles online.
The vast majority of consumers will visit a manufacturer’s
Web site (76%) or visit a dealership (75%) in their
evaluation process. Consumers are slightly less inclined,
but still very likely to visit a third party auto site
(65%) – or ask a friend or family member for
advice (65%). Newspapers, a traditional medium for
research, are now consulted by only 53% of consumers
with Internet access.
When Researching Online, Search & Comparison
Features Trump Price
When selecting a site to use in their vehicle research,
Keynote found that consumers are more concerned with
the site’s search and comparison functionality
than in vehicle prices. In fact, Keynote analysis found
that price satisfaction is one of the lowest impact
drivers of customer satisfaction online.
“Consumers are using the Web as their primary
research vehicle when shopping for a new or used car,” said
Dr. Bonny Brown, director of research and public services
at Keynote. “And because the Web is first and
foremost a research tool in purchasing a car, consumers
want strong search and comparison functions on auto
sites.”
According to the study, the primary reasons for using
an independent auto site include comparing models (66%
reporting), researching reliability information (65%),
and obtaining vehicle specifications, features, and
options (63%). Photos and visual aids are less important,
but still critical to customer satisfaction with an
auto site.
Slightly more than one-third of consumers (35%) participating
in the study expressed a potential interest in purchasing
a car via the Web – with 20% willing to submit
a quote request online. The top frustration for consumers
visiting auto sites – affecting 1 in 4 – stems
from uncertainty about who receives information provided
during the quote request process.
Kelley Blue Book, cars.com Race Past Competition
Kelley Blue Book and cars.com outperformed the competition
in topping the Keynote Customer Experience (CE) Rankings,
an overall measure of online customer experience
based on evaluation of more than 250 metrics. Kelley
Blue Book was ranked the best site based in large
part on its ability to support branding, drive customer
conversion and create high levels of customer satisfaction
on its site. In Keynote’s specific evaluation
of vehicle views and information, an important driver
for overall site success, Kelley Blue Book also excelled,
along with Edmunds.com and MSN Autos.
Keynote
Customer Experience Rankings |
Vehicle
Views & Information Rankings |
1. |
Kelley
Blue Book |
1. |
Kelley
Blue Book |
2. |
cars.com |
2. |
Edmunds.com |
3. |
Edmunds.com |
3. |
MSN
Autos |
The sites providing the best online experience also
topped the Keynote Conversion Impact Index, which gauges
the overall likelihood of a visitor to request a quote
from the site or purchase through the site. The Keynote
study notes a direct correlation between online customer
experience and intent to request a quote or purchase
through a particular site.
The entire study, Keynote Customer Experience (CE)
Rankings for the Third-Party Auto Industry, is a large-scale
competitive benchmarking study examining overall industry
trends and providing analysis of specific sites. The
full report, available for sale, includes hundreds
of additional data points, a detailed analysis of the
findings and recommendations for improving site performance.
For further information about the full report, visit
http://www.keynote.com/syndicated.html.
Keynote Customer Experience Research
Keynote is the leading provider of customer experience
research services, offering both syndicated and custom
research examining consumer attitudes and behavior
on the Web. Keynote’s research provides critical
business insight into online customer experiences,
industry trends and competitive Web strategies for
a variety of vertical industries. In addition to
traditional opinion data, Keynote’s proprietary
research technology and access to a panel of 160,000+
consumers allows for the collection of detailed qualitative
and behavioral data that inform its reports.
Keynote’s syndicated research includes two distinct
types of reports: the Keynote Customer Experience (CE)
Rankings, which provide competitive benchmarking and
rankings of the leading Web sites in a specific industry;
and Open Web Research (OWR), which takes a broader
look at the customer’s experience across the
entire Web when performing specific tasks, such as
booking business travel.
Keynote CE (CE) Rankings are available for a number
of industries including the retail, banking and credit
card industries, as well as several travel verticals,
including the lodging, cruise and rental car industries.
The Keynote CE Rankings are the successor to the Vividence
CE Rankings following Keynote’s acquisition of
Vividence in September 2004.
To learn more about Keynote’s syndicated research
offerings and for a list of the various vertical industry
reports that are available, visit: http://www.keynote.com/solutions/cem_syndicated_research.html.
About Keynote
Founded in 1995, Keynote Systems (Nasdaq “KEYN”),
The Internet Performance Authority®, is the worldwide
leader in e-business performance management services.
Over 2,100 corporate IT departments and 16,000 individual
subscribers rely on Keynote’s growing range of
measurement and monitoring, service level and customer
experience management services to improve e-business
performance by reducing costs, improving customer satisfaction
and increasing profitability.
Keynote is viewed as The Internet Performance Authority
due to the company’s global infrastructure of
over 1,600 measurement computers in more than 50 cities
worldwide that capture and store on a daily basis over
60 million Internet performance measurements, frequent
media citations quoting Keynote's Web performance data
and analysis, the company’s market-leading Web
performance indices for vertical markets and leading
customer research that provides critical business insight
into online customer experiences, industry trends and
competitive Web strategies.
Keynote Systems, Inc. is headquartered in San Mateo,
California and can be reached at www.keynote.com or
by phone in the U.S. at 650-403-2400.
Keynote, The Internet Performance Authority and Perspective
are registered trademarks of Keynote Systems, Inc.
Other trademarks are the property of their respective
owners. © 2004 Keynote Systems, Inc.
Editorial Contacts:
Dan Berkowitz, Keynote Systems, (650) 403-3305,
dberkowitz@keynote.com
Dan Cahill, Roaring PR (for Keynote), (415) 552-3999,
dcahill@roaringcommunications.com
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