Everyone’s stepping up their mobile presence, but the automotive industry is really doubling down on is mobile video ad spending. This report from mobile video advertising platform Vdopia shows just how much the spending has increased and whats its effects are, especially on smartphone users.
The most interesting part of the report shows what types of cars are most likely to be bought by different ethnicities and gender using smartphones.
You can download the full report from Vdopia, which reveals some more interesting stats:
- Video ads create far more engagement (47%) than other types of advertising.
- New car launches take up the bulk of car commercial spending.
- 17.5 million smartphone owners are likely to purchase a vehicle in the next 6 months
- 54% of the mobile auto audience is Gen Y – between the ages of 18-34
- 51% of mobile auto searches result in a purchase
The increase in video ads makes sense for car-makers, since they are the ones who have the budgets, and the most to gain from well produced, attractive video ads, often the best way to showcase their products. Plus with smartphones increasingly playing a role for in-store consultation and purchases, it makes sense for an extended presence on the platform.