Turner 4 dealers's Blog

September 27, 2009

Demographic Differences Between Facebook and MySpace

Filed under: Uncategorized — Joe Turner @ 4:44 am
Wow, I just read an article on Mashable that had some very interesting information.   
First thing that caught my eye was that "On-Line Ad Spend" across all sites was down 26% for the automotive sector…wow.  I don't think that I am alone in thinking that it was up because dealers and OEMs have been scaling down their traditional ad spend.  But get this, Ad Spend on "Social Network" sites was up 178% for the automotive sector. 
The other thing that caught my eye was title of a referenced article "The More Affluent and More Urban are More Likely to use Social Networks" that reported that Facebook users have a largely upscale profile. In fact the top third of lifestyle segments relative to affluence were 25% more likely to use Facebook than those in the those in the lower third.
The bottom third segments related to affluence were 37% more likely to use MySpace than those in the top third. 
Additionally the report showed that users of Facebook were also much more likely to use LinkedIn, a network geared towards business and professional networking, than those who use MySpace.
Another referenced study by iStrategyLabs reported that Facebook's userbase is quickly getting much older.  The number of Facebook users aged 25 to 34 has grown over 60% and the number of users 35 to 54 has grown a whopping 190%.  Comparatively, the number of users aged 18 to 24 increased only 4.8%.
As the article clearly states "Facebook, simply put, is not a young site anymore."  The article stated that to a site like Facebook that lives on advertising this is a big deal.  I think it's a huge WAKE-UP CALL to dealers across the country. 
This economy is arguably the toughest we may see in our lifetime, and technology has rapidly changed the way we inthe car business reach customers.  The articles and studies referenced above should clearly signal that the Internet has truly become the primary means of reaching today's buyers.  The good news is that it's easier and more cost effective than any other method and according to many it is clearly where the buyers are. 
In conclusion dealerships that find a way to integrate Social Networks into their marketing plan will be poised to reap the rewards that the upcoming recovery will most certainly bring.
Just a thought…

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