It’s a burning question for auto marketers on Twitter: Are our tweets influencing people to buy cars?
To tackle this question, the social network released new data today that attempts to show just how much 140 characters are worth.
MarketShare, a marketing analytics company that has partnerships with global brands including Twitter, measured the direct and indirect effects that Twitter had on auto sales for more than 20 volume midsize and luxury compact cars that accounted for 34 percent of annual U.S. sales in 2013. Twitter says the model also includes “broader media mix, and non-marketing factors that influence purchases such as vehicle price and the economy.”
In 2013, MarketShare concluded that Twitter drove $716 million in auto sales among those 20 nameplates through Twitter Ads, positive brand mentions, amplification of TV advertising and the Twitter activity of the automakers themselves.
Luxury compact autos generated $17.80 in revenue for every $1 invested, while volume midsize cars generated $7.90 for each $1 invested, according to the research.
“With over 65,000 daily tweets about purchasing or researching a new car, Twitter gives auto brands the unique opportunity to connect with an audience of in-market shoppers who have expressed intent to buy a car,” said Rob Pietsch, head of Twitter’s auto vertical, in a statement.
“The new research from MarketShare highlights the power of Twitter for auto marketers, who can leverage the platform to not only build brand awareness and affinity with auto-intenders, but actually move cars off the lot.”