Online car research and shopping creates ease and convenience for the buyer, but can pose a challenge for dealerships. As consumer behavior changes, you need to shift your strategy to deliver relevant ads to high-quality prospects. What is the best way to reach consumers online and deliver a compelling ad that drives traffic to your site?
Facebook Marketing Science and Oracle Data Cloud recently analyzed 64 auto campaigns, evaluating the quality of audience and scale across a variety of publishers. The study found that auto advertisers should use their data to create high-quality audiences and then execute highly-targeted campaigns to achieve the quality of audience and scale that delivers results.
According to the study findings, advertisers were able to reach more car buyers on Facebook than through most other publishers. In this analysis, Facebook’s audience was above average on the quality index and was particularly strong in delivering auto buyers at scale. Facebook ranked in the top 10% of publishers in these studies and first on 25% of the campaigns analyzed. Combining quality and scale resulted in the best performance for Facebook compared to other publishers.
What strategies can you implement to reach more car buyers on Facebook?
Lookalike audiences: Lookalike targeting gives you the ability to find more qualified prospects by leveraging the data from your existing campaign, reaching people who have not yet expressed an interest in your business, but more than likely are interested in what you have to offer.
We can pull lookalike models directly from the pixels we’ve placed on an advertiser’s website for your specific retargeting campaign and then use that data to target similar Facebook users.
Custom audiences: Creating custom audiences within Facebook enables you to deliver a relevant and effective message to known audiences, increasing efficiency in your marketing campaigns. With custom audiences, you can define groups of existing and prospective customers and serve ads to these targeted groups who have already expressed an interest in your brand.
Dynamic Facebook ads: We offer a relevant, highly-targeted advertising option with our Facebook dynamic ad campaigns. This tool reaches active car buyers by sharing your real-time inventory with them. Our Facebook dynamic ad campaigns show your inventory to the best prospects on Facebook by driving traffic right to the Vehicle Detail Pages (VDPs) for your cars. Dynamic ads are relevant, maintenance-free, and shown to buyers who are lower on the purchase funnel.
By implementing these strategies, you can increase your ROI by targeting in-market shoppers who are looking for cars you have on your lot. Contact us today and we’ll get your social media advertising campaigns working for you.