Automotive dealers have long used Facebook’s automotive inventory ads to reconnect with people who had visited their website or app.
Now, Facebook has enhanced those ads to help dealerships reach more potential customers who have shown interest in purchasing a vehicle online.
Citing a recent Facebook IQ survey, the social media company notes that 63 percent of car buyers discover new vehicles online. With Facebook’s newly enhanced ads, dealerships can now reach more prospective car shoppers based on their visits to other auto- and dealer-related pages, websites and apps.
Facebook explains how the ads work: If someone is using several car and dealership sites to research and compare vehicles, automotive inventory ads allow dealers to upload their car inventory with details such as make, model, year and location. Facebook then automatically tailors ads to show the most relevant vehicles to the right prospective buyers. People who have visited a car-related Facebook page but have not yet visited the dealership’s website are an example of those prospective buyers.
The social media company provided examples showing how the ads are bringing strong results. Facebook said that by using automotive inventory ads to reach local auto buyers, Lexus Santa Monica in California achieved 3.2 times more vehicle detail page (VDP) views and three times lower cost per VDP view compared to previous prospecting campaigns with the same budget. Castle Chevrolet in Illinois is another dealer that Facebook tracked, and that business achieved a 27-percent increase in reach using the new ads, compared to a prospecting conversion campaign using lookalike audiences.
Users can opt out of any automotive inventory ad they see, according to Facebook. All they have to do is click on the upper right-hand corner of an ad. As is the case with all Facebook ads, auto advertisers can reach customers without being able to access personal information about them.
Automotive inventory ads are now available globally for all advertisers on Facebook, Instagram and Audience Network, according to Facebook.
A representative from Lexus Santa Monica says the dealership is happy with the results mentioned earlier, such as the increase in VDP views. “Enabling Facebook automotive inventory ads for prospecting provides an efficient, cost-effective way for us to expand our campaign to reach more engaged in-market shoppers,” Brad Burlingham, vice president of marketing for LAcarGUY and Lexus Santa Monica, said in a news release.