4 Campaign Ideas That Will Maximize Your Dealership’s Market Intelligence Report Results
Our latest free tool, the Market Intelligence Report builder, helps auto dealers pinpoint how many In-Market Auto Shoppers are in their area, and unlocks key data insights about their market. But once you get your hands on these auto shopper insights, what’s the next step?
Check out these 4 campaign ideas to help you reach the shoppers in your market with the right message.
Haven’t built your own Market Intelligence Report yet? Check out our free builder here.
Facebook and Instagram have rapidly become one of the most powerful and cost effective tools to reach potential customers.
And with hundred of millions of Facebook and Instagram users in the US alone, it’s not hard to see why.
Here are 4 Facebook and Instagram campaign ideas to start reaching your target audience and sell more cars.
Drive Results With Facebook & Instagram Using These 4 Campaign Ideas
Idea #1: Reach All Local Facebook Users
How many Total Facebook Users did your Market Intelligence Report reveal within your Primary and Secondary markets?
Use these numbers to understand your “Max Potential Reach” on Facebook and Instagram.
We recommend reaching these audiences with branding ad campaigns to familiarize shoppers with your dealership, telling them why they should buy from your dealership instead of the competition.
We call these “Why Buy” campaigns. You can set up these campaigns under the Facebook “Reach” objective, which is the most cost-effective method of reaching the maximum number of users.
While Reach campaigns are not optimized for traffic or leads, this is the greatest way to get your dealership into plain sight of the auto shoppers in your market.
Idea #2: Introduce Your Latest Makes & Models To Shoppers Who Are “Near In-Market”
Take a closer look at the “In-Market Shoppers” section on your report. These numbers are pulled from Oracle Data Cloud with POLK / IHS Markit data.
In your report, how many Facebook users are likely to purchase within 6 months – 1 year?
These are great audiences to build in Facebook and deliver ads showcasing your newest Makes & Models.
Many auto shoppers need to be introduced to the differences in your trims, interiors, and tech features of your vehicles.
Using video and collage ad formats, you can take users on a “virtual tour,” building their affinity toward your brand, and even helping them choose the vehicle that’s going to be best for them when they’re ready to buy.
Idea #3: Show Your Live Used Inventory To In-Market Shoppers To Shoppers Who Are Almost Ready To Buy
How many in-market auto shoppers that plan to purchase in the next 3 months did you report return?
According to Cox Automotive, in 2019, the average time car shoppers spent in-market was 96 days.
Shoppers are also spending more time shopping online, less time in the dealership, and visiting fewer dealerships before making a purchase (and after COVID-19, some aren’t visiting dealerships at all)!
It’s imperative to get your live inventory in front of shoppers who are waiting for the right vehicle and price point to pull the trigger.
Facebook Automotive Inventory Ads are one of the most effective tools in a dealer’s pocket.
Displaying your live inventory to in-market shoppers allows them to browse through relevant models on your lot without ever having to scroll away from their Facebook and Instagram feeds.
You can even use Automotive Inventory Ads to retarget users who have browsed on your website, showing them models that are the same body style and in the same price range as the one they’ve viewed.
Want to learn more about how Inventory Ads work? Check out our video overview here!
For the lowest funnel shoppers who indicate they’re ready to buy, you can run Lead and Conversion campaigns to encourage them to submit a lead to “Apply for financing, Test drive, or Check availability,” that gets dropped directly into your CRM.
Idea #4: Layer In Credit Data To Reach Subprime or Superprime Users
What about the credit score portion of the report?
The report breaks down Credit Score brackets like so:
You can run ads to the “Up & Coming” shoppers on your Market Intelligence Report and drive them to financing pages, easing fears of credit disapprovals.
Do you have a specific credit tool or landing page on your site? Drive traffic there and then retarget audiences with relevant inventory and ad copy to apply for financing.
By driving awareness about financing options and allowing lower tier credit users apply from home, shoppers who may not have come in the dealership can apply online.
Just like the “Up & Comers,” if you have many “Thriving” credit shoppers on your report, you can send them your premium inventory with special financing or luxury vehicle campaigns.
Other Ways To Maximize Your Market Intelligence Report
Discovering your audience is a big piece of the puzzle, but you obviously can’t stop there.
Knowing how to reach your target market effectively can make or break a business.
By using market insights from your Market Intelligence Report and following this blueprint for proven successful campaigns, your dealership can be on the way to using a data driven strategy to reduce wasted ad spend and sell more cars.
To find out more ways you can turn your Market Intelligence Report into actionable ideas, watch our instant, On-Demand product demos here.