Simply put, if you aren’t advertising on Facebook you’re missing out.
Let’s start with some staggering numbers. There are approximately 1.71 billion monthly active users on Facebook1. That’s almost one out of every four people on the planet. Americans, specifically, spend 22 percent of their mobile internet usage time on Facebook. The sheer number of mobile users who visit Facebook on a daily basis is reason enough to advertise on the world’s most popular website.
But adverting on Facebook is far more specific than simply taking advantage of its enormous user base. Because of the intelligence the social network has of its users – from necessary personal data needed to have an account to the information found in the interactions and experiences each person has with the site – Facebook advertising’s targeting capabilities are one of the most sophisticated of any digital ad platforms out there.
That’s why a Facebook advertising strategy combined with an existing diversified advertising plan is key to producing the greatest return on your digital marketing investments.
How Facebook Advertising Helps You Sell More Cars
For inventory or fixed ops promotions, you can use Facebook advertising for remarketing or to target the shoppers that have already showed interest in your inventory by reaching them with your most compelling marketing message.
Lookalike Audiences further expand your reach by using demographic and interest data to identify Facebook users who show significant similarities to your business’s existing shopper audience. Attracting Lookalike Audiences to your website also grows your retargeting audience over time.
While you can use Facebook holistically to promote inventory and fixed operations services, you can also use it to achieve specific goals. For example, you can:
– Showcase your entire inventory. Dynamic Product Ads are the best way for you to promote your inventory on Facebook. The carousel ad unit prominently displays your inventory in users’ News Feed, and links them directly to vehicle details pages on your website.
– Boost specific models. If you have a certain model you’re looking to move, consider using video ads and dynamic vehicle ads to boost visibility and generate demand for that particular vehicle.
– Increase competitive conquest efforts. If your market share within your brand and region is strong, consider using Lookalike Audience targeting capabilities to expand your reach and bring your marketing message to shoppers who have shown similarities to those who have visited your site already and may be shopping competing brands.
– Target fixed operations offers. Many dealerships have great service and parts offers that rival independent shops. To ensure your local community is aware of your most attractive fixed operations offers and incentives, you can promote them using carousel or image ads.
– Craft a custom Facebook strategy. From seasonal sales to custom events at your dealership, Facebook advertising boosts visibility and generates interest.
In early 2017, an automaker partnered with Dealer.com to run a pilot with their dealerships. Their goal was to focus on three core models within their lineup and boost engagement and leads for those vehicles.
In partnership with Dealer.com, the automaker used a Facebook advertising strategy that included remarketing, Lookalike Audiences, video, and dynamic vehicle ads. At the end of the four-month long pilot, dealers who participated reported 11.8 percent more leads, 32 percent more vehicle details page views, and 21 percent more visits than dealers in the same region who didn’t participate2.
As you craft your year-end marketing plan, make sure you’ve allocated additional funds for Facebook advertising. Combined with paid search, retargeting, and other forms of demand-generating display advertising, Facebook advertising can be the added boost you need to reach and exceed your sales goals.
Are you seeing results from advertising on Facebook? Comments, thoughts, tips, and questions all welcome in the comments section below.
Doug Freeman is the Senior Product Manager of Dealer.com Advertising
1 Brandwatch, 2016, Marketing: 47 Facebook Statistics for 2016, https://www.brandwatch.com/blog/47-facebook-statistics-2016/
2 Dealer.com, 2017, Internal Data