Facebook has already been making strides to get ahead this new year, and January hasn’t even ended yet. New versions of advertisements debuted on January 25th and have already had great success. Launching on Facebook, Instagram and Audience Network, these ads take retargeting to the next level. Mainly focusing on automotive websites right now, these “auto inventory ads” allow car-related pages to retarget a larger group of customers in a new way.
With auto inventory ads, automotive websites are able to reach a much wider audience. Facebook usually uses dynamic ads which display content only to those who visited the advertiser’s website. The auto inventory ads will be displayed to anyone who visited any dealership, manufacturer or any car related website, not just the advertiser’s. With this new way to advertise, interaction with potential customers is all based on consumer behavior. Manufacturers and dealers are able to upload data such as make, model and year, and Facebook generates ads to show to relevant customers. Showing them cars they have previously searched for, as well as other models they may be interested in. Not only are advertisements shown to those who have researched car related pages, but also to those on Facebook who have similar characteristics. This form of retargeting follows traditional methods, while also expanding to those potential users.
DARCARS Automotive Group has 38 dealerships along the southern east coast. They had a goal to increase online views of vehicle detail pages (VDPs) without having to pay a crazy amount for cost per click. They focused on inventory levels at five locations and created a different ad for each. From there they showcased their vehicles on different dealer websites and connected those sites with their Facebook dynamic ads. After just three months they saw big results. They had a 92% lower cost per VDP view than other ad platforms they used in the past, with a 66% lower cost per click. They also saw 45,000 VDP views, reaching 2.6 million people and leaving 5.5 million impressions.
Using consumer behavior data, Facebook dynamic ads and conversion tracking, DARCARS Automotive Group saw a large change in their reach to audience. With the new auto inventory ads from Facebook, businesses can expect to see even better results. Facebook makes it easy to switch from dynamic to auto inventory ads or create them if you’re new to the process. Combined with e-commerce, auto inventory ads make it simple to promote and retarget your business to a wider audience.