Facebook Offers a Tremendous Opportunity to Win New Leads
A lot of dealerships — possibly yours, too — have a strong opinion about limitations of “data-sharing” from Facebook. A good bit even decided to cut the platform from their strategy because these new limits are viewed as a problem.
We see an opportunity.
Here’s why: think of Facebook’s reach. Pew Research released a report on April 10, 2018, that found:
- 68% of adults use Facebook
- It’s popular among all demographics
- 74% of users report logging in daily
- 51% reported multiple logins per day
And while more and more people use Facebook, there’s a drop in people watching television and listening to the radio.
You’re saying, “But Reunion, all of those people using Facebook doesn’t solve the data issue.”
It’s true. You are losing access to data.
Facebook still remains the channel with the best audience targeting available.
You are wasting budget by overspending on television, radio, print, and even other digital stimulus channels. In fact, many stimulus channels even provide ad blockers, so car shoppers aren’t seeing ads.
The Core Opportunity of Facebook: Targeting
Your dealership can leverage unique targeting opportunities that only Facebook can provide.
Car Shopper Qualities
- Lifestyle / Interests
- Lifestages (engaged, married, expecting)
Build an audience with your CRM data and reconnect with those shoppers through effective messaging. You can then create a lookalike audience, which is a segment of Facebook users who have similar interests and behaviors like those from your CRM.
This is a quality that no other marketing channel can claim. Your ability to target on Facebook maximizes your budget and does not require, like other stimulus channels, for you to buy more than you need.
You can do a lot with targeting an audience by their location (known as their GEO).
- Set a radius around the dealership
- Use zip codes
- Select local shoppers
- Facebook can tell if you’re traveling through, in the area for a short period, or are a more permanent resident.
Using this Facebook data lets you make smarter decisions, like targeting areas you’ve discovered bring in most of your revenue — or branch out to an area where you want more visibility.
You have the freedom to customize your geography.
Build Your Detailed Car Shopper Personas to Deliver Lower CPM.
You can compile the lifestyle and interest data of car shoppers who visit your site into buyer personas. The buyer persona is a brief but detailed description of who this person is, so you can write more tailored messages that will have greater impact.
This will help you deliver a much lower CPM than any traditional channel.
Quick caveat: You should also watch your CPC. When you hyper-target, you’re essentially narrowing your audience — that means the CPM could rise, but you’ll see much better numbers across your CPC and CTR. It’s important to remember that you should never rely on a single data point.
You can learn more about our approach to social media advertising right here, or just leave a comment on this blog for a response.
This content was written in collaboration with Paid Media Director Kailee VanDamia.