Display Advertising presents dealerships with the incredible opportunity on scalability, reach and targeting for their initiatives at hand. The technology available today has given us marketers the ability in real-time, to target and optimize the campaigns like we have never been able to before. This does not mean that each Display Campaign or Automotive Dealership is utilizing these tools or running campaigns correctly.
So, what are other automotive dealerships missing the boat on?
The landscape for Display Advertising has dramatically changed in the past year. The industry has shifted from utilizing Ad Networks or 3rd Party middle men to execute display buys across publisher sites, to programmatic real-time bidding via ad exchanges and technology. Basically, through the implementation of technology, we can man the levers ourselves, receive the level of transparency we need to truly optimize the campaigns around specific objectives, and make changes and/or optimizations in real-time. It also presents itself high cost efficiency, as we do not have to pay fees or bake in costs for the Ad Networks to run campaigns on our behalf. Not to mention the amount of targeting capabilities we can implement on the go for a dealership.
There are (5) targeting capabilities that you can implement via a RTB (real-time-bidding) platform for Display Advertising.
Select a white list of sites that match your dealership brand, audience and objectives.
Targeting each campaign to each dealer’s marketing area (DMA, AOI, PMA, etc.) where the display ads (banner ads on websites) will be served based on a consumers IP Address. (City, Zip, State, DMA)
Contextual Keyword Targeting places a display ad onto pages with content that matches the dealership brand and the like, keywords or phrases, reaching their target audience as they are viewing specific content.
Audience Targeting uses data to reach users that match the targeted demo of each individual dealership brand (age, gender, HHI). The data is compiled via 3rd party data vendors and has been stripped of personal information.
Channels of Choice
Utilizing a mix of digital channels to hit each dealership’s target audience along their purchasing path is crucial to the success of the digital display campaigns. They are the following: Desktop, Mobile and Video.
Take a step back and rethink your digital strategy
Dealerships need to rethink their automotive digital strategy. The old school way of implementing a display campaign can be the black hole of brand awareness. Dealerships need to consider or question their agencies on whether they have the ability to buy this media and be able to optimize the ads or placements (websites) in real-time. Not ensuring that you are mixing a layering of targeting segments can also limit your audience or performance for the campaign.
Our digital landscape today allows us the ease to swap out ads, change targeting and strategy – all in real-time. Also, we can see the reporting minutes after it’s gone live. Now, this doesn’t mean that everything is automated. It still takes a Grease Monkey to pull the levers, develop the ad assets (which takes time) and use analysis and data to make actionable business decisions in the campaigns.
Here is a great infographic from DPS on Display Solutions and the targeting layers briefly explained.