Your dealership’s current ad strategy probably looks something like this:
You produce creatives and copy for your ads each month. You then upload your manually generated audiences and set up the ads to run on multiple platforms in multiple locations, assigning them each a budget. You then press publish and cross your fingers that this round of ads will be the next big thing in lead generation for your dealership.
Well, while we hate to be the bearers of bad news, in order for your ads to successfully perform and bring in quality, ready-to-buy, leads, it’s gonna take a whole lot more work than that.
Dealership Ad Monitoring & Budget Reallocations
Setting up your ad budgets is not a one and done process. In order to get the most qualified leads from your ads, you need to track ad performance across multiple channels and reallocate your budgets based on which ad campaigns and which platforms are performing well. This means your ad campaigns need constant monitoring so you can update your budget allocations in real time to ensure your money is working for you.
Non-stop monitoring of your dealership’s ad performance and round the clock budget reallocations may sound like an overwhelming task, but it is well worth the trouble. Tracking shifts in traffic on different platforms and the impact of your ad performance can ultimately impact the quantity and quality of the leads you bring in.
Before you brush this off as over the top, let’s take a dive into the ultimate case for round the clock monitoring: Covid-19.
From Brick & Mortar to Click to Order
You’ve heard it once, you’ve heard it a thousand times: the Covid-19 pandemic completely transformed the world of retail. With global government mandated lockdowns throughout 2020 lasting for months on end, people shifted their shopping from brick and mortar to the internet.
What you may not have realized is the tremendous impact this shift in consumer behavior has had on the world of marketing. As consumers were forced into an exclusive relationship with online shopping, digital marketing became more important than ever before.
Stay Home & Scroll Through Social
When the lockdowns began, consumers completely abandoned any attempt to limit their social media time. As global usage of social media dramatically increased by 21%, social media advertising prices became the most effective and cost efficient option for dealerships.
Many dealerships were suddenly forced to acknowledge the cracks in their digital marketing strategy. Resilient dealers worked quickly to implement automated marketing technology solutions which empowered them to respond quickly – and automatically – to this dynamic shift in the market.
AutoLeadStar’s Acquire, an AI- powered marketing platform, instantly recognized the drastic shift in traffic to social media as an opportunity for dealerships. The technology wasted no time and automatically reallocated budgets toward social channels ensuring AutoLeadStar clients could be found exactly where their shoppers were spending their time.
The Proof is in the Pudding
The results speak for themselves.
From February/March to April/May, Acquire clients saw conversion rates on social media increase by 34% and new users increase by 37%.
With more budget dedicated to cost-efficient social media advertising, dealerships were able to identify and target shoppers spending their time at home resulting in an 86% increase in leads.
The truly impressive part? These trends were consistent across all dealerships using Acquire.
Without the AI-powered round the clock trend monitoring and instantly implemented budget reallocations, these dealerships would have continued spending money on non-performing ads rather than cashing in on the tremendous lead generating opportunities afforded by the shift to social media.
Spend it Wisely: Smart Marketing for Dealerships
Manual round the clock monitoring of ad performance and trends is a herculean task even for the greatest of digital advertisers. AI-powered automated marketing technology for dealerships makes it possible.
Acquire’s robust machine learning capabilities allows it to automatically adapt to changes in consumer behavior in ways that humans simply cannot. Using machine learning, the technology is always working to find the best allocation of resources, whether that means a slight change in ad placement or a major redistribution of ad budgets, ensuring the dealership gets the best possible leads for every dollar spent.