Understanding the “Ready to Buy” Strategy
The “Ready to Buy” strategy revolves around two key audiences: retargeted Vehicle Detail Page (VDP) viewers and lookalike audiences. When properly executed, this targeting approach can yield outstanding performance in digital marketing campaigns. Unlike other platforms, Facebook’s implementation of this strategy is programmatic and seamlessly integrates with automotive ad units, eliminating the need for complex creative work. Once set up, the strategy can run indefinitely as audiences are automatically refreshed, and creative elements are dynamically generated from the dealership’s inventory feed.
Redefining Website Retargeting
Website retargeting, particularly VDP viewers, is a well-known practice. However, Facebook takes a different approach by bypassing the limitations posed by cookies. With the majority of site visits happening on mobile devices, where cookies are ineffective, traditional retargeting methods fall short. Facebook solves this challenge by matching individuals on dealership websites to actual Facebook users. This enables the delivery of highly relevant ads based on their website interactions, showcasing real inventory on the lot with enticing dealer prices.
Harnessing the Power of Lookalike Audiences
Lookalike audiences play a crucial role in the “Ready to Buy” strategy. By analyzing profiles of VDP viewers, Facebook identifies individuals who share similar characteristics and demographics but may not have visited the dealership’s website before. The underlying principle is that people with similar tastes and interests are more likely to make similar purchasing decisions. Leveraging lookalike audiences enables car dealerships to expand their reach and tap into a valuable pool of potential customers, all without incurring any additional costs.
Unlocking the Potential: Auto-Specific Ad Units
Recognizing the popularity and efficacy of the “Ready to Buy” strategy, Facebook has introduced two auto-specific ad units: Dynamic Ads for Autos and Dynamic Lead Ads. These programmatic ad units leverage the power of inventory feeds and require minimal creative efforts. They ensure seamless delivery of highly relevant ads tailored to individual users, optimizing the chances of conversion.
Conclusion
In the fast-paced automotive industry, the “Ready to Buy” strategy has emerged as a powerful tool for car dealerships seeking to capture in-market shoppers. By leveraging retargeted VDP viewers and lookalike audiences, dealerships can achieve remarkable results, from increased engagement and reduced costs to substantial growth in vehicle sales. Facebook’s programmatic approach and auto-specific ad units further enhance the effectiveness of this strategy, making it an indispensable tool for automotive marketers. Embracing the “Ready to Buy” strategy can transform the marketing landscape for car dealerships, leading to enhanced brand awareness, increased sales, and, ultimately, business success.
P.S.: This article has also been published in the UCD Magazine.
Sean Toussi
If you have any questions or comments regarding this article, please email Sean@Glo3D.com
Glo3D.com Content Team,
AI-based, Digital Merchandising.
Virtual tour, Video Tour.
