DEALERS are failing to fully maximise on the opportunity presented by Facebook automotive inventory ads, according to Honchō, the specialist digital marketing agency.
The company is advising dealers to reassess the way they use Facebook ads to create greater engagement with in-market new and used cars buyers using Facebook and Instagram.
Facebook expanded its automotive inventory ads service just over 12 months ago to enable dealers to target potential buyers searching online for a car. Previously the functionality had been limited to buyers who had visited the dealer’s website or used their app.
However, Honchō’s audit of the way dealers use the service has found a failure to capitalise on its expanded reach.
John Clarke, Honchō’s Paid Social Media Specialist, said: “Facebook automotive inventory ads are more powerful than before, offering a highly targeted solution which can be up to 40% cheaper than Google ads; yet many dealers are failing to use them to reach in-market buyers.
“A common mistake we see is dealers bundling different brands and models into the same ads. Instead they should be creating individual ads containing just one car brand and a single model which they can then build an audience around.”
Honchō believes Facebook automotive inventory ads could help boost new car sales with the introduction of the 20-plate.
Clarke added: “In the run up to the March plate-change our advice to dealers would be to create product sets within their Facebook inventory featuring a specific brand and a 20-plate model.
“Buyers searching for that make and model will then only see dedicated ads which can be based around any special promotions or to market pre-registered stock. This will increase the propensity of buyers to engage with the dealership,” said Clarke.
Honchō said dealers who adopt Facebook automotive inventory ads are likely to see a large increase in their paid social returns with conversion rates typically rising by 25%.
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