When Facebook first emerged on the scene as a viable advertising source for the auto industry, it provided a means of getting in front of core audiences quickly and efficiently. The other social network platforms that have emerged since Facebook have focused on visual aesthetics along with the “quick hit” of micro-and quite monumental updates. This shook things up drastically for those looking for ROI, but there are other dynamics at play.
Facebook Today: Who’s Logging in and Why It Still Matters
For advertisers to properly discern how to get the most out of their ad dollars on Facebook, it’s best to take a close look at the type of consumers using the platform. One trend that can be noticed after years of dedicated scrolling is regarding the all-important age factor, and it may surprise some. One social media expert reflected this past week that she was excited to join Facebook in 2006 when she was in college and has observed her friends not posting as frequently as they used to.
TikTok, Instagram, and Snapchat have been the places where people are posting. Keeping in touch on Facebook has given older users a means of facilitating social bonding. A survey of 414 baby boomers and traditionalists was conducted just before the pandemic and found that seniors enjoyed Facebook’s sense of community and rich interaction. True “discussions” are had here, with comments about lifestyles, products, and social issues spurning both positive and negative debate.
Remarketing Strategies for a Changing Landscape:
An NIH study found that Facebook was primarily organized around maintaining relationships with friends and family networks, and this made it ideal for those experiencing loneliness. Retargeting is a PPC strategy where you show your ads to people who are familiar with your brand, and its purpose is to motivate them and get them to act. The first stage of this process includes the people who are unfamiliar with your product, as you educate and show them the benefits of what you’re offering.
The “consideration” stage includes people who have already had a high level of engagement with your brand or product. This is where the remarketing process sees amazing results! The “Retention” stage is the end-of-funnel group which includes current and past customers and focuses on first catching their attention. This stage involves showing the customer unique Facebook ads that will suggest additional or brand-new services. If a company pops up in your feed and you are not even aware of its existence, you may not be likely to reach into your wallet for compensation!
From Segments to Sales: Optimizing ROI with Well-Targeted Advertising
One of the toughest hurdles regarding finding good leads and traffic from Facebook is locating the right demographics. It goes beyond age range and income, as traits such as buying behavior and other tendencies need to be examined. During a successful Facebook marketing campaign, a person engages with your brand, then a detailed algorithm identifies their specific account. The individual will see your Facebook ads if they exist in your retargeting network.
If you can obtain a well-put-together data feed for your vehicles, rotators can be an incredibly effective means of advertising. These valuable tools allow the user to scroll through your inventory to meet the demands of not only the post-covid mindset but the consumer who is insistent on doing everything on their terms. One quite valuable tip here is regarding the “dealer’s all-important bottom line”: it can be incredibly touchy to show the vehicle’s price unless it’s heavily discounted, as the cost is higher per click.
Cruising to Conversions: The Finer Points of Auto Dealer Leads
With both Instagram and Facebook, it is possible to receive chat leads directly from the platform. If you choose to do this over Messenger, it’s crucial to have someone there nearly 24/7 to provide live feedback. Effectively configuring the Facebook Event Setup Tool and your Google Analytics will also help to predict your ROI. Here are some great tactics for the retargeting process:
- Always keep one remarketing campaign live.
- Test more than one high-value audience bases
- Convey a strong message and funnel match.
- Devise special offers to appeal to audiences.
- Avoid over-segmentation of your audience.
- Delete users who have successfully converted.
- Always be watching your ad frequency.
Setting trends is a task entirely apart from following them, and at FarFetched Studios, we have clearly demonstrated prowess in the auto realm! Facebook has proven to be resilient in retaining its older base, which at times has proven to have financial stability for large purchases. We can transform your vision into a dynamic and captivating campaign while informing and nurturing your target audience.