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Facebook has this week rolled out dynamic ads for the automotive industry, in a move the social network hopes will improve conversion rates for dealerships, where retargeting is more than just a rehash.
The new advertisement format is a reworked version of Facebook’s retargeting ad format, now specifically tailored for automotive brands. The new ad format will work the same as the existing dynamic ad format for the real estate market; it will retarget the people who have already shown an interest in an automotive manufacturer’s website or Facebook page, to improve the relevancy of who sees ads in their Facebook feed.
More than just a rehashing of an existing ad format for a new market, however, Facebook has customised dynamic ads for automotive brands. For instance, in the back-end, you can now upload lists of new and used vehicles to be used as ads and you don’t have to configure them individually – you configure them as groups, which is more efficient.
Another improvement is the information provided with the ads themselves. Dealerships (or, indeed, whoever is managing the back-end), can include information about each vehicle they upload, and that information can then be displayed with the ad. For example, you can include a few relevant vehicle features (such as a price, mileage, and trim specification) with each uploaded vehicle, so that potential customers see a better, richer ad.
Automotive brands can continue to make use of Facebook’s lead ads feature to target potential customers, which we recommend, if your business wants to capture contact information for lead generation. However, the new dynamic ads format brings retargeting to the fold to provide dealerships and leasing companies with another option. By using both, you can effectively create custom audiences and master your market.