Archive for category Facebook
Facebook and Twitter Offer Dealers New Ad Targeting Capabilities – Automotive Digital Marketing Professional Community
For the dominant social networks, the pressure is on. Facebook’s IPO cast a harsh light on its advertising revenue business models, which are not growing as fast as Wall Street had hoped. Twitter, on the other hand, has to prove that it has a business model for driving revenue that scales large enough to keep their doors open.
One way to add value to what is offered to advertisers and thus gain more ad dollars is to ramp up ad targeting, which both companies have done over the past few months. But while Twitter is playing it safe, Facebook is pushing the envelope with new tools, including corporate data base “Match-Back” services that could deliver the exact automotive consumers your dealership is looking for… But, could also bring the web equivalent of junk mail to your Facebook page.
Most Americans are accustomed to the rules of engagement for direct mail, which is very much an offline practice. (Subscribe to a new magazine? Don’t be surprised to see a raft of offers for credit cards in your mailbox.) But Facebook is allowing its big advertisers, including car companies and dealer groups to match the email addresses and phone numbers they’ve collected with Facebook profiles matching that data.
The move raises a number of privacy questions. When a consumer gives an email address or number to a marketer, there’s the expectation he will get communication from the brand. But what about when it comes to Facebook? “I don’t think anyone who has given an email and phone number to Facebook expected it to be used by Tide to target ads at them,” said Alan Chapell, an attorney who consults with ad-tech companies on privacy policies.
Facebook says it’s giving users two opportunities to opt out. First, a marketer must ask permission from customers to reach them on Facebook. Second, users can opt out by clicking a box on the ads themselves.
Twitter’s gentler approach
Twitter, which described its new targeting option as the biggest change to its ad capabilities since they were first introduced, is taking a more cautious approach. Twitter’s interest targeting includes 350 prepackaged categories, from the broad “pets” or “films” to more niche subcategories like “documentaries” and “Bollywood.”
The categories are not created from the content of tweets themselves, but from user actions on Twitter such as retweets and favorites, and whom users follow. If you follow Anthony Bourdain, for example, that’s a clue that you’re a foodie.
Unlike Facebook, Twitter is intrinsically public and users have no expectation of privacy. Yet Twitter’s approach to targeting is likely to be perceived as less invasive than, say, Google’s mining of search data or Gmail. “We have always been thoughtful and deliberate in how we roll out our advertising products and features,” a spokeswoman said in a statement. “This certainly applies to targeting as well.”
One could also argue that users have higher switching costs since many have spent years accumulating connections, photos and apps. That’s why we predict it will keep pushing the envelope until the scope of its business matches the ubiquity of its user base, and why the ad targeting has only just begun.
Facebook Infographic Source:
Twitter Infographic Source:
Guy Kawasaki and Infographic Showcase
Posted by Ralph Paglia in Automotive Digital Marketing, Automotive Marketing, Automotive Retail Management, Automotive Sales, Automotive Social Media, Best Practices, Car Dealers, Data Analysis, Dealer Training, Facebook, Google, Market Research, Marketing Research, Social Marketing on June 18, 2013
There are many dealers who have strong criticisms regarding Edmunds.com, but regardless of whether you consider Edmunds an asset or a liability to the retail auto industry there is little debate about their unique position within the vehicle buying process for many millions of automotive consumers…
The stark reality for car dealers seeking greater understanding of how car buyers shop online in 2013 is that Edmunds.com has the ability to paint a vivid portrait of today’s online car shopper… Which includes 9 out of 10 new and used vehicle buyers!
About 18 million visitors use the Edmunds.com site every month to shop for their next new or used car, and this gives the Edmunds team an unparalleled insight into the car buyer’s research and shopping process. For as many years as I can remember, Edmunds has used the online automotive consumer activity to generate extensive research data and analysis to drive the sort of car buying insights that would establish itself as one of the more valuable resources for car companies and dealers to better understand car shopping and the way buyers use automotive information. Historically, Edmunds has made the analysis and insights available to their business partners and to the public through academic inquiries and media requests. However, Edmunds has not previously assembled together the complete volume of current time period data and the analysis and insights gleaned in one coherent piece.
By publishing and making available the 2013 Edmunds.com Car Shopping Trends Report, they have provided the auto industry and especially dealers and automotive marketers with a true gem of a document. The report which ADM Professional Community members can download using the link at the bottom of this blog post, shows the results of extensive data mining within the Edmunds.com’s extensive database to reveal the most relevant car shopping and purchasing trends in America today. These trends offer direct clues toward ways that the automotive industry can move forward by empowering a more engaging car shopping experience.
Throughout the 2013 Edmunds.com Car Shopping Trends Report, you’ll also find references to a 2011 survey conducted by “Added Value” on behalf of Edmunds.com that asked 2,476 online car shoppers representing the U.S. car shopper population to describe their expectations for their next car purchase. Edmunds correlated these responses to real-world buying data to see if shopper expectations match reality. In preparing their analysis and conclusions, the Edmunds market research team found many striking consistencies between the two sets of market research data. These surprisingly strong correlations between the two reports suggest that car shoppers have a strong sense of the automotive marketplace and that they know how to set reasonable expectations around price, availability and product performance.
By evaluating this wealth of data provided by the Edmunds team, you will find a story about car shoppers that is often surprising and counter-intuitive to many dealers and automotive professionals. While at other times, the Edmunds data reinforces critical theories held by car dealers, automotive sales professionals and throughout the auto industry. Some of the key findings in the 2013 Edmunds.com Car Shopping Trends Report include:
- Two out of every three car shoppers consider themselves highly engaged in the car shopping process, and they turn to a variety of information to help them decide on a new or used car. Time spent on Edmunds.com is up 2 percent from 2011 to 2012. And the most-viewed elements by new car shoppers on Edmunds.com are reviews, pricing information and photos.
- Mobile access is becoming a powerful tool for car buyers. Traffic to Edmunds.com’s mobile site spikes on the weekends – and especially on Saturdays – when the bulk of car buying takes place.
- Shoppers are very good at anticipating how much they’ll pay for a new car. New car shoppers told us in 2011 that they plan to spend $30,500, on average, for their next vehicle. In fact the average transaction price for a new car the following year was $30,803.
- The average age of a new car buyer is about four years older than the average age of a used car buyer.
- Shoppers are turning to leases now more than ever. And the difference between the average monthly lease payment ($433) and the average monthly finance payment ($468) is greater than at any time since Edmunds.com started keeping records.
- About 44 percent of all trade-in vehicles last year went toward a new car by the same brand, which is consistent with our 2011 survey that found that 49 percent of shoppers say they “plan to stick with a brand that has worked in the past.”
- Luxury car owners and shoppers are buying and considering more nonluxury cars. The trend speaks to the improved quality of non-luxury vehicles.
- Many shoppers say they want just the basics in a new car, but emotions can drive buyers to add options. New car buyers are willing to spend an average of $2,200 – or about seven percent – above base model and trim prices to add more options on their cars.
The Edmunds.com’s 2013 Car Shopping Trends Report is intended to be a free resource for ADM Professional Community members who are interested in creating a better car buying experience. This is just the first in a series of reports that the Edmunds Research team hopes will shed more light on car shopping behavior. The team intends these findings to open up a dialogue which will contribute to the ongoing improvements within the automotive retail industry. They also want to encourage ADM Professional Community members to contact Edmunds at any time to discuss more ways that Edmunds.com can help you better understand today’s car shopper.
Here is a link to download a PDF version of the Edmunds.com’s 2013 Car Shopping Trends Report: http://static.ed.edmunds-media.com/unversioned/img/industry-center/…
Edmunds Points of Contact
For Dealer Inquiries: 855-EDMUNDS
For Press Inquiries:
Edmunds Annual New Vehicle Sales Forecast for 2013 and Historical Actual Sales:
- Edmunds Trawls for Car Buyers in Social
- Edmunds 2013 Car Shopping Trends Report
- Website Allows Car Shoppers to Survey Real Prices
- Edmunds.com exec: Car buying should be more like Amazon.com
- The Next Amazon: Edmunds.com?
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