These are unprecedented times in the automotive industry, and advertising is no different. Read this blog to learn how to take advantage of increased demand and prices through innovative advertising tactics that focus on inventory-based advertising messaging. For a more in-depth overview of the supply and demand landscape, refer to this month’s Market First Report.
The Importance of Inventory-Based Marketing
No two people are the same, so don’t target everyone the same way. Think about where your potential customers are in their buying process, what they’re looking for, and what kind of media they primarily consume. Someone in the awareness stage of the buyer’s journey should be targeted with the goal of brand recognition, while someone looking to get into a new car ASAP should be shown ads of the exact model they’re looking for. The good news is the OEM (original equipment manufacturer) does a lot of this heavy lifting for you by keeping the brand at the forefront of consumers' minds. As a dealership, it is then your responsibility to actually sell the specific vehicles you have in stock. Use inventory-based advertising to move your used cars off the lot faster and get more inventory in return.
To help you tailor your marketing, ZeroSum created MarketAI, a platform that uses artificial intelligence to identify current shoppers in your market and optimize your advertising strategy. Knowing that these shoppers are planning to buy a car in the next two weeks, you can more effectively target them with inventory-based advertising that shows them you have exactly what they’re looking for in stock.
OTT Video Advertising is Essential
eMarketer forecasts that in 2022, 84% of U.S households are projected to be CTV (connected TV) households. Additionally Cored Evolution found that 79% of people planning to purchase a car within a year watch ad-supported OTT (over-the-top), and 39% of U.S. car shoppers aren’t even reachable through traditional television. The solution? Inventory-based OTT/CTV video advertising from ZeroSum.
To target these prospective customers, ZeroSum created Auto-Stream, the OTT/CTV creation and placement platform specifically built for auto dealers. Within this platform, dealers can effortlessly create inventory-based video ads with AI voiceovers, allowing ads to be up and running within minutes.
Content Quality Matters
Content is always king, especially when selling specific inventory. Take advantage of non-traditional media, like social media and OTT/CTV video advertising, and make sure your posts are always optimized for mobile devices. Go a step further by making your content interactive, directing consumers to different places on your website. With test drives being harder to come by, show off your vehicles in new ways by using 360-degree tours and videos. With your content, consistency is key. Build brand recognition by continuing to target your audience throughout their buying journey, from the moment they see a national brand advertisement to when they arrive on your lot.
Don’t Skip SEO
With the internet being so crowded with ads, it is important to make sure your content is high quality and optimized for search engines. Review your website to ensure you are targeting the right keywords with relevant content. Optimize your page titles by making sure they are concise and descriptive, and make sure you have accurate meta descriptions for each page. To stay on top of SEO, perform regular audits on your own website, and keep an eye on your competitors to identify opportunities to set yourself apart.