DealerAuthority Third-Party Data & Social Media

[erika_simms]

For those of you that are still skeptical of the benefits of social media, third-party data, and the power it can have in driving traffic and sales consider this:

Recently, we reviewed a client’s social media analytics since implementing third-party data via Oracle in October of this year. The results were truly impactful! In just one month, the client saw an increase in click-through rate by 56%, post clicks by 14%, and a decrease in cost-per-click by 20%. The dealership was gaining more engagement on their Facebook page and spending less to do so! This rapid improvement in social engagement also led to impressive traffic to the dealership’s website.



Shoppers that engaged with the dealership’s Facebook page and clicked on a link that led to the website spent 178% more time on-site than the month previous, clicked through over 3 pages, and spent ample time browsing through the content. These analytics are just a taste of what third-party can do to increase qualified traffic from a dealership’s social media to their website.

We are believers!

 

[Ryan Everson]

I know there are a ton of variables that can influence an ad's performance month to month (copy, creative, offer, seasonality, etc).

Did you guys happen to run a split test comparing the two audiences' performance during the same time period with the same exact ad? That would provide a more accurate comparison.

Also what targeting options were they using the prior month? First party lookalike data, demographic targeting, etc?

Just curious because we're always looking to improve our ad performance!

 

[erika_simms]

I know there are a ton of variables that can influence an ad's performance month to month (copy, creative, offer, seasonality, etc).

Did you guys happen to run a split test comparing the two audiences' performance during the same time period with the same exact ad? That would provide a more accurate comparison.

Also what targeting options were they using the prior month? First party lookalike data, demographic targeting, etc?

Just curious because we're always looking to improve our ad performance!

Hey Ryan!
Definitely, messaging, creative, offers, seasonality, etc play a part - but we are finding that strong messaging and creative can be amplified with the use of third-party data.

In the month previous, we were running Native FB Demographic Targeting (w/ In-Market Make/Model specific targeting). These ads were built with similar ad structures/copy to the month previous... Just a bit of updating based on current offers. We used Collection Ads.

 

[Jason@nabthat]

Anyway we can stop talking about Bounce Rate, Time on Site, Pages/Sessions - They are somewhat meaningful in a broad sense of "meaningful", which broken down is nothing more than "meaningless" . (I think any dealer would take 1 page, 50% bounce rate, 45 sec time on site if it meant 10% conversion rate)...

We need to start talking about ROI, Cost Per Lead, Closing Rate from Sources, Actual Profit/Cost per Radius/Source/Medium, etc... . These are the conversations we are having today with our dealer's and believe this is the reason why some have doubled their market share.

 

[Alexander Lau]

"Everything Is Fake": Ex-Reddit CEO Confirms Internet Traffic Metrics Are Bullshit
https://www.zerohedge.com/news/2018...onfirms-internet-traffic-metrics-are-bullshit

"It's all true: Everything is fake," tweeted Former Reddit CEO Ellen Pao regarding a Wednesday New York Magazine article which reveals that internet traffic metrics from some of the largest tech companies are overstated or fabricated. In other words; they're bullshit.

Yet not even Facebook, the world’s greatest data–gathering organization, seems able to produce genuine figures. In October, small advertisers filed suit against the social-media giant, accusing it of covering up, for a year, its significant overstatements of the time users spent watching videos on the platform (by 60 to 80 percent, Facebook says; by 150 to 900 percent, the plaintiffs say). According to an exhaustive list at MarketingLand, over the past two years Facebook has admitted to misreporting the reach of posts on Facebook Pages (in two different ways), the rate at which viewers complete ad videos, the average time spent reading its “Instant Articles,” the amount of referral traffic from Facebook to external websites, the number of views that videos received via Facebook’s mobile site, and the number of video views in Instant Articles.

Can we still trust the metrics? After the Inversion, what’s the point? Even when we put our faith in their accuracy, there’s something not quite real about them: My favorite statistic this year was Facebook’s claim that 75 million people watched at least a minute of Facebook Watch videos every day — though, as Facebook admitted, the 60 seconds in that one minute didn’t need to be watched consecutively. Real videos, real people, fake minutes. -NYMag

 

[Tarry Shebesta]

Anyway we can stop talking about Bounce Rate, Time on Site, Pages/Sessions - They are somewhat meaningful in a broad sense of "meaningful", which broken down is nothing more than "meaningless" . (I think any dealer would take 1 page, 50% bounce rate, 45 sec time on site if it meant 10% conversion rate)...

We need to start talking about ROI, Cost Per Lead, Closing Rate from Sources, Actual Profit/Cost per Radius/Source/Medium, etc... . These are the conversations we are having today with our dealer's and believe this is the reason why some have doubled their market share.

I agree Jason! The key is creating ads that direct the "ad clicker" to a landing page that relates to what they clicked on. There is sooooo much $$$$ wasted on SEM.

Here is a case study where we collaborated with Dealer Authority. They generated the FB ads/traffic and we, DriveItNow, created the CTAs.
http://driveitnow.com/DIN_Case_Study_Jeff_Schmitt_Chevy.pdf

The results were crazy good and close rates are higher than any other lead source or website CTA they use.

Vendor collaboration is a beautiful thing and is good for the dealer, consumer, and the industry.

Happy New Year!