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Promoted Article Understanding Your ROI on Facebook & Instagram Advertising

StaceyL

Green Pea
May 22, 2019
7
6
First Name
Stacey
Facebook and Instagram provides important information you can use to create better ads for your dealership to better target potential buyers. Facebook tracking data helps ensure your ads are seen by the right people, that are in-market to buy at your dealership. Through Facebook conversion tracking you can you can see how people interact with your website and how your ads turned into sales.


Accelerate every phase of the purchase lifecycle, from raising brand favorability, to selling more vehicles through Facebook & Instagram Advertising. Shoppers openly share genuine information about themselves on Facebook, so you can confidently reach in-market shoppers and make it easy for people to learn about your dealership while you generate leads. List used vehicles on Marketplace to reach active shoppers. Use previously sold lists, site traffic or look-a-like audiences to reach people who have already shown interest in your business. Make better marketing decisions by tracking how people respond, both online and off.

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Saying whether an ad campaign “worked” or not is pretty subjective from one internet director, GM, or agency to the next, so it’s important to drill down your KPIs. What is your typical profit margin on a sale? To what extent does that exceed your cost of advertising? It’s no easy task to aggregate all of your advertising costs between traditional or digital media and know for sure which sales can be attributed to which medium. But thankfully through Facebook’s matchback reporting (a.k.a. Offline Conversion Reports), pixel event tracking, and figuring out how to place a value on website traffic, we can get about as close as we’ve ever been able to for proving ROI on social media.


Offline Conversions
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When it comes to tracking how your Facebook ads turn into sales, the answer is offline conversions. Your ads drive more value than clicks, and it’s time you measured it to prove your dealership’s worth within the digital landscape. To better understand the effectiveness of the various ad campaigns and their return on ad spend you must use offline conversions. As ad campaigns run, dealerships can upload offline event data, such as lists of purchasers, to see how those offline events connected to people who saw their ads. As an agency, Dealer OMG works with different dealerships to use their CRM systems and retarget lost prospects and missed opportunities. Offline conversion reporting and tracking on Facebook is a MUST to boost ROI for dealerships.



Pixel Event Tracking

The Facebook pixel allows you to see how many vehicles were browsed. We can also use the Event Setup tool which allows us to track when customers interact with specific buttons on the site.This information can help you refine your digital marketing strategy for ROI. Facebook retargeting pixel data and dynamic ads allow you to show targeted ads to people who have already visited your site. You can choose to get really granular here. For example, you can target more specifically by body style and even previously viewed VDPs can be used, zeroing in on your customer's main needs. Without a pixel, you can still optimize other things but the data will not be accurate. With the pixel, you can optimize for conversions that align more closely with business goals, like vehicle sales!



Facebook Targeting Data

Facebook can use its targeting data to help you build a lookalike audience of people who have similar likes, interests, and demographics to people who are already interacting with your website. This can help expand your potential customer base. As Facebook collects data on who buys from your site and how much they spend, it can help optimize your ad audience based on value. That means it will automatically show your ads to the people who are most likely to make high-value purchases.

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Digital advertising is very much a long game, but given some patience and frequent refinement, you will see tangible results when utilizing all of the tools available to you. Facebook and instagram ads can give your dealership the ability to target the exact customers that matter to the success of your business. There is no other marketing solution in the world that allows you to target exactly who you want to speak to and interact with.





For guidance on where to get started, visit dealeromg.com/playbook!

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