Popularity and familiarity are the two main drivers. We want something we've heard and experienced before. We often buy products from companies we know and trust. If you've tried Pandora, you may be more inclined to subscribe to the music streaming service. One might think Facebook is a good media option because of the ads seen on their site. Google, Pandora and Facebook may be good media choices, but are there better options? By using only one vendor, you could be missing out on more efficient channels and media. And knowing where to place your advertising dollars can be challenging.
There is a better way. Deciding which media partner delivers what customer message is a very important decision. For example, Bing often outperforms Google for luxury shoppers, but only in certain markets for certain vehicles, and not every month. Manually adjusting budgets for every campaign and channel is inefficient. There's too much data to read, analyze and change. People will often compare Bing to Google or KBB to Edmunds, but rarely can they bid and fund channels programmatically against each other.
Having a media agnostic platform and artificial intelligence (AI) bidder gives you a competitive advantage. You can see which partner is performing best, based on your goals. You'll know how to use your marketing dollars and automatically allocate them in real time.
By applying AI to their advertising spend, dealerships can avoid an unnecessary drain on resources. The platform collects data and extracts actionable insights so you can make better campaign decisions faster.
Dealers using AI-enabled cross-channel optimization (CCO) can see significant increases in performance. Is your dealership using AI to optimize your valuable advertising dollars? If not, you're missing out on one of the best ways to target in-market shoppers that are most likely to buy.
Chris Sanders has been working in digital marketing for dealers for over 10 years. He started in the SEO department and has worked his way up to head of OEM strategy for CDK Global. He enjoys Formula 1 racing, philosophy, and of course, dealer marketing.