The Biggest Misconceptions Dealers Have About Digital Advertising
Transcript
Chas : What are some other big big misses that you see from the dealerships that are struggling to get a foothold on social media, Facebook advertising, etc?n
nDavid :nYeah. So, I mean, the reality is 90% of the dealers in America right now are all doing exactly the same thing on Facebook. And what they’re doing is a carousel inventory yet, right. Oh, but they’ll see it all the time. Yeah, that’s, I mean, that’s all they’re doing. And they also have retargeting. And that retargeting ad is a carousel inventory. Yeah. So I mean that that’s their entire Facebook strategy. And the biggest I’ll tell you, there are three words in this business that I hate more than any other. And it is an in-market shopper. It is this concept that has happened since digital marketing started, that everything we do is supposed to be targeting this magic moment in time when somebody’s finally worthy of getting an ad because they’ve just started shopping. n
nThat’s a failure when it comes to advertising, you are now the most commoditized product on earth because you and everybody else knows the right market. You’re all serving them carousels of inventory and you have now become nothing more than a picture of a car and a price. And that’s it and you’ve missed the opportunity to do everything that advertising can do in the months and years before that as a brand and that is the entire social ad strategy of the vast majority of dealerships in this country is we’re gonna run automotive inventory ads which are you know the the Facebook piece and don’t get me wrong nobody does a better job of finding a shopper than Facebook. n
nThey know that you looked on marketplace for cars, that you went to dealership Facebook pages, that you’ve been on dealership websites with pixels on it, that you’ve been on third party sites, all they know a ton about shopping behavior. But the problem is that your entire focus is just talking to somebody at that special magic moment. It’s commoditized and it doesn’t work well. It’s why you hear oh, the leads are really low quality. Oh, the leads are unresponsive. You know, Oh it’s you know, there’s no gross and those deals. Look, yeah. They don’t care about buying anything from your dealership. They care about the picture on the price, which is all you showed up?nn
nDavid :nYeah. So, I mean, the reality is 90% of the dealers in America right now are all doing exactly the same thing on Facebook. And what they’re doing is a carousel inventory yet, right. Oh, but they’ll see it all the time. Yeah, that’s, I mean, that’s all they’re doing. And they also have retargeting. And that retargeting ad is a carousel inventory. Yeah. So I mean that that’s their entire Facebook strategy. And the biggest I’ll tell you, there are three words in this business that I hate more than any other. And it is an in-market shopper. It is this concept that has happened since digital marketing started, that everything we do is supposed to be targeting this magic moment in time when somebody’s finally worthy of getting an ad because they’ve just started shopping. n
nThat’s a failure when it comes to advertising, you are now the most commoditized product on earth because you and everybody else knows the right market. You’re all serving them carousels of inventory and you have now become nothing more than a picture of a car and a price. And that’s it and you’ve missed the opportunity to do everything that advertising can do in the months and years before that as a brand and that is the entire social ad strategy of the vast majority of dealerships in this country is we’re gonna run automotive inventory ads which are you know the the Facebook piece and don’t get me wrong nobody does a better job of finding a shopper than Facebook. n
nThey know that you looked on marketplace for cars, that you went to dealership Facebook pages, that you’ve been on dealership websites with pixels on it, that you’ve been on third party sites, all they know a ton about shopping behavior. But the problem is that your entire focus is just talking to somebody at that special magic moment. It’s commoditized and it doesn’t work well. It’s why you hear oh, the leads are really low quality. Oh, the leads are unresponsive. You know, Oh it’s you know, there’s no gross and those deals. Look, yeah. They don’t care about buying anything from your dealership. They care about the picture on the price, which is all you showed up?nn