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|by Shaun Kehrberg, Product Marketing Manager, Digital Advertising|
|VDP views are all the rage. At Cobalt, we traditionally see up to a 30% bump in VDP views when we turn on a VIN-specific digital advertising campaign for a dealer. So what's the key to luring those potential customers back to your website and increasing their engagement with your VDPs?
The answer is Dynamic Inventory Merchandising. This advanced advertising strategy provides seamless integration between a dealer's inventory and their digital advertising campaigns, automatically generating campaigns based on the inventory on your lot. Dealers can utilize Dynamic Inventory Merchandising to help increase VDP views and overall online engagement with your VINs.
The following is Part I in a series on how, highlighting a technique that some have called the MVP of your dealership's advertising strategy--- dynamic inventory retargeting.
Dynamic Inventory Retargeting
We know you’re already familiar with retargeting - display ads that keep your dealership present even after car shoppers have left your website. But today we can take these ads one step further by utilizing advanced retargeting techniques. Dealers can now easily incorporate dynamic, scrolling images of live inventory in their ads to follow their potential customers around the Internet.
For example, imagine a shopper who spends the majority of their time on your website looking at used vehicles. Shouldn’t the retargeting ads that “follow them” be specifically tailored to their unique shopping experience? In other words, if a shopper was looking at a used Honda Accord, the retargeting ad should feature that EXACT Accord (as long as it’s still on the lot). If that vehicle sells, the next ad served to the shopper will dynamically adjust to feature a similar make/model.
In addition, dealers can target customers with ads featuring a unique look and feel or special offers and pricing based on whether they are shopping for Certified Pre-Owned (CPO) or regular used vehicles. The same functionality can also be easily applied to New Vehicle and Service & Parts campaigns - allowing a dealer to reach every website visitor with a dynamic banner ad specifically tailored to her unique shopping experience.
What does this mean for dealers?
This type of advertising is a game-changer because it allows dealers to supplement their generic brand retargeting with hyper-precise retargeting down to the model and even the very VIN a customer viewed. A click on a vehicle image within these dynamic ads takes the shopper directly to the Vehicle Details Page. And as we already know, more VDP views means more cars sold.
There's a new kid on the retargeting block and branded retargeting ads are now only part of the automotive remarketing equation.
As Brian Pasch, President of PCG Consulting, highlighted in a recent article, dynamic inventory retargeting ads "give dealers a dynamic edge" and have emerged as a uniquely efficient means of showcasing your inventory online and driving highly targeted traffic back to your VDPs.
In Part II, we'll look at another technique you can inject into your digital advertisings strategy that can help you drive more traffic to your VDPs--- Dynamic Paid Search Advertising.
Have you experimented with dynamic inventory retargeting and measured the results? Are you sold on this new metric for measuring your ability to attract online shoppers and sell to them--- VDP views? What other metrics do you value most when predicting a success event on your site?
About the Author
Shaun Kehrberg is the Product Marketing Manager, Digital Advertising at Cobalt. He is focused on helping dealers understand the power of today’s advertising technology and the collective value of the Cobalt digital marketing experience. Shaun can be reached at 206.219.8203 or firstname.lastname@example.org.