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If half of Facebook is the “Face” of the people in society then what’s the “Book” part all about? 15 years after inception we are starting to find out. The Feds and Attorney Generals are starting to throw the “Book” at Facebook. Facebook knows quite a bit about the people as the advent of privacy laws come into play.
The “Book” is starting to turn into whether or not YOU are using Facebook to “book” deals? You should be.
It’s time to take a page from Facebook’s Automotive Retail Playbook.
By the way, lots of playbooks these days coming from the platform providers--ie, Google Playbook, Facebook Playbook, etc., but what does it mean to Automotive Retail?
Here’s my reasonably quick take:
Upper funnel brand awareness of your operational advantages should be 20% of your Facebook spend.
This includes Why Buy Here Ads, Dare to Compare ads, and Operational Advertising that keeps your name out in front of consumers. The utilization of lookalike audiences and the inclusion of friends of likers and videos are huge. Brand Awareness. Reach. And Video Views in Volume are your key considerations for this chunk of change.
Lower funnel Acquisition should be 60% of your Facebook spend.
Utilize Dynamic Facebook ads and pixels to get people to go to or come back to your website. Drop the leads into your CRM. The real, retail players know that the game is to get consumers from Facebook to their Dealership Pages and the Facebook Pixel gets that done. We’re looking for leads and in-store visits for sales and service, respectively.
Post Engagements and Consideration should be 10% of your spend.
If you’re not generating interest in the products you sell then you’re missing the point. Online specials on your website bring buyers in the land of Facebook. Website Conversions--ie, VDP page views greater than 4x, time on site greater than 5 mins, form fills and phone calls will help carry your advertising budget to more productive outcomes.
How about connecting the dots from a Facebook Ad that compares your product to the SEO landing page that brings it all together via a YouTube video and follow-up display advertising? Integration is key.
And it’s also clear about what doesn’t matter.
Vanity metrics like “likes” have no correlation to vehicle sales or brand health anymore. More specifically, they advise to “Forget the KPI’s that Don’t Matter”. Given Facebook’s clear direction on Organic Metrics, I’d advise that organic work on Facebook is unimportant, if not inconsequential. Some Social Media Influencers, if not Managers, would be wise to learn the Media Buying side of Facebook’s platform.
10% of Your Buy Should Move to Facebook Search Advertising
Meanwhile, Facebook advised they are rolling out Facebook Search Advertising. Get ready everyone! More to follow on this quickly developing space.
Check out the chart below and/or re-read this blog to help serve as your guide to growing your business.