Facebook is upgrading the targeting capabilities of its automotive inventory ads with the ability to reach more people.
Dealerships can now use automotive inventory ads to reach people who have visited other auto and dealer-related Pages, websites and apps.
Previously, targeting of automotive inventory ads was limited to people who visited a dealer’s own website or app.
According to a recent Facebook IQ survey, 63% of car buyers discover new vehicles online. With this update, dealers can now reach more prospective buyers.
“Here’s how the ads work: let’s say someone is researching and comparing vehicles across several car and dealership sites.
We then automatically generate tailored ads that show the most relevant vehicles to the right audiences, such as people who have visited a car-related Facebook Page, but have not yet visited the dealership’s website.”
Automotive inventory ads allow dealers to upload their car inventory with details such as make, model, year and location.
Brands testing the new targeting capabilities of these ads are seeing strong results, Facebook says.
Lexus Santa Monica used the ads to drive 3.2X more vehicle detail page (VDP) views and 3X lower cost per VDP view compared to previous prospecting campaigns with the same budget.
Castle Chevrolet saw a 27% increase in reach using the new targeting, compared to a prospecting conversion campaign using lookalike audiences.
Facebook notes that auto advertisers can use these ads to reach buyers, but they will not learn any personal information about them.
Also, people can opt out of seeing these ads at any time.
The upgraded automotive inventory ads are now available for all advertisers on Facebook, Instagram and Audience Network.