Effectv’s regional automotive director, Anthony Jingoli shared his vision for the industry during an interview with Kyle Mountsier, cohost of Automotive State of the Union’s (ASOTU) Automotive Troublemakers podcast and Co-Founder of Contagious Auto and Auto Genius. They met up virtually during the 2022 NADA Show to discuss the future of automotive and how dealers need to adapt their advertising strategies.
Click below to watch the full interview and scroll down for key takeaways based on automotive industry trends and insights auto dealers can implement today.
The Big Misconception of Linear TV
“Linear TV is dead” is a common misconception within the automotive industry that is resulting in a missed opportunity for dealers. Today, there is an emphasis on using digital advertising to reach customers right at the time they are ready to buy. However, linear TV advertising can be used to help dealers tell better stories and target in market (and soon-to-be in market) customers throughout the entire buyer’s journey.
Advertisers who use linear TV advertising in combination with digital are likely to see greater success than those who exclusively pursue digital. A study conducted by Effectv suggests a more effective strategy is a combination of both TV and digital advertising.
Funnel Mentality and Different Media Platforms
It’s important to consider all the ways consumers interact with brands. Customers tend to flow between the different stages of the buying journey, as opposed to downward in a single journey from awareness to purchase.
Reaching customers at all phases of their journey is key and simply focusing on the purchase phase prevents your brand from connecting to a potential buyer in a way that is meaningful to them. For example, dealers that stay “on” and promote topics like their brand’s community involvement are growing market share over their competitors. This approach keeps their brand top of mind for new customers.
Awareness vs. Transaction Advertising Strategy
Historically, dealers had transactional advertising strategies focused on price and payment. Dealers ran their advertising campaigns during a “discount period”—typically the last two weeks of the month—and then stopped the campaign for the first two weeks of the month that followed.
The industry has begun to move away from a transactional advertising strategy and toward a brand awareness strategy where ads run continuously throughout the month. Auto intenders are in the market every second of every day, so instead of waiting for end-of-month discounts and deals to advertise, it makes sense to be on consistently.
The Importance of Data
There is much conversation around customer data with a cookie-less future and the ability to access cross-app tracking. Provider and dealer data sets are more important than ever before.
It is likely that every auto intender watches TV in some way, shape, or form, which is why provider data is so useful. For example, Effectv uses insights from aggregated first-party Comcast viewership data to understand what audiences are watching and how to best reach them. These insights uncover trends, break down viewership myths, and enhance audience segments to optimize campaigns.
Dealers need to be strategic when it comes to managing their own data. Clean and accurate dealership data matched against aggregated Comcast first-party data, in a privacy-compliant way, can deliver campaigns efficiently and to the right audience segments.
Collaboration is the ’22 Hero
The hero of 2022 and beyond is collaboration. The more industry partners, auto vendors, and dealers that come together to execute strategies, the better. By collaborating with multiple auto vendors and providers, more diverse data sets are brought to the table and create more influence and impact for dealers.
Authenticity is Key
What’s most important to consider when creating content? Authenticity. Tell a story that is true to your brand in a clear and concise manner and work with creative partners who are expert storytellers and know how to reach the audiences dealer’s care most about.
Video interview originally published here on asotu.com.