In addition to Campaign Budget Optimization rolls out, Facebook also recently introduced enhancements to its Automotive Inventory Ads.
The upgraded automotive inventory ads now let advertisers reach more prospective car shoppers.
Unlike earlier, when dealershp was limited to people visiting their own website or app, now they can engage people who have visited other auto and dealer-related pages, websites and apps.
Facebook notes, that 63 percent of car buyers discover new vehicles online and brands involed in testing new targeting capabilites of automotive inventory ads are reporting strong results.
Lexus Santa Monica drove 3.2X increase in detail page (VDP) views and 3X lower cost per VDP.
While, Castle Chevrolet, reported a 27 percent rise in reach using this new targeting solution.
Facebook notes, though the new automotive inventory ads help auto advertisers reach interested car buyers, they will not be able to learn any personal information about them.
In addition to advertisers, Facebook let people opt out of seeing automotive inventory ads at any time.
Simply, click on the upper right-hand corner of an ad to opt out.
Here is how the automotive inverntory ads work:
Automobile dealers using automotive inventory ads are need to first upload their car inventory along with car details, including make, model, year and location.
“When a car buyer research and compare vehicles across several car and dealership sites, Facebook explains they 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.”
With upgraded Facebook Automotive Inventory Ads, dealerships can now reach more potential customers who have expressed interest in purchasing a vehicle online.
The newly upgraded automotive inventory ads are now available to all advertisers companies family of apps and services, including Facebook, Instagram and Audience Network.