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You likely have a solid grasp of the online marketing techniques that work effectively for your dealership, you know that delivering relevant information to the right people, at the right time, is key to your success. Dynamic inventory ad creative is a concept that’s relatively new to most peoples’ marketing tool box, but it has been experiencing explosive growth and the trend is expected to continue.
Dynamic inventory ad creative is an important digital marketing tool for auto dealers because it allows dealers to personalize the ad for each user. It’s been proven to increase the effectiveness of online advertising campaigns by delivering a better experience before and after the click. Dynamic inventory ad creative has significant advantages over a non-custom approach, and as a result, it is more cost effective even if it has a higher sticker price. When you consider the high percentage of clicks resulting in direct VDP and SRP views to most campaigns, which may net only 20 to 25 percent VDP and SRP views, the ROI is easy to understand. You would have to buy 4 or 5 times as many clicks to get to the same volume of VDP/SRP views as a well run Dynamic Display Ad Program, which can deliver up to 100% of it’s clicks to the Vehicle Detail or Search Results Pages.
The Power of Dynamic Inventory Ad Creative
Most big name ad exchanges have provided online marketers with a wide range of tools to capture the attention of targeted Internet users. The current influx of consumer data serves to amplify the importance of dynamic creative for digital marketing, as we now know more about buying habits, trends and purchasing, than ever before. For example, networks like the Auto Audience™ Network are able to match the make, model, and year of the vehicles being researched before the consumer ever reaches a Dealer’s website.
There are many ad exchanges focused on qualifying prospects that fit certain criteria, and then selling ads against those segments to dealerships with varying results. However, the latest in online marketing tools enable marketers to capture an individual qualified prospect at the right time, and when showing them the right vehicles the results have been impressive -- in both cost-effectiveness and scale.
Sophisticated Targeting Needs the Right Message
The technology that helps us to deliver the interests of individual users is meaningless if it doesn’t have the content to support it. Cashing in on dynamic inventory ad creative means combining the target audience data with a compelling message that is extremely relevant to them. For example, you typically wouldn’t serve a convertible sports car to a demographic profile like this — Retired Female 65+ living in Chicago who has been behaviouraly segmented as an Auto Intender. The typical marketing plan would suggest that an appropriate vehicle might be a Honda CRV or a Toyota Corolla. But with data targeting the individual user the old way of using broad stereotypes and demos like Male 18-49, or Female 25-54 are all but gone. Now with one to one user targeting we know that this Kick-Ass-Grandma is in the market for the new BMW M3 convertible and Dynamic Inventory Ads can deliver that specific vehicle from her local BMW Store — Go Grandma Go!
How Dynamic Inventory Ad Creative Works
Without getting overly technical, dynamic inventory ad creative operates by breaking down an ad into its separate components and developing different content to fit within each piece. The concept is similar to a rooms floor plan where you can swap out different furniture to get a range of styles. Effectively, it is a template waiting to be filled with the right vehicle content. Such as, Image, Vehicle Make, Model, Year, and Price. Once you have your ad with its separate puzzle pieces, you add the engaging content. The content will vary depending on what the ad network knows about the user, and it will rotate your vehicle inventory according to that data on each user.
The first thing you’ll notice when you look at an ad that has been optimized with this approach is that the message is more relevant, and this is why dynamic creative is important for automotive retailers. This type of ad speaks to the individual buying a car based upon their specific known interests, rather than a group of potential auto purchasers in a broad category or stereotype. Dynamic creative can be refined to the specific vehicles that the user has been researching – right down to the VIN level.
Dynamic inventory ad technology informs the buyer which local car dealership features their chosen vehicle, and gives them specifics on the models in stock. The design templates used in dynamic creative are typically flexible and simple to use, so they enable you to experiment with style and aesthetics. When consulting with an a vendor or your agency, ask about the how the ads are served. They should be delivered via an Ad Tag. If the ads are Flash or Gif files, they are likely not completely dynamic.
The Bottom Line
The advantage dynamic creative offers to digital marketing is clear – it's the online display ad tool that enables you to deliver highly personalized content to qualified car buyers at the right time. For your dealership, it's a necessary component of your online marketing strategy.
If you have any questions about this or any other part of your online marketing activities, please feel free to comment on this blog or contact me directly via LinkedIn or at the office. I’m always happy to to help.