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Study: Local hot for auto advertisers
Location based targeting is hot for auto advertisers. According to new data out from Verve last year only 5% of Tier 1 auto advertisers used location based targeting but for this report 22% of Tier 1 auto campaigns used location based targeting options.
For auto advertisers as for Realtors, it's all about location. That is the takeaway from Verve's State of the Auto Market" report which shows an increased use of location based targeting for both Tier 1 and Tier 2 auto advertisers.
Verve studied 125 campaigns across their network and found that those using geo-fencing and geo-conquesting targeting options drive three times as much foot traffic to dealer lots as those not using location tools.
"Some agencies and marketers might be surprised by both the volume and effectiveness of location-based mobile marketing that is happening across all three tiers of the auto space," said James Smith, CRO of Verve. "It began with Tier 2 auto marketers driving people on to their lots, but now we're seeing Tier 1 marketers who are finding location-based audience segments are highly effective at targeting in-market auto shoppers. Tier 1, 2 and 3 auto advertisers each have different needs, campaign goals and marketing tactics to reach consumers throughout the purchase funnel, and across-the-board we're seeing that location-based mobile's flexibility and ability to run goal-specific, sophisticated campaigns delivers meaningful metrics for each of them."
Other interesting findings from the report include:
• 76% of Tier 2 campaigns used location based targeting
• 22% of Tier 1 campaigns did so
• Location-based initiatives out-performed non-LBS by 60%
• Most brands used audience or DMA targeting or geo-fencing
Image via Shutterstock
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