Follow the Customer, Get the Sale – How To Reduce Wasted Ad Spend
You’ve no doubt heard the old chestnut, “I know half of the money I’m spending on advertising is wasted. I just don’t know which half.”
It’s never been more important to find out.
As the smart folks at Signal explain in this article, there are some very common ways advertisers are wasting money. Unsurprisingly, the technology that was supposed to make life easier has just added more hoops to jump through. Consumers are on the move, and on multiple devices, making targeting imprecise, and frequently just wrong. Cookies have become unreliable, and often plain worthless. And even the omnipotent Google and Facebook still have a tough time tracking outside of their own universes.
But, there are ways to stop the bleeding. One of the most effective methods of minimizing wasted ad spend is moving away from media placements and impressions, and moving toward marketing to actual humans. (Take a look at our previous post about people-based marketing.) It’s the most, and perhaps, at this point, only, way to help make sure you’re addressing cross-device issues – and minimizing waste.
As our earlier post on the key to successful advertising explained, the single most effective thing dealers can do to make sure their spending is as effective as it can be is to find out how many online views – from every source – each VIN receives . Then, the task is to shift spending to the ones that need the most attention .
Of course, if you don’t know what’s broken, you can’t fix it. That’s where our VIN View Optimizer can help. Think of it as an x-ray for your inventory. It’ll show you which cars on your lot are already getting the views they need to turn on time, and which are in trouble of lagging behind. . You can create your free VIN View Optimizer report, right now.