One of the fastest growing digital advertising tactics in the auto industry is video. Many auto dealers have already incorporated video into their digital marketing strategy. Some understand the value of video, but others simply buy into it because they see competitors doing it. While keeping up with your competitors is never a bad thing, you should take the time to understand the value of your marketing investment.
So, why video? Because every day, the number of people moving away from traditional television and toward online content is growing. Although these online TV viewers, or “cord cutters,” are mostly made up of millennials, older generations are also starting to jump on the bandwagon.
We recommend following Google’s advice to take 15% of your current TV advertising budget and use that for your online video advertising budget.
If cord cutters aren’t reason enough for you, then consider the following:
- 30% of car buyers were prompted to start shopping after viewing a video ad
- 40% of purchasers decided which brand to purchase based on an online video ad
- 61% of auto buyers visited a dealership after viewing a video ad1
Even though video can influence purchasing behavior, it should be thought of as an awareness play, much like display advertising. Don’t expect to see a large number of leads coming solely from video campaigns, instead leverage the medium to supplement and strengthen your digital marketing mix while building your brand.
If you aren’t keeping up with marketing trends, you are missing out. To learn more about video advertising and how we can help you develop a robust marketing strategy contact the Search Optics team today.
1Source: Google Auto Study