by: eXelate Marketing
According to eMarketer, the auto industry spent $5 billion in 2013 on digital advertising. They are ramping up to spend $6.15 billion in 2014, an increase over 18% – and it will only continue to rise. If it keeps at this pace, automotive will be one of the largest segments in the US for digital ad spend, second only to retail.
So are these dollars leading to automotive purchases? Shouldn’t we know? We all know that digital campaigns often are more cost-efficient than TV, and provide the kinds of targeting, interaction and measurement benefits to more effectively reaching desired audiences. Timely and comprehensive campaign analysis is what’s needed to ensure that auto advertisers are spending wisely. And that’s been impossible to find, even in digital. Until now, you could only see what worked by looking in the rear-view mirror, and the exhausting process took months – with results coming far too late to guide marketing decisions.
Marketers need to be able to adapt to campaigns in real time to see who is in their consideration funnel and how they can better create messaging to these folks to get them to buy. Not only should marketers not have to wait to see what consumers are responding to, they need to be able to get the census-level insights of their consumers without the overhead of expensive research and intelligence tools. This will help better reach auto buyers as well as improve creative delivery.
Marketers simply need to know if what they’re doing is working. It’s time to bring some innovation to a stale process.