The Study
Monkedia's primary service offering for the dealership is driving web traffic to the dealership through social advertising aimed at increasing the sales and leasing of current inventory. The following provides an overview of the campaign that has achieved a remarkable ROI and has drawn the attention of many from within the industry.
Monkedia's Social PPC advertising program began with the dealer identifying three main campaign objectives: (1) increase new car sales, (2) increase used car sales, and (3) increase new car leases.
Once these campaign goals were set, creative was developed by Monkedia based on an in-depth study of Infiniti customer profiles and advanced advertising psychology. During the campaign, new creative was added featuring various strategic methods that would attract various target audiences.
For example, after running more traditional used car creative and messaging, new language and images were added. These new creative elements included messaging the ability for anyone to buy any price vehicle with the same user experience as those buying a luxury vehicle. Additionally, one month the advantages of service loaners was leveraged to increase sales and target excess inventory. This methodology of adding new creative has been repeated monthly throughout all campaigns with Monkedia to optimize the overall effectiveness of the program.
With the creative approved, specific targeting groups were established for each of the ad sets. The targets included, among others:
Proximity from the Dealership, Age, Income Profiles, Home Ownership Profiles, Website Remarketing, Current Customer Lists, Interest Targeting for the Brand, Interest Targeting for the Brand’s Competitors, DLX Targeting to Identify Current Owners, DLX Targeting to Competitors’ Owners, DLX Targeting to Those in Market for a Vehicle, DLX Targeting to Those Near Market for a Vehicle, DLX Targeting to Those in Market for the Specific Brand, DLX Targeting to Those in Market for its Competitors, Lookalike Audiences Based Upon Current Client Lists, Lookalike Audiences Based Upon Convertible Web Traffic
In total, hundreds of targeting profiles were created utilizing both these targets, as well as combinations of these targeting factors. This, thereby, created thousands of targeting criteria that were automated through Monkedia's proprietary platform.
Once the campaigns were identified, and hundreds of ads created within the finalized targets, Monkedia worked with the dealership to implement in-house processes to track ROI. These processes included:
Development of Ad Specific Landing Pages with Convertible Actions, Development of Convertible VDP Listings, Post-Purchase Surveying, Trackable Incentives
As the in-house processes were established and the ad campaign launched, Monkedia monitored the campaign daily and tested various ads by measuring ad performance based on cost per click and cost per conversion. Over time, the campaign efficiency steadily increased and eventually reached a click-through rate of over 2.3%. More importantly, Monkedia's optimization resulted in a client-reported $80 advertising cost per in store visit with the campaign responsible for the sale of 45 cars per month.
In all its social ventures, the dealership maintains the Monkedia unique approach to social advertising with similar monthly results as one of their lowest cost of sale advertising sources. Monkedia is proud to have serviced the client while seeing increased effectiveness and efficiency on a monthly basis.