New research from HPS reveals that Facebook is capturing automotive ad spend with new ad formats
New research published in HPS’s fifth Automotive Facebook Advertising Benchmark report has revealed that new ad formats are helping the social media giant to capture an increasing share of automotive advertising spending.
The research shows that, throughout Q3, marketers have continued to increase mobile ad spending on Facebook, both globally and in the automotive industry. Carousel advertisements, in particular, have gained in popularity rapidly, with an increase of 55 per cent more campaigns than seen in Q2 of this year.
Martin Watts, associate director of digital marketing with HPS, said: “The volume of automotive retailer campaigns continues to grow with more and more retailers seeing the benefits to their business. We’re starting to see more retailers run Facebook campaigns for servicing and aftersales. Used car listings are proving to work exceptionally well with Facebook’s carousel ad format. I think we could see a real shift in spends away from dedicated used car sites over to Facebook and Instagram as we head into 2016.
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“There are a lot of exciting new Facebook ad products available now and in the near future that will really make a difference to automotive retailers, such as the recently launched ‘lead gen ad’. We’ve run some trials and have seen the cost per lead drop by nearly 80 per cent when compared to ‘Click to website’ ads. “
HPS’s fifth Automotive Facebook Advertising Benchmark report is available to download for free.
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