MIAMI -- The auto industry is a pretty specific one. Despite the end products being badged by just a handful of marques, it is individual local dealers, and not the brands themselves, with whom customers end up transacting.
Not only that. Despite copious research being carried out online, most purchases are overwhelmingly still made on the forecourt, rather than the website.
TV and video ad-tech vendor Videology is attempting to square these circles for car dealership that, hitherto, have lost out when it comes to targeting the most likely customers. It has struck a deal with car info and listings publisher Autobytel, leveraging its audience data to target TV and video ads.
"Approximately eight out of every 10 car buyers goes to an automotive website to do research before they buy it.," Videology CEO Scott Ferber tells Beet.TV in this video interview. "So there's this massive amount of intent data. However, one of the most effective mediums for driving total sales and purchasing of cars is through video and television.
"We can take the 8m unique consumers that visit the Autobytel website, we understand what cars they were looking at, what price points they care about, what features they car about, we can append that information to the panels.
"Now we can help the planning, buying and execution of the television, video and investment teams to say, 'Where are the automotive intenders that I would like to drive to my dealership?'"
The Drum reports further on the deal.
Ferber says the prospect is a "lower-funnel opportunity", meaning it can best help dealers target consumers who, through conducting research on specific models, are close to the point of purchase - as opposed to early-stage customers who are yet to ignite specific interest.
This interview was conducted at Beet Retreat 2016: The Transformation of Television Advertising, an executive retreat presented by Videology with AT&T AdWorks and the 605. Please find more videos from the event here.
You can find this post on Beet.TV.