Meet Lisa – Lisa’s a new mom and is in the market for a car to accommodate her growing family. She thinks she found the perfect mini-van at her local dealership, and decides to stop by the coffee shop adjacent to the dealer before closing the deal on the shiny red minivan she’s been eyeing.
But then, something changes. While in line for coffee, Lisa surfs the NBC San Diego app on her phone. A mobile ad offering $25 in cash to test-drive a car of similar make and model at another dealership nearby Land – a Car Country competitor – grabs her attention. Naturally, Lisa thinks, “why not?” Lisa clicks the ad, is directed to the offer, which she promptly downloads to her phone. She grabs her non-fat, double espresso vanilla latte and zips off to Automobile Land. An hour later Lisa drives off the lot with her brand new, dream car from a dealer she hadn’t initially considered – or was aware of beforehand.
What happened here? In mobile advertising, we call it geo-conquesting — a hyper-accurate, location-based consumer identification and targeting tactic designed to capture market share from competitors. Consumers are targeted and served ads based on their real-world actions and preferences, like the stores they visit or the locations they most frequent. So, when Lisa initially visited Car Country – Automobile Land’s competitor, she was served an attractive offer in an effort to nab that sale. Using third party, household level and mobile location data, Lisa was identified as living in a tony neighborhood with a median annual income of +$60,000. Given this information and her mobile device’s previous location data, it was safe to assume Lisa was in-market for a family car, and in this case, because of Automobile Land’s inventory, a mini-van ad was served.
But there’s more. Post campaign foot traffic models can accurately display how many people visited a location due to a specific ad. Furthermore, within the next year, dealer CRMs will be linked with campaign data to give exact ROI on specific initiatives.
You’re not dreaming! Say good-bye to the saying “half my advertising is wasted, the trouble is, I don’t know which half”. Never before has a clearer, 360-degree view of the consumer been so readily available for marketers. We can now accurately understand where consumers go, what they do, what they like and, ultimately, who they are as individuals and prospective customers. The future of marketing is here; don’t let your lots get left behind.
Learn How Location Is Changing The Game For T3 Automotive Dealers and more at the 100+ sessions, workshops and case studies at the 18th Digital Dealer Conference & Exposition from April 21-23 in Tampa, FL!