In May of this year, we held our second annual Streaming Automotive Summit with industry leaders discussing the rapidly evolving landscape of automotive streaming.
Below are some key takeaways from the summit’s various talk tracks and panels and our thoughts on how they will affect the automotive industry in the second half of this year.
Customer Spotlight: Understanding CTV
One of the critical discussions at SAS 2024 centered around the current state of Connected TV (CTV) services in the automotive industry. Many dealers have adopted an CTV strategy without fully understanding its impact. CTV is the process of distributing long-format video content to viewers directly over the internet, without the involvement of cable or satellite.
The consensus is that while dealers are investing in CTV, the lack of clear attribution and measurable outcomes often leads to skepticism. In order for CTV to have a place in the automotive industry, there needs to be better education and tools to measure the effectiveness of CTV campaigns.
Inventory Panel: App Spoofing and Transparency
App spoofing emerged as a significant concern during the inventory panel. The issue involves fake app IDs mimicking legitimate ones, making it challenging to differentiate between authentic and counterfeit inventory, and leading to inflated impressions and skewed metrics. The panel emphasized the importance of transparency and working with trusted partners to mitigate this risk. Dealers were advised to scrutinize their inventory sources closely and ensure they pass the “sniff test”—if something seems too good to be true, it likely is.
Measurement Panel: Connecting the Dots Across Devices
The measurement panel delved into the complexity of tracking consumer interactions across multiple devices, including mobile phones, tablets, desktops, and Connected TVs. With an overwhelming amount of data flowing through various touchpoints, the challenge lies in connecting these interactions to form a coherent customer journey. The future of automotive streaming will likely involve greater collaboration with identity partners to ensure seamless and accurate tracking across all devices.
Metrics That Matter: Aligning Marketing and Business Goals
A recurring theme was the disparity between marketing metrics and business outcomes. Many marketers face the dilemma of achieving impressive marketing metrics that don’t translate into business growth.
The panel stressed the importance of focusing on market share impact as the ultimate metric of success. Effective marketing should not only look good on paper, but also drive tangible business results. EMG’s success over the past six years has been attributed to this results-oriented approach.
Retail Automotive: Inventory and Brand Loyalty
The summit also covered trends in inventory levels and their correlation with brand loyalty. As vehicle inventory continues to recover from previous lows, brand loyalty is expected to rise. This positive trend is encouraging for dealers looking to rebuild customer relationships and drive sales. The discussion highlighted that inventory levels had more than doubled, signaling a return to normalcy and providing a stable foundation for future growth.
Streaming Keynote: The Rapid Evolution of Streaming
The keynote address emphasized the rapid evolution of the streaming landscape. With platforms, apps, and content constantly changing, the next decade will be crucial in determining the winners and losers in the streaming space. The competition is at its peak, and the decisions made now will shape the future of automotive streaming.
The EMG Streaming Automotive Summit highlighted the challenges and opportunities in the automotive streaming space. From understanding CTV’s impact, to tackling app spoofing, to aligning marketing with business goals, the insights shared at the summit were invaluable for dealerships and industry partners.
By focusing on transparency, collaboration, and results-driven strategies, the automotive industry can navigate the complexities of streaming and emerge stronger in the digital age.
