Is Social Advertising a Waste?

Value of Social AdvertisingIf social media sites such as Facebook, Twitter, and YouTube are not direct sales channels, then why should you spend your time and money on them? Two words: Social Advertising.

Similar to traditional advertising methods, such as radio and TV, social advertising is a form of brand building that helps you introduce yourself and reinforce your message. But, unlike traditional ads that only enable one-way communication, social advertising also enables you to speak directly with consumers. Today’s consumers use social channels to seek information on businesses, search for opinions and reviews about specific vehicles and dealerships, and look for sales or service specials. Simply put, you need to invest in social advertising so your message is where your customers are!

With that in mind, here are some results Naked Lime customers are seeing:

Facebook:
By shifting just a small percentage of overall ad spend from traditional advertising to Facebook Ads, Promoted Posts, or Sponsored Stories, our customers have seen their “Likes” increase by an average of 35.8%.  A recent study reported that in the last 3 years, the value of a Facebook fan has increased by 28%, from $136 in 2010 to $174 in 2013. Each new “Like” increases the reach of the message and helps put the dealership brand front and center for people who may not have seen it otherwise. Even if they are not actively car shopping on Facebook, it is far more likely that they will recall the dealership’s name when they do begin the buying process.

Twitter:
Typically, our customers who begin advertising on Twitter have seen their follower counts double. With the ability to target the dealer’s location specifically, our customers are gaining followers in their local area and increasing the value of followers’ interaction with the dealership.

YouTube:
YouTube also is a more cost-effective social advertising method because dealers do not pay unless the consumer views at least 30 seconds of the video. By shifting minimal amounts of the dealer’s overall ad spend budget, our customers are experiencing good traction on YouTube, including high numbers of video views (2,000+), as well as significant increases in customers coming from YouTube directly to dealers’ websites.

No, social advertising is not wasted money. It can help you reinforce your brand message and engage consumers, ultimately impacting consumers’ intent to buy or service their vehicle at your dealership.

If you are not sure how to get started with social advertising or want to improve your results, call us at 855.NKD.LIME (855.653.5463) or visit Naked Lime Marketing for more information.

(This article originally appeared in the Naked Lime Fresh Squeeze newsletter. Read more here.)