Let’s move further into the TraDigital funnel. Search has always been one of the cheapest costs per lead. How do Google VLA (Vehicle Listing Ads) change this? We’re testing it and watching closely!
That being said, years of optimization and longevity with our clients allow SI Auto a very healthy $16.62 cost per lead, compared to a $42.95 benchmark for vehicle ads on Google search.
As the industry evolves, so do our search campaigns. We began piloting dynamic search ads in the spring of 2022. The ads are powered through a connection to your inventory feed; when a vehicle is in stock, we will run ads for it, and while it is not available on the lot, we will turn those ads off. This set-up does allow for manual overrides for always-on or always-off models, and other customizations based on your specific needs
As inventory shrank and incentive-based ads ceased, dealers needed ways to go beyond branding ads and still promote their vehicles.
Facebook dynamic inventory ads increase personalization to the end shopper, which results in more clicks, higher CTRs and ultimately more leads.
The benchmark CTR for vehicle ads on Facebook is 0.80%; over the past 12 months, SI Auto has averaged a 2.44% CTR across all our Facebook ads. And among just our dynamic ads on Facebook, we’re seeing an average 3.99% CTR.