In terms of direct ROI, search advertising is the most effective channel for low-funnel lead capture. But that doesn’t diminish the value of video, display, and social advertising.
Once you’ve determined the number of low-funnel leads you’re generating monthly and are utilizing search advertising to increase that number, it’s time to expand your focus to other advertising channels to help hit your monthly lead target or grow your opportunity.
Display, video, and social advertising can be used to reach in-market, low-funnel leads, as well as shoppers who may be a little farther up the funnel. Compared to traditional advertising methods like TV, radio, and billboards, where you’re serving ads to the masses, display, video, and social media platforms allow you to hone in on the specific shoppers who are relevant to your sales organization.
Target Low-Funnel, In-Market Audiences with Dynamic Ads
The laser-focused targeting that’s available for the Google Display Network, YouTube, Facebook, and Instagram helps narrow your reach to the specific users who are interested and in-market, so you don’t waste any effort or ad spend. And with dynamic content, you can personalize the ad experience for each customer, resulting in higher conversion rates and lower costs across campaigns.
Dynamic remarketing campaigns enable you to feature actual inventory in the display creative. With dynamic ad tech, you can show previous website visitors the exact inventory they looked at on your website. This level of personalization is highly effective; in fact, compared to static remarketing campaigns, dynamic display ads have a 2x higher conversion rate and an 18% lower cost-per-conversion.
Dynamic advertising is also an effective option on Facebook. Businesses can run inventory-specific ads that direct traffic to an exact piece of inventory on their website. In our experience, these dynamic Facebook ads result in a 2x higher click-through-rate, 47% lower cost-per-click, and 3.4x more conversions compared to generic ad creative.
Dynamic video is relatively new to the market, but already an effective option for showing inventory-specific ads to users who are in-market for a specific vehicle or piece of equipment. Compared to brand-heavy advertising that you typically see on YouTube, dynamic inventory video ads have a 1.4x higher view-through rate and 2x higher click-through-rate.
Use Lead Capture Opportunities When Possible
In addition to dynamic ads, you can use specific ad types on Facebook and YouTube as lead capture opportunities. Facebook Lead Forms, Youtube for Action, and YouTube Lead Forms directly generate leads, as opposed to gathering a higher-funnel audience, and are especially effective in automotive.
Choose the Right KPIs to Measure Success
To measure the success of your display, video, and social campaigns, you can use a variety of standard KPIs and benchmarks, including CTR, view-rate, and cost/view. With the addition of user-level tracking, you can also track conversions (phone calls, forms, chats) and the number of qualified sales prospects and sales generated from each platform.
Sounds good, but not sure where to start? Adpearance can help you exceed your lead generation goals in 2021. Reach out for a free digital analysis to learn more.