Leveraging Video and Social Media in Advertising
The automotive industry is one of the largest industry spenders on digital advertising and 2017 hasn’t been any exception. If the reports are to be believed, the industry is expecting to spend as much as $14 billion on automotive digital marketing services by the year 2020. As modern customers have begun relying more and more on the internet to inform their purchasing decisions, automotive dealerships must shift their focus on boosting their digital presence.
Thanks to the ubiquity of video-driven social media platforms and online channels, the popularity of video marketing has been expanding. Video marketing plays a key role in connecting with potential customers. According to the statistics and reports published by the leading automotive marketing agencies, online video ad spending increased nearly 30% from 2015 to 2016. Over 60% of businesses plan to increase their online video spending and 70% of brands plan to invest in social video advertising in 2017. High quality video with informative and engaging content can build trust and authority in a brand which further generates sales conversions.
Gone are the days when potential buyers sought the guidance of dealership sales staff before making a purchase. More people are turning towards word-of-mouth recommendations and online reviews. In short, automotive digital marketing services and traditional sales concepts should be integrated to entice customers and generate sales leads. According to industry reports, companies with synchronized sales and marketing efforts reached 36% higher customer retention rates and 38% higher sales. Introducing new analytics tools and digital solutions can help in integrating marketing channels and sales techniques.
Facebook, Twitter, LinkedIn, Pinterest, Instagram and many more social networking sites have introduced revolutionary changes in the way we live and interact with each other. These present businesses with unprecedented ability to leverage social media platforms to connect with their audience. Advanced targeting options, reliable conversion tracking and prevalence on mobile devices are some of the main factors that contribute to the exploding popularity of social media advertising. Advertising spend on social networks is forecasted to reach $36 billion this year
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