retargeting car shoppers with high intent to buy increases conversions 60%
Previously we used “interest targeting” to connect with an audience looking to purchase a vehicle. While this resulted in significant impressions, we had little to no understanding when it came to the intent of the user. We wanted to move users from awareness to conversions.
We implemented a new Facebook campaign using a strategy called dynamic retargeting. We targeted users who had previously viewed specific vehicles on the Maguire website but had not completed a lower funnel conversion such as scheduling test drives, calls, and looking into financing options. With dynamic retargeting we were able to serve these customers with high purchase intent an ad that contains their exact viewed vehicle.
decrease in cost per click
decrease in cost per conversion
increase in conversion rate
We saw facebook cost per conversions decrease, cost per click decrease, and conversion rate increase. A decrease in cost per conversion demonstrates we were receiving more conversions for the same amount of money. A decrease in cost per clicks, indicates we received more clicks for the same budget, and an increase in the conversion rate suggests that for the amount of views our ads received, more people converted than from the prior period.