In another indicator of how TV and video advertising are becoming more data-enabled and precise, Videology announced a partnership this morning to incorporate Autobytel’s anonymized first-party buyer-intent data into its platform. Autobytel collects data from approximately 8 million consumers per month at its various properties.
The data will enable marketers to more accurately target consumers who are actually in the market for a car, using their own preferences for brands, price points and features. Given the longer consideration time associated with buying a car, marketers’ ability to implement specific “lower funnel” marketing messages aimed at in-market buyers is much more efficient.
Underscoring how valuable the Autobytel data set is, according to J.D. Power’s 2015 New Autoshopper study, 80% of new car Internet shoppers research their options on third-party sites like Autobytel. A separate study by IHS Automotive indicated that between 2011-2015, 2.5 million new car sales, or 4% of the entire market, derived from leads consumers submitted to Autobytel properties.
Clearly, the ability to marry data about consumers’ purchase intent with video ad buying has significant potential to lift purchase conversion even further, especially as people watch more video on devices. This viewership and the targeted ads it can support complement the broader brand-oriented TV ads that car marketers will always rely on to build awareness.
(Note: Targeting using multiple data sources will be a key theme at our SHIFT // Programmatic Video & TV Advertising Summit on Wed. Nov. 30th. Videology’s CEO Scott Ferber will be moderating our session “Succeeding With Multiscreen Video Campaigns.” Learn more and register now!)