ATLANTA – PureCars, a leading provider of digital marketing and advertising insights for automotive dealers, announced the release of PureCarsTV, a programmatic OTT buying solution built exclusively for automotive advertisers.
The ability to reach a larger number of people through a growing medium at a low price point, while taking advantage of the great data segmentation for personalization offers a number of benefits for dealerships today.
OTT (Over The Top) Video refers to any video delivered to the end user without the assistance of broadcast airwaves, or a set top cable or satellite TV box. OTT audiences are inclusive of SmartTVs from a multitude of manufacturers, and Connected TV Devices including Amazon FireTV, Google Chromecast, Roku, Apple TV etc, and is also inclusive of other online delivered video on Video platforms like YouTube, Vimeo, Facebook, and Instagram.
Today’s online ecosystem offers an ideal medium for the delivery and consumption of video advertising formats. Unlike traditional television, the internet is universal in how it delivers content and is a far more granular and targeted environment for the delivery of advertising messages. CTV has become critical for dealers and agency partners looking for a complete-funnel solution to leverage audience reach and deliver messages to local car shoppers. Industry estimates show that CTV households are expected to grow 82% by 20231, and cord-cutter and cord-never households will increase to 44% of the population2 during the same period.
Through PureCars’ OTT digital advertising services, automotive dealers can broadcast OTT ads to their locally targeted audiences using data-driven programmatic ad purchasing methods. OTT advertising for dealers is essential today for optimized advertising personalization and should be a cornerstone piece of every dealer’s demand generation strategy. With PureCarsTV, local dealers can deliver a specific ad to a particular in-market shopper or household. Instead of running the same ad for all viewers of a TV show, dealers can run a variety of ad spots to different people depending on their purchase intent, behavioral markers, and any number of household demographics or characteristics. While watching similar programs, consumers will be shown different dealership ads that better correspond to their likes, interests, age, level of income, etc.
Through PureCarsTV, dealers can average lower than $35 CPM and ensure those impressions are only delivered to their target audience, which helps eliminate wasted ad dollars commonly associated with wide scale broadcast or cable television buys. A well-structured broadcast or cable television buy would conservatively range from $7-$20+ CPM, across all viewers, whether the audience is in the market to buy or not.
As dealerships experience ongoing margin erosion, it’s important for them to explore opportunities to optimize historically wasteful traditional media channels. Currently, 49% of all video ad impressions today are through OTT channels5, and the lower CPMs mean dealers can reach in-market shoppers with more frequency, and less wasted dollars in their finite ad budget. To accurately compare traditional to digital, advertisers must apply calculations to the amount of in market shoppers that are reached by each campaign type. For instance, when assessing TV, assuming 11.51% (14.8 MM SAAR projected for 2020) of households will buy in a given year3, and a 3 month purchase cycle4, that would put the conservative effective CPM for in-market shoppers reached in traditional television between $230 and $689 vs. $30-40 CPM in highly targeted OTT.
“Consumer migration to internet-enabled TVs and CTV devices represents a unique opportunity for dealers and their agency partners to reach more potential car shoppers,” said Jeremy Anspach, CEO of PureCars. “The ability to reach a larger number of people through a growing medium at a low price point, while taking advantage of the great data segmentation for personalization offers a number of benefits for dealerships today.”
1: eMarketer, Connected TV Households, July 2019, US Population
2: eMarketer, July 2019, US Population
3:https://www.globenewswire.com/news-release/2020/09/25/2099304/0/en/TrueCar-and-ALG-Forecast-New-and-Used-Vehicle-Sales-for-September-2020-and-the-Third-Quarter.html#:~:text=Total%20SAAR%20is%20expected%20to,down%201%25%20from%20August%202020.
4: https://www.coxautoinc.com/learning-center/2019-car-buyer-journey-study/
5:https://www.marketingdive.com/news/connected-tv-spots-make-up-49-of-all-video-ad-impressions-study-says/557639/#:~:text=Dive%20Brief%3A,Reach%20shared%20with%20Marketing%20Dive
