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02.07.2021

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Advertising payback 56 times from the first month in the United States

Autoconnection

The topic of car lending is widely demanded in the US market, but also the level of competition is very high, both small local used car dealerships and large network car dealerships with a long-established brand compete for attracting customers.
In addition to the above, it is important to note that the subject of credit, in targeted advertising, is a “special category”, and requires strict compliance with advertising rules, as well as the impossibility of using detailed target settings.
At the start of advertising campaigns, the results of minimal efficiency have already been obtained, namely:

  • Cost of 1 lead: $7.56
  • Valid lead: 15 per cent
  • Vehicles sold: 0 per cent

After analyzing all the indicators of the advertising campaigns, the first step was to segregate the audiences and select the proposals for the audience, since it is the proposal that we put in the advertisement, and successfully interacts with users for the sales department.
Already in the first week of cooperation the first car was sold, it is worth noting that the purchase of a car, it is not impulse purchase and requires careful processing of the client, and takes from a week to two. In the first week the number of valid leads was increased due to more memorable advertising creatives, which positively affected the conversion of the sales department.
By implementing a system for monitoring the quality of the leads received, adjusted advertising campaigns until the number of leads reached the client was 57% of the total number.
At this stage we started scaling up advertising campaigns and work on lowering the price of lead. Usually when it comes to scaling up, lead prices go up, but in our case, we’ve improved ad conversion rates and quadrupled the number of applications a day.
In the first month, the following results were achieved:

  • Lead cost: 4,89$
  • Valid lead:58 percent
  • Vehicles sold: 6
  • Average check: 22 768$

Return on advertising investments is in 56.5 times.

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