New automotive marketing terminology & buzzwords are popping up all the time in marketing. SEO, content marketing, and influencers, are some common terms most marketers are familiar with. But when it comes to automotive marketing, the terms and their abbreviations can certainly be confusing. What is VDP? What is Conquesting? What is CTR? What is remarketing or retargeting? What is a sales funnel? What is impression share? What is a BDC? A KPI? ILM? ADF? Many of these can be confusing, but ultimately, these are keywords that your agency of records needs to not only be familiar with, they need to eat, breathe and sleep it!
Automotive Marketing Terminology
Artificial intelligence (AI) is one of the buzziest buzzwords in 2017 for automotive marketing terminology, and that trend appears to be doing nothing more than gaining momentum as we head into 2018. Non-marketing lay people might think iRobot or something equally freaky when they hear that term, and maybe in the 1950’s, when AI first took hold, they would have been eerily accurate. John McCarthy, a math professor at Dartmouth college, began research based on the idea that, “Every aspect of learning or any other feature of intelligence can in principle be so precisely described that a machine can be made to simulate it.” And so people have been doing so ever since. And we are getting better and better at it. But what does this mean for automotive marketing companies?
Google, Amazon and Apple seem to be leading the way with this technology that has the potential to revolutionize life as we know it, and now automotive marketers are harnessing it as well to help their clients acquire new customers, build brand awareness, and draw attention to their auto dealerships online presence.
For example, when executing an online marketing campaign, one of the first things you need to determine is your traffic source. This is the platform where you will execute your campaign based on the type of audience you intend to target. Where does Artificial Intelligence play in? Well, it can recommend marketing channels based on your objectives as well as data from previous campaigns. Additionally, it is continually optimizing selections for future campaigns based on results. In other words, each campaign helps the AI learn what works, what doesn’t, and how to improve for the next campaign.
AI also analyzes historical data to help you enhance the criteria you use to target your exact audience. There’s no point putting all your ad dollars into a Facebook campaign if in the past the majority of your VDP views came from Pinterest or Instagram.
Artificial intelligence analyzes massive amounts of data to find patterns to help you nail down the best performing designs and placements for your ads, enabling you to optimize your budget, control spending, and reduce wasted ad spend.
The bottom line is: Artificial intelligence is far more than just another buzzword and has proven that it can and will yield substantial benefits in today’s automotive marketing campaigns.
Are you prepared for what will no doubt be a really exciting future? Green Arrow would love to partner with you and take your automotive marketing game to the next level. Give us a call at 888-248-2134 to learn more about how our Automotive Marketing Team can help increase sales for your dealership!