The year 2020 brought about a decade’s worth of changes in the consumers’ journey. It has sped up the rise of e-commerce on social media platforms. Facebook launched Shops and live shopping tools like QR codes, stickers, and shop tags on its family of apps. Lately, there’s an increase in the influence of social media when it comes to auto purchases. Around 77% of automotive buyers cited that a social media post makes them consider buying or leasing a new car model. As such, Facebook adds inventory tools for auto dealers. This is to help them leverage marketing within the platform.
The updates are initially available on Facebook Pages of auto dealers in the United States. These include:
- A “Manage Inventory” tab on the dealership page. It’s an all-in-one section where auto dealers can create new catalogs, update the existing lists, and view insights of the listing’s performance. What makes it easier for a dealer is that they can create a catalog from an existing inventory on their company website.
- A “Simplified AIA Set-Up” (Auto Inventory Ads) tab on the manage inventory tab. Dealers can select an existing or new catalog and use a pre-filled template to create an ad or promote the catalog. The templates suggest the right vehicle to the right person at the right time based on Facebook’s AI insights.
- A “Vehicle” tab on the dealership page. It’s a new on-Facebook surface where auto dealers can exhibit a full inventory of available vehicles. Viewers can filter the vehicle tab based on body style, color, make, mileage, model, price, and transmission type.
Facebook adds the abovementioned inventory tools for U.S. auto dealers on 03 December 2020. Hopefully, it will be rolled out globally in the coming months.
Implications for Marketers:
Facebook’s new inventory for auto dealers is a great option to hone potential car buyers in the platform. It may not seem very popular right now but, marketers who are looking to promote automotive dealerships should consider trying out these tools. Facebook is continuously improving its car listing on Facebook Marketplace. So, these tools can be a key option to increase the discovery of automotive brands and models.