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Over 40% of the largest dealer groups in the UK are wasting budget on Facebook by not using the platform’s tracking capabilities, according to research by Radar Video.
The research tracked Facebook usage amongst the top 50 groups in the Motor Trader Top 200 and found that while most dealers have a Facebook page and advertise on the social network, only six out of ten use a Facebook Pixel, which allows companies to track individuals who click on ads and serve them bespoke offers.
The study, by the specialist automotive video services company, found that 42% of the top 50 groups are not not using the platform’s tracking capabilities.
“Businesses value Facebook’s billions of users but often miss the value it offers by precise targeting. Retargeting allows brands to target buyers with tailored offers, which maximises sales and the return on marketing investment,” said Derek Blair founder of Radar Video.
“Tracking pixels make retargeting possible. They store a piece of data in your browser called a cookie. Online shopping carts are an excellent example of cookies providing value to customers.”
According to recent reports, Google and Facebook will account for more than 70% of all money spent on display advertising online in the UK by 2020. In the UK over 30 million people use the platform, and around 70% of them log in every day.
The study examined the social media marketing of the 50 largest dealer groups in the UK.
Facebook is the world’s largest social network with over 1.5bn monthly active user and over 1bn daily active users. In the UK over 30m people use the platform, and around 70% of them log in every day.