InMarket Launches Incremental Sales Lift for the Automotive Industry
LCI for the automotive industry is a closed-loop attribution platform that provides incremental sales and visit lift metrics.
Topics
InMarket, a real-time marketing and measurement provider, has announced the launch of its Lift Conversion Index (LCI) for the automotive industry.
LCI for the automotive industry (LCI for Auto) is a closed-loop attribution platform that provides incremental sales and visit lift metrics, empowering automotive brands and dealers to measure and understand the real-world outcomes of their advertising including vehicle purchases and incremental return on ad spend (iROAS).
By connecting omnichannel media to purchases, LCI for Auto provides a truly insightful view into auto advertising performance, enabling brands to:
- Measure real-world auto consumer engagement with a closed-loop study that attributes dealership visits and sales to campaign performance.
- Optimise media spend inflight throughout the campaign, including always-on creative, offer and media optimisation.
- Improve campaign strategies with actionable performance insights.
- Inform partner decisions based on visits, preferred dealership locations, purchases after impressions and competitive visits, consideration and market share.
“Understanding the impact advertising has on driving incremental sales continues to be a top priority for marketers. This solution brings that powerful capability to auto advertisers nationwide,” said Todd Morris, CEO of InMarket.
“LCI for Auto not only closes the loop on this high-ticket investment, but enables marketers to optimise every dimension of their media to ensure that every advertising dollar drives shoppers into the dealership and off the lot in the vehicle of their dreams.”
Leading up to the launch of InMarket LCI for Auto, InMarket worked closely with select partners and clients to finetune the solution. As part of InMarket’s Preferred Measurement Partnership with Snapchat, auto advertisers on the platform gained early access to the solution, enabling them to better understand the online and offline outcomes of their Snapchat campaigns.
In the pilot program, a leading auto manufacturer worked with InMarket and Snapchat to measure the impact of its SUV campaign in driving dealership visits and auto sales. Combining the reach of Snapchat’s advertising platform with LCI for Auto’s always-on attribution capabilities, the auto manufacturer experienced a remarkable 31.6% incremental visit lift and 24% incremental sales lift. Overall, the program generated over $5.7 million in incremental sales. InMarket LCI’s in-depth reporting also provided the brand’s marketers with key insights into top-performing markets and SUV models, showcasing opportunities to optimise inflight and future campaigns.
“Given the nuanced purchase patterns and hefty price tags associated with auto purchases, measuring campaign success can be complex. Our phenomenal pilot program showcases the impact auto advertisers experience when combining Snapchat’s advertising capabilities and reach with InMarket’s real-time, comprehensive measurement solution,” said Katelyn Kroneman, Director of Client Partnerships, Snap Inc.
“Over the past few years, we’ve seen the incredible impact InMarket LCI has on proving the effectiveness of retail and dining advertising campaigns on Snapchat. We’re excited to bring its capabilities to another key category.”
The sales metrics provided in InMarket’s LCI for Auto offering are enabled through a collaboration with S&P Global Mobility, which provides their Polk Purchase Signals data, including new and used vehicle transactions and associated MSRP sales cost by make and geography across the automotive category.
“The collaboration with InMarket not only enhances our ability to provide valuable insights into the automotive market, but also allows our data to be utilised across a variety of media platforms in new ways,” said Joe Kyriakoza, Vice President and General Manager, Polk Automotive Solutions at S&P Global Mobility.
“Together, we are expanding the boundaries for how automotive brands can measure and optimise their advertising efforts, ultimately driving greater value for clients.”
