Auto advertisers were hit hard during the pandemic. While they've rebounded in the last year, it has been challenging, and they have now had consecutive months of advertising cuts from the industry known for heavy marketing expenditures.
Furthermore, eMarketer recently released their forecasted US ad spending for 2023 and beyond. Digital ad spending in the US faces its slowest growth rate in over a decade. With that, advertisers will need to get smarter and have the data work harder to make the most of their ad dollars for the foreseeable future.
It's no secret that shoppers changed their purchasing habits during the pandemic, so advertisers must adapt. Instead of visiting multiple dealerships, they're turning to the internet to search and compare on auto shopping websites. They're already close to purchasing after researching on their own time and at home. Auto advertisers must catch them in their research phase to provide engaging digital experiences and engage the user earlier in the purchase cycle. And catching car purchasers throughout their research phase can only be done with good data and a customized targeting plan. Using data to understand their car buyers can help provide a more cohesive and engaging experience.
Oracle advertising recently overhauled our automotive audiences and published 220 net new Oracle Auto audiences, available for use on both open-web and consumer platforms. These new additions include:
In total, there are over 500 automotive audiences offered by Oracle Audiences across several categories, including:
Our syndicated auto audiences are readily available and on the shelf in most trusted platforms and can be used to reach customers and prospects accross social media, the open web, connected television, streaming audio, and more. They're built using the most comprehensive auto and consumer data available, including but not limited to ownership signals from across our data marketplace and actual auto buyer purchasing behavior, insurance and vehicle registrations, warranty agreements, and aftermarket service providers providing high accuracy and scale.
Auto advertisers can also use Oracle Contextual Intelligence to reach consumers in real-time when actively engaging with auto-related content ranging from green vehicles to luxury cars, auto repairs to safety content, and everything in between. More than 40 syndicated segments based on the IAB 3.0 taxonomy are available in select DSPs, or custom segments can be crafted and activated in near real-time. Our contextual targeting capabilities understand the true context of the page so you can accurately align your campaigns to relevant content in a privacy-centric manner.
Purchasing a car isn't confined to dealerships anymore. Auto advertisers must engage car shoppers early and often throughout their purchase cycle.
Looking for automotive targeting recommendations to achieve your campaign goals? Please get in touch with your Oracle auto vertical go-to-market experts or The Data Hotline!
Becky manages the relationships of third-party data providers for Oracle Advertising where we partner on solutions around audience targeting, contextual intelligence, and measurement. Before joining Oracle, Becky spent 10 years working in ad agencies focusing on digital marketing, paid search, and social media tactics for telco, media & entertainment, and food & hospitality clients.