“Automotive advertisers relying on linear TV to generate traffic are wasting money by directing 95% of their spend towards those not in the market to buy a car, and therefore not getting the returns they deserve,” Evans said.
That is one of the reasons automotive digital solutions provider Cars.com has launched FUEL In-Market Video, or FUEL IMV, which Evans describes as “the antidote to smarter automotive marketing that could eliminate the massive waste while yielding the same or better results.”
Cars.com describes FUEL IMV as a digital video product focused on what Zenith Media says is the $9.7 billion that the U.S. auto market spends on TV advertising.
Cars.com says that with the new product, dealers, original equipment manufacturers and regional/dealer ad associations can pinpoint serious ready-to-buy shoppers and fight the high costs and inefficiencies of selling in what it describes as a crowded, fragmented media industry.
Also sourcing Zenith Media, Cars.com says more than 50% of U.S. automotive advertising spending goes to traditional, untargeted TV, which is much higher than the global industry average across all categories.
And that spending takes place while consumers spend more time on mobile devices than on traditional TV, according to a Los Angeles Times article. That article says those consumers are accessing content from various social platforms and streaming apps.
Read more here