Ready to dip your toe into TikTok advertising but not sure where to start? Read on and we'll break down how to easily run your vehicle inventory ads & the results we've seen so far.
What's a TikTok Dynamic Showcase Ad?
A TikTok Dynamic Showcase Ad is a dynamically generated video created highlighting a single product from a product catalog. For car dealerships, a video would be generated for each vehicle in your feed & dynamically deliver to users in your audience. Then, when a user clicks the CTA button, they get taken to that vehicle's VDP Page.
Looks cool, sounds legit, let's move on to what the targeting options are👇
💡Psssst.. We recently released an update to AET Inventory Studio that now allows you to launch inventory ads to TikTok, Facebook, & Snapchat at the same time (and it only takes 2 mins)💡
What kind of targeting is available for TikTok Dynamic Showcase ad?
Great question! Currently you can only target by DMA or State (and sometimes by county & city if you're in a large enough Metro Area).
You can also add on interests & purchase intents, like people who have shown vehicle purchase intent.
💡Psssst.. we automatically include vehicle purchase intent when you launch from AET Inventory Studio to TikTok💡
Cool, cool, cool. So how expensive is it?
TikTok currently had a daily minimum ad spend of $20/day/ad set, so you're looking at a rough minimum spend of $600/month if you were going to try to run all month.
So.. what does that minimum $600 budget get me?
It's comparable to what we see with other social media platforms, here's a snapshot of performance from a Honda dealership in the Boston area for a 2-week period:
Delivery costs nearly 60% lower than Facebook at just $4.15 CPM (cost per thousand impressions)— compare that to an average of ~$10 CPM that we typically see on Facebook for Automotive Inventory Ads.
Click-through performance was comparable to other platforms TikTok vehicle inventory ads clocked in at $0.65 cost per click & with a click-through-rate of .63%— for comparison we tend to see from Facebook Automotive Inventory ads have higher click through rate averaging ~1.8% and cost per click anywhere from $0.20- $1.00 depending on audience/location, etc.
People were engaging with the site we saw 412 VDP views at a $1.54 cost per view. We were curious to see what the Google Analytics showed for the new TikTok traffic, expecting a high bounce rate similar to what we see for other social platforms, but we were pleasantly surprised....
The bounce rate was only 24.39% and visitors from TikTok ads were staying on site for an average of 45 seconds— which keep in mind, is pretty good considering they came from a platform where they weren't actively shopping for a vehicle on TikTok but were instead mindlessly scrolling through their TikTok feed trying to be entertained.
So... do we think you should try out TikTok? Heck yeah we do!
If learning a whole new platform feels a little daunting, you can always launch your TikTok ads from AET Inventory Studio lightning fast! To prove it, below is an un-edited video showing how we built & launched vehicle inventory ads to TikTok, Facebook, & Snapchat in under 2 mins— 1 min & 35 seconds to be exact 😏
Want a quick demo to see for yourself? Book one here 👉 No Pressure 5-min Demo
Questions? Hit us up in the comments or reach out to us by calling (720) 663-0239 or emailing us at team@aetautomotive.com