It may not initially seem like an ideal fit, but Facebook is becoming increasingly influential in the car purchase process, and connecting users to relevant deals for their next automotive purchase.
Indeed, Facebook reported last year that around half of auto consumers say that recommendations from friends and family are influential when deciding which new brand to buy, and 77% indicated that posts on social media had made them consider buying or leasing a new model.
That’s a significant consideration, and now, Facebook’s providing more tools to help car dealers connect with potential buyers on its platforms.
Facebook has added three new elements to its automotive promotion tools:
- A new “Manage Inventory” tab on dealership Pages
- A simplified set-up process for automotive inventory ads (AIA)
- A new “Vehicles” tab on dealership Pages where dealers can showcase their full vehicle inventory
The new options will make it easier for car dealers to list on Facebook, and maximize their opportunities.
“These new features will reduce the work required for dealers to create and manage a vehicle catalog as well as promote their vehicles. Dealers can now:
- Create, manage and promote vehicle listings in one place: This can be done through the “Manage Inventory” tab. Dealers can also view insights, like views and leads, to assess performance of their listings.
- Create ads to promote inventory in just a few clicks: Set up AIA to promote the right vehicle to the right person at the right time. Starting from the dealership’s Page or the “Manage Inventory” tab, dealers can either select an existing catalog or create a new one by connecting to a third-party provider. Once their catalog is set up, they can easily create ads using a pre-filled template.
- Showcase new and used vehicle inventory on the dealership Page for free: Vehicles will appear in the “Vehicles” tab — a new on-Facebook shopping surface.”
Again, while it may not seem like an ideal fit for Facebook promotions, the data shows that people are indeed looking for car-related info on Facebook, and with a range of Facebook Groups dedicated to automotive appreciation, it makes sense to use these new options to hone in on potential buyers.
Facebook also added some enhancements for its auto inventory ads back in September, and continues to improve its car listings on Facebook Marketplace.
If you’re looking to promote your dealership, Facebook could be a key option, and these new tools will make it easier than ever to increase brand awareness.
Pinterest Ends its Creator Rewards Program for Idea Pins
Pinterest has announced that it’s ending its Creator Rewards program, with the incentive offering set to shutter later this week.
Pinterest’s Creator Rewards scheme provided a means for creators to make money by creating themed Idea Pins, based on monthly prompts provided by Pinterest.
That enabled Pinterest to both encourage Idea Pin activity, and guide those Pins towards more engaging elements – but now, it’s moving on from the project.
As reported by The Information:
“After the program’s conclusion on Wednesday, [Pinterest] will pay a one-time bonus to creators in the program who participated in at least one reward goal in August, September or October, a Pinterest spokesperson said. The company declined to share how much it was giving away in bonuses or how many people were part of the creator rewards program.”
Various social platforms have offered similar incentive schemes, with varying levels of success, but for the most part, they’ve eventually become unsustainable. Which, in some ways, is expected. Direct payments from the platforms are ideally designed help to guide creators into other monetization avenues, and are not geared towards building reliance on those payments themselves.
Snapchat has experienced similar issues with its Spotlight program, which is also now more aligned to specific thematic targets, while TikTok’s still working on the best way to ensure its top stars continue to get paid.
It is worth noting that this is separate from Pinterest’s $500k Creator Fund, which is another program designed to encourage creators to keep posting to the app.
The Creator Fund is specifically aimed at supporting Creators and communities ‘that have been disproportionately underrepresented’, and that program will continue on at this stage.
Cracking the code of creator funding is complex, especially in content formats that don’t support insertion of ads, where you can directly attribute revenue based on views. No platform has got this 100% right as yet, but more options are evolving, which could provide more avenues for sustainable creator funding in future.
But evidently, Pinterest found that this one wasn’t it. The program will shutter on Wednesday this week.