Facebook is set to expand its presence in UK automotive retail after ramping up is car listings in the US, according to social media experts Radar Video.
The world's most popular social media network with 2.07 billion monthly active users worldwide has ramped up the number of car listings in its Marketplace tab in the US and “significant expansion” in the UK will follow, Derek Blair, founder of Radar Video believes.
Facebook has already introduced features that will make it easier for car shoppers in the US to browse stock from dealers through new partnerships with Edmunds, Cars.com, Auction123, CDK Global and SOCIALDEALER.
Blair said: “A significant expansion into car listings is imminent, and it creates enormous opportunities to put your stock in front of a highly engaged audience.
“Perhaps more significantly, Facebook provides dealers with the ability to track the customer through the purchase journey and target them with personalised offers. It has the potential to drastically lower marketing costs.”
Facebook users in the US can visit an enhanced vehicles section and filter listings by year, make, model, mileage, vehicle type and transmission.
It also gives access to car values and allows buyers to communicate directly with dealers through Messenger.
Radar Video argue that automated messaging or chatbots in Messenger can help to speed customer response and lower costs for dealers.
Blair said: “Facebook chatbots can change the way consumers and brands interact. Data shows there are over 100,000 bots being used on Facebook Messenger to collect information, make recommendations and even take orders.”
A recent study by Radar Video shows that 42% of the largest dealer groups are wasting budget on Facebook by not using the platform’s tracking capabilities.
The study of the UK’s 50 largest dealer groups shows that while most dealers have a Facebook page and advertise on the social network, only six out of ten use a Facebook Pixel, which allows companies to track individuals who click on ads and serve them bespoke offers.