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InMarket Launches Lift Conversion Index for the Automotive Sector

In a bold move to reshape advertising effectiveness in the automotive industry, InMarket has launched the Lift Conversion Index (LCI). This innovative closed-loop attribution platform aims to provide automotive brands and dealers with powerful metrics on sales and visit lifts, allowing them to accurately gauge the impact of their advertising efforts.

As the automotive sector grapples with the complexities of measuring campaign success, especially given the high-value nature of vehicle purchases, InMarket's LCI enables marketers to see exactly how their promotional initiatives drive real-world engagement. By linking omnichannel media strategies directly to consumer behavior, the platform provides enhanced insight into dealership visits and vehicle purchases, empowering brands to make data-driven decisions for their advertising strategy.

Key Features of the Lift Conversion Index for Auto

The LCI is designed specifically for the auto industry to:

• - Measure Real-World Engagement: The closed-loop study allows brands to closely examine how marketing campaigns influence customer behavior, tracking everything from dealership visits to vehicle purchases.
• - Optimize Media Inflight: This tool enables marketers to adjust their media spending throughout an ongoing campaign, ensuring that their advertising is continuously relevant and effective.
• - Gain Actionable Insights: By providing actionable data, the LCI helps brands refine their strategies and better target their marketing efforts based on consumer purchasing trends.
• - Inform Partner Decisions: Insights gained from the LCI can guide strategic partnerships and inform decisions about preferred dealership locations and competitive analysis in the marketplace.

According to Todd Morris, CEO of InMarket, understanding how advertising drives sales is crucial for auto marketers. The company’s new solution not only closes the loop regarding these high-ticket investments but allows advertising dollars to work effectively towards driving customers into showrooms and out with their new vehicles.

Collaboration with Snapchat and Real-World Success

Leading up to its official launch, InMarket collaborated with select partners to refine the capabilities of the LCI. Notably, auto advertisers on Snapchat were given early access, benefiting from the platform's extensive reach and engagement capabilities. A notable pilot program involved a major SUV manufacturer collaborating with InMarket and Snapchat to assess their advertising effectiveness.
The results were impressive, with the campaign yielding a 31.6% increase in dealership visits and a 24% improvement in sales, generating over $5.7 million in additional revenue.

This collaborative effort demonstrates just how powerful the combination of Snapchat’s advertising prowess and InMarket’s real-time measurement capabilities can be in driving substantial results for automotive advertisers.

Partnership with SP Global Mobility

InMarket's LCI also incorporates valuable data from SP Global Mobility. This partnership enhances the platform's insights by providing comprehensive information on vehicle transactions, including sales costs associated with various makes and models across different geographical markets. Joe Kyriakoza, Vice President at SP Global Mobility, emphasized how this collaboration allows for expanded insight across media platforms, ultimately benefiting automotive brands in their advertising ventures.

The Future of Automotive Advertising

By pioneering solutions that tie advertising efforts to measurable outcomes, InMarket is not only setting a new standard for the automotive industry but also making a significant impact on how firms measure success.
Research from the CMO Council has indicated that brands employing real-time optimization strategies achieve as much as 11 times more media effectiveness over those that do not utilize such advances. With LCI being the first solution of its kind to deliver multi-touch attribution, it's no wonder that InMarket has received accolades including the prestigious Sales & Marketing Technology Award for Product of the Year.

InMarket, founded in 2010, has a proven track record of connecting brands with consumers using unparalleled data insights. Continuing to disrupt the marketing landscape, the LCI for Auto is poised to revolutionize how the automotive industry approaches advertising.

For more information, brands can visit InMarket's website to explore this breakthrough technology.