In “Part 1: Bing? Really?”, I challenged some of the assumptions about Bing I know many of you have, including the fact that Bing’s smaller market share isn’t necessarily a bad thing. In fact, as I said before, it could present a strategic advantage for your dealership.
Less Competition = Lower Cost
Less competition on Bing means a lower average CPC. That’s right, it costs you less to get an auto intender to your website from a Bing ad than from a Google ad. This isn’t actually surprising when you consider that less than half of dealers are advertising on Bing.
Having worked with thousands of dealers over the last 7 years, with a combined ad spend of hundreds of millions of dollars, I can tell you first hand that almost every dealer I talk to is advertising on Google. In fact, it would be really hard to find a dealer that is not on Google.
Only 30-50% of dealers, on the other hand, are advertising on Bing. This means a lower CPC, lower CPL, and therefore higher ROI. In the end, isn’t the ROI what matters most to you as an advertiser?
Just Because They Spend More Doesn’t Mean You Have To
Consider this scenario:
Imagine if you had two auto auctions in your town. The first is THE AUCTION to be at and every dealer in your immediate and surrounding areas has a buyer at this auction. There is a huge volume of cars running through this auction and everyone who’s anyone will be there. On the other side of town is a much quieter auction, with far fewer buyers. One day you decide to go to this smaller auction and, much to your surprise, you are able to buy vehicles for around 33.5% less than you could buy a vehicle for at THE AUCTION. Would you return to this smaller, quieter auction knowing there is less competition, and pay less? Or, would you only go to the larger auction (even though it cost more money) because that is where everyone else was going?
Some of you may be thinking, “Matt, that’s never going to happen”…or “Matt, that sounds great, but I can still reach everybody I need to on Google and it’s just easier to keep my spend in one place.”
Here’s where I’ll challenge you again. A portion of your spend can go further on Bing, reaching a significant volume of automotive shoppers that you can’t reach on Google – for less spend, lower CPLs and in some cases, even higher conversion rates.
To reiterate, I am not suggesting you stop or even reduce your paid search advertising on Google. On the contrary, Google is the #1 player with the most reach and you should absolutely continue your efforts there. What I am suggesting is that Bing presents an opportunity to expand your reach by augmenting your spend on Google with some additional spend on Bing to maximize your paid search ROI.
And in case you missed it, read Part 1: Bing? Really?
If you want to find out more about what you can expect from advertising on Bing, call 1.800.683.7940 or contact us today for a no risk, no obligation, 100% free consultation. For existing clients, we can forecast expected results (based on historical data) on Bing for your dealership.