Snapchat Partners With InMarket to Showcase Snapchatter Auto-Buying Habits
Auto advertisers on Snapchat see a lift in metrics with the launch of InMarket’s latest resource for automotive brands.
Snapchatters Are Shopping for Cars
Buying a car is a major decision with lots of factors to consider before purchasing. Do you go used or new? Should you get an electric, hybrid, or gas vehicle? Do you go with a sedan or maybe an SUV? These days, consumers have many options, and Snapchat is here to help both Auto advertisers and consumers find the right car for them. In Q1 2024, 29.1M Snapchatters planned to purchase a new car and 19.9M planned to purchase a used car.¹ This represents an ideal audience for automotive brands who want to reach potential customers.
Buying or leasing a vehicle is a big purchase for most consumers. Since the average length of car ownership is about eight years, there is a small but critical window in which consumers are in-market for auto brands to engage shoppers effectively.
Snapchat recently partnered with InMarket and S&P Global Mobility (who provide Polk Purchase Signals data) to better understand Snapchatter auto-buying behaviors. Our research surfaced that from January to July 2024 alone, Snapchatters bought 1.6M cars, representing $59B in auto sales. In addition, the research also found that Snapchatters are 40% more likely to buy a new vehicle when in market than the general US population. They’re also more likely to value fuel efficiency when making their decision as Snapchatters over-index against the US population for buying Electric (10% more likely) and Hybrid (16% more likely) vehicles!²
A Partnership to Drive Results
However, because buying a car can be such an enormous decision — and financial commitment — brands need to ensure that every ad dollar is working hard to drive desired outcomes. Snapchat partnered with InMarket to pilot their new Lift Conversion Index (LCI) for the automotive industry which is a closed-loop attribution platform that provides incremental sales and visit lift metrics to provide real-world outcomes for auto advertisers.
Multiple auto advertisers participated in the pilot to measure the impact of Snapchat advertising on driving dealership visits and auto sales. The results were impressive, driving a 66% median lift in Incremental Visits and 39.38% lift in Incremental Sales.³
Given the nuanced purchase patterns and hefty price tags associated with auto purchases, measuring campaign success can be complex. Our phenomenal pilot program showcases the impact auto advertisers experience when combining Snapchat’s advertising capabilities and reach with InMarket’s real-time, comprehensive measurement solution. Over the past few years, we’ve seen the incredible impact InMarket LCI has on proving the effectiveness of retail and dining advertising campaigns on Snapchat. We’re excited to bring its capabilities to another key category.
If you would like to see the full study results or want to activate on Snapchat, please reach out to your Snap Sales Rep.
Snapchat can help your business grow.