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Male Millennial, B2B Media Opps: TrueCar increasing spend, shifting more to digital
Automotive marketplace here).
In the corresponding Q1 earnings call, executives stated the majority of this spend goes to television, radio and digital as the channels increased by $1m to $14.9m in order to "drive TrueCar channel customer acquisition." However, note that executives also stated TrueCar would continue to "lean more deeply" into digital spend rather than traditional spend.
The executives further confirmed the digital shift by discussing "a new form of digital marketing" for its OEM Portal (its TrueCar-to-car, or business-to-business, web tool). TrueCar also wishes to strengthen its OEM Portal with additional products that will improve "target ability" and help TrueCar "enter into larger marketing budget conversations."
With that in mind, sellers with an omnichannel strategy led by digital will likely have the advantage going after revenue. TrueCar typically targets millennial males in addition to its B2B demographic (car manufacturers like FCA and Mercedes). Its planning period is Q1 and its buying period is Q4.
iSpot reports a YTD national TV spend of $10.1m on male-focused programming (see targeting right). Spend in the same timeframe of 2018 totaled $13.9m, full 2018 spend totaled $40.9m and spend in 2017 totaled $51.7m.
Adbeat reports digital display over the last 12 months has totaled $308.4k, a decrease from the $367.8k spent during the 12 months prior. Ads are placed primarily via Google Search Partners (50%), BingAds Content (15%) and direct buy (15%) onto sites like amazon.com, yahoo.com, united.com, samsclub.com and urbandictionary.com.
Kantar reports, from 2018 to 2017, print decreased from $112,242 to $204,926 and radio decreased from $2.88m to $2.90m. TrueCar began using outdoor in 2018 with a tiny allocation of $300.
Creative has been out of Citizen Relations since 2017. We believe media is still handled in-house.
Please read more of WinmoEdge's latest on TrueCar here.