Goodway Group Improves OfferIQ™ Automotive Industry Focused Video Overlay Ad Goodway’s Enhanced Digital OfferIQ™ Ad Unit Builds On In-Market Success Of Original
New York, New York
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December 14, 2021 09:15 AM Eastern Standard Time
Goodway Group, the digital partner advertisers trust to deliver campaign performance and media efficiency, announces their mid-cycle enhancement (MCE) to the company’s successful creative overlay ad unit, OfferIQ™. The updated product is designed expressly for automotive OEMs, Zones, LMAs, dealers, and their partner agencies. The improved dynamically-generated ad package meaningfully increases ad performance metrics.
Introduced in October 2020, the original OfferIQ™ creative provided Goodway’s automotive clients with a revolutionary dynamic video ad unit. In addition to a better presentation of vehicle-specific incentives, OfferIQ™ enabled automatic at-scale ad customization for each participating dealer. The OfferIQ™ approach ended the era of traditional commercial tags or customized “doughnut hole” sections in the middle of an ad. Goodway’s proprietary system dynamically builds and delivers each ad in under 200th of a second.
Since its introduction, Goodway’s OfferIQ™ ad product has delivered over 95 million impressions utilizing PreRoll, YouTube and UniversalReach TV, Goodway’s Advanced TV/ Full Episode Player (FEP) solution. The performance of OfferIQ™ was tested over five months across 60 LMAs and hundreds of campaigns that ran traditional video versus OfferIQ™ ad units:
Compared to traditional Advanced TV ads, OfferIQ™ ads showed a lift in conversion rates of 33%, meaning more ad viewers went on to take defined shopping actions at dealer websites after watching the ads.
Compared to standard Pre-Roll video, OfferIQ™ raised conversion rates 25%, delivering proven increases for dealers.
“The extra capabilities and customizable elements that come with the mid-cycle enhancement of OfferIQ™ make ads easier for customers to take in and act upon, which makes them even more effective,” said Tony Smihal, National Account Director at Goodway Group.
Specific MCE improvements over the original OfferIQ™ ad units include:
The dealer’s logo and address now accompany the dealership name to improve the connection to the dealer which helps lift conversion rates.
The feature vehicle is larger to better identify the ad’s focus.
The feature offer (type) is larger to make the offer a quicker read.
The ad background is customizable regarding geography and/or season, to make the ad more relevant.
Smihal added, “Goodway is the only agency offering a product as powerful as the new OfferIQ™. Our creative team developed a very capable dynamic ad creation system that gives our auto clients the ability to customize their marketing messages, which we have learned through market research, is extremely important to them; and the ads build themselves each time they run. While developed for our automotive clients, OfferIQ™ could be applied to other businesses that serve customers through a brick-and-mortar multi-location model.”
The enhancements to OfferIQ™ not only increase conversion and completion rates, they also build on OfferIQ™’s ability to offer automated ad customization. This enables Zones, LMAs, and dealers to easily build and run campaigns that integrate brand-approved video assets, any vehicle or incentive and specific identification for Zone, LMA or dealers.
A selection of backgrounds is available with the MCE to add another layer of visual customization. Available scenes include city skylines, regional landscapes, and seasonal graphics.
“It is Goodway’s deep experience across the automotive Tier II and Tier III sectors that fuels innovative digital deliverables like the OfferIQ™ MCE,” says Dave Wolk, Goodway CEO. “The story behind OfferIQ™ is a great one; Our team collaborated with clients to fundamentally change automotive creative, and we used Goodway’s digital and programmatic strengths to do it.” Additional Goodway research has documented that when Goodway coordinated Zone campaigns with LMA campaigns, there was a 131% increase in conversion rate, reducing Cost Per Lower Funnel Actions by 59%.
For additional information and an example of the MCE OfferIQ™, visit: www.goodwaygroup.com/auto
About Goodway Group
Goodway Group is the digital partner advertisers trust to drive campaign performance and media efficiency. Proud to be completely independently owned and operated, Goodway provides trustworthy expertise that meets its clients' needs – and no one else's. Using predictive intelligence, Goodway helps advertisers get the most value out of every impression across all paid digital media. Through the combination of employing the smartest technology and the most experienced people in the industry, Goodway delivers authentic results. Find Goodway Group online at goodwaygroup.com.
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Kite Hill PR for Goodway Group
Patrice Gamble
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