OfferIQ®: The Missing Link to Supercharge Automotive Video Marketing Success

Video advertising has experienced significant change over the past few years, and 2024 will be no exception. For instance, for the first time in history, connected TV (CTV) is predicted to usurp linear TV in popularity per a recent AdExchanger report.

For automotive advertisers and brands, this shift brings an opportunity to better understand the platforms and tools available to meet your growth goals via non-linear video channels. 

One such tool is Goodway Group’s newly Registered Trademark for OfferIQ®, a creative overlay product that optimizes your creative and overall effectiveness across CTV, YouTube and Pre-roll. Let’s dive in. 

OfferIQ®: Improve Your Video Advertising’s Message, Duration and Impact

OfferIQ® is Goodway’s customizable dynamic video product that helps automotive advertisers deliver high-performing, personalized ads for each market their dealers are in without the high cost of producing custom creative. Its templated design acts as a creative overlay placed onto existing nationally-distributed video ads. Goodway works with the advertiser to input their approved brand assets while allowing specific areas of the video creative to be customized by location, ensuring each automotive dealer’s unique market is served a custom message.

With OfferIQ®, ads can be served across programmatic video inventory like advanced TV and online video. For automotive advertisers, this gives dealerships the power of sight, sound, and motion to deliver impactful video ads to their local market at a fraction of the cost of linear TV.

OfferIQ® can help automotive advertisers drive results in four ways:

1. Add Value for Longer Duration

We’ve all watched an automotive video message placed into a short, 15-second time slot. Most of that time is consumed by a nationally-standard message about a particular vehicle make or model and its benefits. Then, the last few seconds show an offer from the region’s local dealer. 

Here’s the problem: Every month, automotive brand marketing teams spend time and budgets analyzing which offers they should promote in these short custom message spots. But if the incentive is only on the screen for seconds, is all that effort worth it?

OfferIQ® provides a unique solution by enabling advertisers to take that same video ad and elongate the time the incentive appears on the screen. Instead of showing the incentive at the end, the incentive runs on the bottom or side of the video throughout the duration of the ad. Consequently, OfferIQ® increases the offer visibility by 75-85% according to Goodway data, so your hard-researched incentive makes an impact for longer.

2. Gain Flexibility With Alternative Messaging

In the past year, automotive dealers have struggled with high interest rates and low inventory. This makes it difficult for many dealerships to offer incentives in their video ads. For advertisers in this predicament, OfferIQ® provides additional flexibility because the custom creative overlay component doesn’t need to feature an incentive. Instead, advertisers can opt to display feature and benefit content of particular makes and models, or even of their dealership overall. Including additional content like this while your video plays helps reach both auditory and visual learners. 

3. Dealerization Opportunities

When it comes to Tier II automotive media buying, a video ad’s last few seconds is vitally important to turn a national ad into a regionalized ad. Because dealers spend their own marketing budgets there is now an opportunity to push  their business name and extend it well beyond that short time slot. This promotes the OEM national message to the dealer’s name generating a stronger retail path and association. OfferIQ® lends a hand by automating this dealerization process. By pulling geographic data on the audience’s region, OfferIQ® automatically populates the video with the closest dealership’s specific information, like your brand logo, location address, phone number, and even customizable backgrounds.

4. Improve Audience Interactivity

While there are many important KPIs automotive advertisers must keep in mind when measuring the success of their video ads — such as incremental reach, cost per unique reach, and ROI — adding a layer of interactivity can take your campaign one step further. 

OfferIQ® supports this added interactivity by giving advertisers the ability to place QR codes into their custom messages. Adding a QR code provides an additional option to engage your audience and attribute a specific, measurable action to your ad. In Q1, we will be announcing additional interactive elements.

Channels Where OfferIQ® is Available: CTV, YouTube and FEP

OfferIQ® is available across multiple online video platforms thanks to the help of UniversalReach TV™ (URTV). URTV™ is Goodway Group’s proprietary, top-performing media tactic for video advertising that places ads in front of your target audience across their favorite streaming platforms, from, Roku, Paramount, all major news outlets, Live sports, and more. Goodway’s data for a motorized agricultural client shows that households exposed to URTV™ saw a 581% lift in lower-funnel channels, like paid search, to generate valuable website actions. Goodway’s URTV™ Solution makes connected TV media buys easy. Video ads can appear on multiple platforms and devices, like Hulu, YouTube, smart TVs, tablets, phones and more. Our expertise and buying power allows automotive dealers to get premium CTV, OTT or Advanced TV inventory with lower investment levels. 

When combined with the creative customization of OfferIQ®, we take automotive video advertising to the next level.

Reach More Audiences With TV Advertising

Goodway Group has over 30 years of experience helping automotive brands build winning digital marketing strategies. With CTV’s rise in popularity and linear TV struggling to keep up, automotive brands need effective online video planning, buying, execution and measurement to stay competitive. Our proprietary OfferIQ® product provides the customization needed to optimize local messaging across national video creative, giving automotive brands the coverage they need without sacrificing the local dealer’s brand awareness. 

Reach out to Goodway Group’s automotive marketing experts for insights into how to position your video advertising strategy for 2024.

Tony Smihal is a National Account Director at Goodway Group. He has over 15 years of experience identifying new partnership opportunities and developing strategic plans to help clients achieve goals. Tony’s expertise in the automotive industry gives him unique and valuable insights on how to maximize automotive brand exposure through comprehensive omnichannel marketing.