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How CarGurus Proves TV’s Cross-Channel Impact

Inside the Report

-35%

TV ad exposure led to a
35% reduction in
performance marketing
cost-per-conversion.

+200%

TV-exposed consumers
were 2x more likely to visit
the CarGurus website from
branded searches

2X

TV-exposed consumers
require fewer paid clicks to
convert on the CarGurus
website.


Executive Summary

CarGurus integrated granular TV ad data into their multi-touch-attribution (MTA) models, proving that TV ad exposure led to a 35% reduction in performance marketing cost-per-conversion.

Challenge

At CarGurus, sophisticated MTA modeling is second nature for digital marketing channels. However, the team initially struggled to bring the same level of rigor and granularity to their TV measurement to prove the channel was driving business results, not just awareness. The team had a hunch that exposure to TV ads increased the likelihood consumers would convert further down the funnel, but needed concrete data to support their hypothesis.

“Our challenge was that we lacked TV data at the same granularity and speed as digital to understand TV’s impact on cross- channel campaigns.”

Sarah Welch, Chief Marketing Officer, CarGurus

Solution

By combining iSpot TV ad exposure data with first-party digital marketing data, the CarGurus team was able to create control groups and analyze the conversion activity of consumers exposed to TV ads vs unexposed consumers. This allowed them to precisely attribute the portion of leads driven by TV ad exposure.

Findings

Through their analysis, the CarGurus team learned that the group exposed to TV ads and digital ads (paid search, retargeting, etc.) generated a lower cost per conversion than those not exposed to TV ads. This proved their hypothesis that TV drives efficiencies with other marketing channels and positively impacts overall marketing performance.

Now, with better insight into TV’s impact on marketing channels and iSpot TV ad exposure data integrated into forecasting models, the CarGurus team is able to intelligently allocate budget and execute the right media mix for optimal marketing ROI.

With granular TV ad data from iSpot, we were able to look at TV exposure and performance marketing clicks on a user level to deeply analyze the interplay of TV with performance marketing channels.”

Scott Veidenheimer, Sr. Data Analyst – Brand Marketing, CarGurus