CarGurus Launches Real-time Performance Marketing Product Suite
Power of Industry-Leading Car Shopping Audience Boosts Dealerships’ Digital Marketing Campaigns
Cambridge, MA – February 11, 2020 – CarGurus (Nasdaq:CARG), a leading automotive shopping site, today announced the nationwide launch of its Real-time Performance Marketing (RPM) suite for dealerships to strengthen and optimize their digital marketing programs. Leveraging the power of CarGurus’ engaged, industry-leading car shopping audience of more than 38 million unique U.S. monthly visitors, RPM will help dealers drive more high-quality traffic to dealership websites and locations through multiple digital channels.
CarGurus RPM will empower dealerships with the ability to:
+ Target CarGurus audiences with an omnichannel approach, using channels like targeted display ads, paid search, social ads and retargeting ads
+ Improve their social marketing by exclusively reaching CarGurus shoppers on Facebook, a high-converting social platform
+ Maximize their digital marketing performance through real-time analysis that automatically adjusts campaigns and budget allocation across channels
“Dealerships work with CarGurus because of our track record as a proven digital marketing partner that is focused on pairing automotive shoppers and vehicles,” said Spencer Scott, SVP of Advertising and Digital Marketing at CarGurus. “CarGurus RPM combines our technical expertise with our robust audience to drive quality shoppers directly to dealerships. Our multi-channel digital marketing approach will help dealerships navigate today’s car buying environment where shoppers are universally going online but taking many different paths to find the right vehicle.”
Dealerships that adopt CarGurus’ RPM will be able to extend their digital reach by targeting shoppers who visited their CarGurus vehicle description pages and also those that viewed similar vehicles on other CarGurus pages. In addition, RPM’s digital campaigns will adapt quickly to reflect dealership inventory changes and consumer behaviors, so that shoppers are presented with the most accurate available inventory as possible.
More information about RPM can be found here and those interested in a demo of the suite can visit CarGurus at the NADA Show in Las Vegas on February 14-17 at booth 6209N.
CarGurus is a global online automotive marketplace that uses proprietary technology, search algorithms, and data analytics to bring trust and transparency to the automotive search experience and help users find great deals on new and used cars from top-rated dealers. Founded in 2006 by Langley Steinert (also a co-founder of TripAdvisor), CarGurus is the most visited automotive shopping site in the U.S. (source: Comscore Media Metrix® Multi-Platform, Automotive – Information/Resources, Total Audience, Q3 2019, U.S. (Competitive set includes: CarGurus.com, Autotrader.com, Cars.com, TrueCar.com)). In addition to the United States, CarGurus operates online marketplaces in Canada, the United Kingdom, Germany, Italy, and Spain. CarGurus also owns and operates as independent brands PistonHeads and Autolist in the U.K. and U.S., respectively.
To learn more about CarGurus, visit www.cargurus.com.
CarGurus® is a registered trademark of CarGurus, Inc. All product names, trademarks and registered trademarks are property of their respective owners.
© 2020 CarGurus, Inc., All Rights Reserved.
Cautionary Language Concerning Forward-Looking Statements
This press release includes forward-looking statements. All statements contained in this press release other than statements of historical facts, including, without limitation, statements regarding our expectations for our RPM product suite, including the ability of RPM to help with and/or improve digital marketing efforts for dealerships, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “guide,” “intend,” “likely,” “may,” “will” and similar expressions and their negatives are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, risks related to our rapid growth and ability to sustain our revenue growth rate, our relationships with dealers, competition in the markets in which we operate, market growth, our ability to innovate and manage our growth, our ability to expand effectively into new markets, our ability to realize benefits from our acquisitions and successfully implement the integration strategies in connection therewith, our ability to operate in compliance with applicable laws, as well as other risks and uncertainties set forth in the “Risk Factors” section of our Quarterly Report on Form 10-Q, filed on November 5, 2019 with the Securities and Exchange Commission (SEC), and subsequent reports that we file with the SEC. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. We are under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.