Welcome to our guide on how auto dealerships can skyrocket their revenues by harnessing the power of data. In today’s digital age, data has emerged as a driving force behind successful business strategies, and the automotive industry is no exception.

By embracing data analytics and insights, auto dealerships can unlock a world of untapped potential, enabling them to optimize sales, marketing, and inventory management efforts like never before. Join us as we delve into the transformative impact of data-driven decision-making and reveal how it can revolutionize your dealership’s profitability and overall success. Get ready to accelerate your growth and thrive in the competitive automotive landscape by embracing the data revolution.

Leveraging Data

With a strong presence with multiple locations and automobile brands, automotive groups are  uniquely poised to leverage data across the enterprise to drive growth while reducing the cost to acquire and retain a customer.

    Driving Sales

• Customer Segmentation
• Predictive Analytics
• Targeted/Personalized Advertising
• Social Media Analytics and Attribution
• Anonymous Data
• Customer Lifetime Value/Retention

  Service & Reporting

• Sales Forecasting
• Inventory Management (Canada Drives – 23% decrease in inventory time-to-sell)
• Predictive Service/Maintenance

  Operational Efficiency

• Consolidation of multiple Dealership Management Systems (DMS) deployments
• Data enrichment (Customer 360)
• Simplified Infrastructure

  

The Challenge(s) With DMS Systems

• Limited Data Sources: DMS only pulls from limited sources i.e. sales & service records and don’t include or cannot integrate with Social/Marketing/CRM/Website/3rd Party Data Sets
• Limited Data Processing Capabilities: DMS systems don’t have the computational power to process large volumes of data quickly or the ability to handle unstructured data i.e. customer reviews or social media data points
• Limited Analytical Capabilities: Able to do general reporting on limited sources however, in cases where advanced analytics/predictive analytics need to play in, DMS systems are challenged
• Limited Integration Capabilities: May not be able to integrate with other systems which are necessary to manage data use cases (i.e. Predicting Parts & Service revenue or Customer LTV)

It’s Already Happening

• Customer segmentation: By analyzing customer data, dealerships can segment their customer base into groups based on demographics, buying behavior, preferences, and other relevant factors
• Predictive Analytics: Using historical sales data, market trends, and customer information, dealerships can employ predictive analytics to forecast sales volumes, identify potential customers likely to make a purchase, and optimize inventory management and pricing strategies.
• Targeted Ads, Social Media Analytics & Campaign Performance Management: By combining big data with advertising platforms, dealerships can target their advertising efforts more precisely. Leveraging customer data, online behavior, and third-party data, dealerships can deliver personalized advertisements to specific customer segments, increasing the likelihood of reaching interested buyers.
• Track website visitor behavior, measure success of campaigns using correct attribution models, identify which channel is your strongest in terms of ads, identify who your top 1%-10% of customers are and double down on them, analyze & refine social media strategies

Take the first step towards transformative growth by contacting us today for a personalized consultation and unlocking the true potential of your automotive dealership group. Together, let’s make a difference that truly matters.  For car dealership groups, we have also identified a platform has a marketing segmentation platform that uses six digit postal code data to target 92% of Canadian households.