Auto dealerships depend on customers returning for their vehicle servicing needs, but when warranties end, this can stop. Without the right customer data, efforts to reconnect fail from the start
The owner of a large automotive marketing company was recently discussing how bad the data he was receiving really was. He bought a list of leads based on bank information or expired leases, but the first 50 phone numbers he dialed were either no longer in use or being used by someone else. The numbers were no good.
“My data sucks,” he told Warren Miller, vice president of business development/automotive for BDEX. “I was told to call you guys because I hear you have something nobody else has.”
Accurate, comprehensive data is the lifeblood of the automotive industry, not just because there is so much competition for new car buyers, but because customers often stop bringing in their cars for servicing once their manufacturer’s warranty expires. Given that the National Association of Automobile Dealers estimates the average dealership gets about half its revenue from the service department and a quarter from selling used cars, staying in touch with these customers is vital to today’s auto dealership.
By layering BDEX’s nearly 1 trillion real-time data signals over the dealership’s data, a marketing agency can find dozens of ways to reconnect with customers who have fallen off their client’s radar screen. How does BDEX do this?
First, unlike dealerships, BDEX ties everything to a unique customer identification number (Customer ID), rather than a VIN number. Second, we monitor real-time data signals from hundreds of millions of smartphones and use 100 percent deterministic cross-device matching, which means we can match customers in the dealership’s customer database to a Customer ID no matter how many times the individual has traded in their car, smartphone or changed their email addresses.
Not only is our data constantly updated it’s also far more comprehensive. Thanks to partnerships with more than 100 data providers, the BDEX Data Exchange Platform (DXP) can provide not just valuable clickstream data, but where a former customer has been servicing and fueling their vehicle, or what competing dealerships a prospect has visited recently. Today we have 8.5 billion data points in our Personal/Automotive dataset class.
“The results are just tremendous,” Miller said of the improved performance automotive marketers are experiencing with BDEX data. “That’s why we do so well. That’s why people love us.”
Here’s a look at 10 ways that marketers can use real-time data signals from the BDEX data exchange platform (DXP) to help dealers reconnect.
10 ways real-time data signals help dealers reconnect
1. Tracking who’s visiting a dealership lot
A geofence is a perimeter of an area where you’re gathering data. Think of it as a virtual fence around a location that can be big or small, a whole city or a square foot. Or, your car lot.
The benefits of geofencing data are endless when it comes to marketing, especially for auto dealers. You can track who comes in and out of any dealership lot and follow up with them afterward or send them a targeted ad.
2. Tracking courtesy vehicles
When a customer needs alternate transportation while his or her vehicle is in the shop, you can track the courtesy vehicles you loan them. This allows you to see when they enter or exit your lot, and if they’re visiting competitors’ lots.
3. Tracking after-market service station visits
POS data, or purchase data from cash registers, allows you access to customers who have visited after-market service stations for oil changes or other services or auto parts dealers. For instance, you could decide to mail a coupon for an oil change to car owners who just paid for an oil change at a Jiffy Lube.
4. Tracking when customers’ leases expire
BDEX allows you to receive data about customers who are currently shopping for cars or those who have a car lease expiring soon. This means that they’ll likely have a new vehicle to bring in for servicing needs again soon.
5. Sending alerts to participants at tradeshows
Geofencing can help you track customers who come to tradeshows, and you can connect with them immediately so they’ll be more likely to visit your booth.
6. Contacting customers if they go to a competitor’s lot
Another big benefit of geofencing is that you can actually create a virtual fence around a competitor’s lot. This way, you can send ads or alerts to customers who are visiting those lots.
7. Separating types of vehicles on your lot
To target marketing efforts even further, you can create a geofence around a portion of your dealership lot. This allows you to send ads for, say, SUVs when a customer is in an SUV section, or high-end luxury vehicles. And, you can do the same in competitors’ lots, which helps if you’re trying to reconnect with a past customer.
8. What car brands customers buy
BDEX data can show you which brands customers buy, which allows you to target their specific wants and needs in a vehicle.
9. Layering with clickstream data
Clickstream data, which is data from customers or potential customers’ computer, smartphone or other connected devices can provide valuable insight into where a prospect is in the sales funnel, including the class, brand, price range and option packages that interest them.
By layering clickstream data with the geofencing data that BDEX provides, you’ll have a much more accurate picture of where prospects are in the sales funnel.
10. The type of gas or tire brands customers use
To better target your ads and messages, you can find out which types of gas or tires customers use by using POS data. Or, you can set up a geofence around certain brand service centers to get this information.
BDEX uses and monitors 900 million of these real-time data signals to identify and reach customers who are ready to buy. This data is important in recognizing where customers are in their path to purchase, allowing auto dealerships valuable insight into buying behavior.