In the modern automotive marketplace, dealers are always looking for new and innovative ways to get ahead of the competition. For years, dealerships of every size have experimented with new technology as it is made available, leveraging computer programs and systems to make the job of getting vehicles off the lot easier.
Today, proactive dealerships across the country have turned to one particular addition to their tech stack: Customer Data Platforms (CDPs). CDPs are a type of software platform that collects and manages customer data from various sources, such as website interactions, email campaigns, social media and customer service interactions.
In this blog post, we will provide explanations and recommendations for how dealerships can utilize these CDPs to their advantage – and how to integrate these insights to develop useful insights and potential marketing techniques.
What is a Customer Data Platform (CDP)?
With a growing number of touchpoints and platforms involved through the buying journey, CDPs have become an integral tool for dealerships today.
As dealers collect large amounts of customer data through various touchpoints such as their websites and social media platforms, these insights are often becoming siloed and fragmented, making it difficult to gain a comprehensive understanding of customers’ behaviors and preferences.
CDPs, in turn, provide a solution to this challenge by integrating data from various sources into a single, unified view. CDPs enable dealers to create unified customer profiles, combining data from a dealership’s:
- Other data sources
By doing so, automotive retailers can gain a more holistic understanding of their customers, which can help them create more effective marketing campaigns, personalize the customer experience and improve customer retention.
To fully realize the benefits of a CDP, robust data integrations are key. Data integration refers to the process of combining data from different sources into a single, unified view. In the context of CDPs, data integration involves connecting the platform to all the various sources of customer data that your business uses, including your:
- Email marketing software
In addition to ensuring that your customer data is accurate and up to date, integrating data from all these sources into a single CDP provides dealers with a more complete view of their customers’ behaviors, preferences and needs. This information can then be used to create more personalized and targeted marketing campaigns that improve customer engagement and drive revenue growth.
Data Integration Fueled by CDPs
CDPs fueled by robust data integrations enable dealers to understand their customers’ interactions on their website and across touchpoints. In order to fully take advantage of these comprehensive insights and integrate them into their sales and marketing efforts, dealers need to ensure they’re able to “cross-pollinate” the data collected by their CDPs with their other tools and technology.
While Mastermind is not a CDP, our automated sales and marketing platform integrates with CDPs like Orbee to give dealer partners a more actionable view of their customers throughout the sales process. By integrating with historical CDP data, including shopper signals and segments, Mastermind enables dealers to unlock greater personalization and optimization to improve their loyalty and conquest campaigns.
By integrating their CDP data with their sales and marketing tools, dealers can develop more proactive and effective marketing strategies that are tailored to the unique needs of their customers. For example, dealers can leverage insights from their CDP and Mastermind’s behavior prediction technology to automatically identify which customers are most likely to be interested in a particular vehicle model or feature. They can create targeted marketing messages around those specific attributes.
Mutual Benefits of CDPs
For dealerships of all kinds, CDPs serve the purpose of providing a comprehensive view of their customers’ behaviors and preferences, enabling them to create more effective marketing campaigns and personalized experiences. By integrating data from various sources such as websites, social media, CRM and DMS, CDPs can provide valuable insights into the customer journey, which can be used to:
- Optimize marketing campaigns
- Improve customer engagement
- Increase retention
CDPs can also help sellers and dealers identify high-value customers who are most likely to make a purchase and tailor marketing efforts specifically to them. This can result in increased sales and revenue growth for the dealership.
For automotive vehicle buyers, CDPs can serve the purpose of providing a more personalized and seamless buying experience. By using data integration techniques to gain a holistic understanding of the customer’s journey, dealers can provide more targeted recommendations and personalized offers, helping buyers find the right vehicle that matches their preferences and budget.
How Can Mastermind Help?
To effectively nurture buyers and maximize your dealership’s marketing ROI, it’s essential to understand your audience and their purchasing behaviors to proactively engage customers before they return to market.
By using predictive marketing tools like Mastermind, dealerships can identify and segment high-value, long-term customers based on:
- CDP data
- Purchase history
- Service behavior
- Other key factors
By combining these factors to create personalized campaigns across channels, including targeted social media marketing, dealerships can build stronger, more profitable relationships and increase customer loyalty.
In the end, CDPs are a powerful tool that can help automotive dealerships gain a more complete view of their customers and their behaviors. By integrating data from various sources, such as websites, social media, CRM and DMS, dealership CDPs, especially those integrated with sales and marketing tools, enable dealers to develop more effective marketing campaigns, personalize customer experiences and improve customer retention.
Although Mastermind is not necessarily a CDP, by integrating with CDP marketing data, aM’s proprietary automated sales and marketing platform empowers dealers to take a comprehensive look at their sales opportunities and automatically fuel intelligent predictive marketing campaigns – all from one platform.