Equity Mining vs Data Mining Why Your Dealership Needs a Sales Platform

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REQUEST A DEMO AT automotiveMastermind.com 800.801.0018 | info@automotiveMastermind.com ©2019 automotiveMastermind®. All rights reserved. | A business unit of IHS Markit™ Equity Mining vs. Data Mining: Why Your Dealership Needs a Sales Platform Many dealers drive sales and profits with automotive data mining and equity mining tools. Some, however, are leaving profits on the table by only using the capabilities those tools provide while failing to take advantage of similar opportunities in other parts of their business. Benefits of a Sales Platform Data mining and equity mining are powerful tools to drive sales, but they can only accomplish so much when they're used as standalone tools, rather than as components in a comprehensive automotive sales platform. A sales platform: • Identifies patterns and similarities to evaluate the customer's likelihood to purchase a vehicle and pinpoints the highest-quality prospects for sales teams to engage with. • Streamlines the process of getting to know prospects within all aspects of your business (retention, service-to-sales, conquest). • Transforms data into intelligent marketing campaigns that deliver the right personalized messages at timely moments in their buyer journey to maximize the potential to close. • Generates personalized talking points and other information for the sales and F&I teams in order to help close deals. • Provides more accurate identification of when a consumer is ready to re-enter the sales process and begin the cycle all over again. • Offers thorough reporting and attribution to help strategize your future success. Interested in how your dealership can improve its data mining processes and grow revenue with a comprehensive sales platform? Contact us today for a free consultation. DATA MINING Data mining involves analyzing as much information as possible about potential customers to understand the factors affecting a car purchase decision and to identify those customers who are most motivated to buy. This includes finances, lifestyle information, social media posts, driving patterns and credit reports. EQUITY MINING Equity mining focuses on existing customers who are in position to trade into a new car. This process identifies prospects who have positive equity in their vehicles and could be profitably placed in a new vehicle with attractive finance terms. This considers factors such as factory incentives, trade-in value, interest rate differences and more.

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