Issue link: https://resources.automotivemastermind.com/i/1183602
"[August] was our first marketing campaign and full month with the [automotiveMastermind ® ] technology and it was a game changer. We were 131% of our monthly target from Volkswagen and it looks like 14 of those sales were from Mastermind. We also exceeded last years sales by nearly 25%!" – Shane Self, General Manager – Marketing, MAG Volkswagen, Dublin, OH UNDERSTAND CUSTOMERS WITH INTELLIGENCE TODAY The more connected we become via web and mobile, the more personal data we generate. What you need to know about customers is out there, ready to reveal their behavior and motivating factors. Individuals produce thousands of data points between what's already known in dealer management systems (DMS) and social media, financial sources, product preferences, customer lifecycle information, and much more. Distilling these many data points can help you predict how likely customers are to make a purchase and why. But (there's always a but), there are a few things to consider before jumping into the wild world of customer data. This information comes from a high volume of sources, so gathering data is time consuming. Then, once you've collected the data you want, it's difficult to understand how all these points correlate without machine learning and powerful algorithms. But 32% of marketers possess inaccurate customer data, and 45% lack the internal resources to make proper use of any of it. The steps between knowing what's available and making it work for you shouldn't scare you away from doing the work, though. This data can make you powerful and helps you gain the deepest understanding of customers. For instance, accurate, carefully parsed data can tip you off to when the right circumstances, like a new job, expiring warranty, or a move from the city to the suburbs, align for a customer to make an immediate purchase. Making sense of these and thousands more personal data points, including credit score and vehicle accident history, is a necessary task for the modern dealer. Okay, so let's say you've got usable customer data and the means to make sense of it all. What's next? Enter the third factor.