Issue link: https://resources.automotivemastermind.com/i/1206000
How Data Has Transformed the Traditional Car Buying Journey Understanding Your Customer Traditionally, dealers began the sales process through broad marketing campaigns, targeting likely demographics for their brands. The sales process started when the customer walked through the showroom door. We've completely changed that model of the car buying process with Market EyeQ. Rather than identifying broad groups of people who might make sense for your dealership, Market EyeQ's predictive analytics use data from IHS Markit, Carfax, TransUnion and other private and public sources to scour your entire market and identify the highest quality leads for you with the highest rates of conversion. Our Behavior Prediction Score® assesses your entire market (whether they have bought from you before or not) and generates a 0-100 ranking of the top prospects for your sales team to focus on. When you're engaging proactively with prospects who are in-market with offers tailored to their specific needs, you're providing a service to modern consumers who value personalization. You're also showing you've made the effort to understand their wants and needs. More Valuable Touchpoints Today's consumers can't stand having their time wasted. This fact, coupled with the cost pressures you face, means you can't afford to miss the mark with sending the wrong offers to prospects during their car buying journey. Data and analytics have transformed almost every industry in America, fundamentally changing how consumers and companies interact. Those winds of digital change have come for auto dealers, and very little will ever be the same. It's not just online shopping or sales that are upending the car buying experience. Rather, data and analytics are driving a fundamental transformation of how customers and dealers interact throughout the car buying journey. Dealers must effectively leverage digital platforms to lead their customers through the new car buying journey, rather than running to catch up to consumers who have left them behind. That's where Mastermind and Market EyeQ comes in.