Why Comprehensive Data Mining is
the Only Way Forward for Auto Sales
Identifying and Qualifying Prospective Audiences
The first use case for automotive data mining software that many dealers encountered was
equity mining. It made good business sense to automate the process and expand the scope
of identifying and qualifying sales prospects with positive equity in their trade-ins.
As financing terms have evolved and consumers have stretched vehicle ownership as far as
possible, the result has been a historic cratering of positive vehicle equity industry-wide.
When there's little equity to be found, reliance on equity as the focus of an automotive data
mining solution limits a dealership's potential return on their digital investment.
That's certainly not to say that there is no value to knowing which prospects have positive
equity. A dealer can leverage this information as part of the sales process. However, equity
mining on its own is no longer an automotive data solution that is driving meaningful ROI for
dealers. Data mining, particularly leveraged as a component of a comprehensive dealer
sales platform, is the only way forward.
For years, dealers have turned to equity mining tools to try and streamline identifying revenue
opportunities in the service drive. But as consumers hold on to their cars longer than ever and
technology continues to evolve, these standalone processes have lost much of their initial value.
Traditional equity mining tools leveraged in the past aren't enough to help dealers compete in today's
modern automotive marketplace. With car buyers increasingly opting for personalized customer
experiences, dealers need a 360-degree view of their audience to win – and retain – buyers.
In this whitepaper, we will discuss three key use cases for comprehensive automotive data mining in
the modern dealership environment:
• Identifying and qualifying prospects
• Predictive marketing
• Next-generation customer experience (CX) management
33%
of new car sales
are made to
customers with
negative equity
26%
of used car sales
are made to
customers with
negative equity
