One of the first applications of data analytics
in the service drive was the development of
simple equity mining tools. It made sense for
dealers to identify potential prospects who
had positive equity and could profitably be
placed in a new car.
But, as owners hold on to their cars longer
and longer, equity mining tools have lost
much of their value.
Instead, comprehensive data mining tools,
such as Market EyeQ, can improve your
service-to-sales conversion rate by combining
equity with a rich array of other factors and
context that give your team the insights they
need to identify prospects and close deals.
GOING BEYOND EQUITY –
POTENTIAL SOURCES OF
DATA-DRIVEN INSIGHTS.
Family finances
Lifestyle information
Social media posts
Car-buying patterns
Credit reports
SOME SIGNS OF
OPPORTUNITY:
Out of warranty
Over lease mileage
New product design
Payment decrease
opportunity
Desired used car lot product
