Acquisition 101: How to Proactively Identify Auto Sales Leads

Issue link: https://resources.automotivemastermind.com/i/1287215

Contents of this Issue


Page 1 of 1

While dealers still tend to think of auto sales leads in terms of new or used vehicles, more consumers are erasing that distinction in their buying behaviors. This ongoing blurring of the lines between new and used shoppers highlights both the importance of dealers unifying their new and used sales management into one platform and the need for dealers to build a pre-owned product portfolio for their audience. By analyzing data from their CMS, DMS and new and pre-owned inventory in a single environment, dealers empower sales staff to match prospective customers with the vehicle they're most likely to purchase – whether that's new or used. Many of these shoppers are first-time buyers who in a normal marketplace would not appear to be high-quality auto sales leads. But without indicators such as previous purchases or vehicle preferences to guide the way, dealers must analyze other factors (such as life- events or financial data) to identify early buying behaviors. Maximize Your Service Drive Efforts & Loyalty Leads It's long been known that two of the most powerful sources of auto sales leads are loyalty customers and customers who service their vehicles with you but haven't purchased a vehicle from you. Traditionally, some dealerships would employ a dedicated manager or sales rep to own the service-to-sales process. Now, staffing constraints have limited this approach. Many dealers are finding predictive analytics are especially powerful for improving their service-to- sales process, especially as dealers have unique access to critical data about the customer's existing vehicle that informs how likely they are to start shopping for a replacement vehicle. This same proactive sales approach can be applied to loyalty prospects. For example, some of our most successful dealer partners use Market EyeQ's predictive and automated marketing capabilities to track customers on 72-month terms and structure personalized offers to well- qualified auto prospects with 36 months or less left on their current vehicle. To learn more about how the Market EyeQ sales and marketing platform can help your dealership proactively identify and convert auto sales leads, contact us for a free demo. are now also considering pre-owned options EDMUNDS, JULY 2020 800.801.0018 | info@automotiveMastermind.com ©2020 automotiveMastermind®. All rights reserved. | A business unit of IHS Markit™ 29% of new vehicle buyers Market EyeQ empowers dealers to improve loyalty retention up to 15% while converting service customers into new car buyers at a 4x higher activation rate than the competition. REQUEST A DEMO: automotiveMastermind.com

Articles in this issue

Links on this page

view archives of Whitepapers - Acquisition 101: How to Proactively Identify Auto Sales Leads