Predictive Marketing for Dealerships 101

Issue link: https://resources.automotivemastermind.com/i/1460799

Contents of this Issue


Page 1 of 1

800.801.0018 | info@automotiveMastermind.com ©2021 automotiveMastermind ® . All rights reserved. | A business unit of IHS Markit™ LEARN MORE automotiveMastermind.com Simplify Process & Operations There isn't one perfect way to sell a car, much like there are as many ways to communicate as there are customers. Advanced marketing tools like Mastermind help dealers simplify processes and operations like acquisition and inventory strategies, reducing reliance on paid lead providers. Build a Stronger Team No matter the time or place, connecting every department to work from the same information is key to dealership efficiency and success. By unifying customer insights dealership-wide to connect the dots between departments and unify their team's approach, dealers can leverage predictive analytics to effectively build stronger dealership teams. HOW CAN DEALERSHIPS LEVERAGE PREDICTIVE ANALYTICS? With the right predictive marketing tools, dealerships can leverage the insights in their database to understand their customers on a deeper level, including the motivating factors behind their vehicle purchases. This empowers dealers to unlock new opportunities across the dealership, including: Mining Service Customers The service department presents the perfect opportunity for regular communications aided by predictive marketing technology. With marketing tools powered by predictive analytics, dealers can automatically send tailored service communications at key touch points, such as emails about service specials, text messaging reminders on seasonal promotions or even simple maintenance reminders. Driving Customer Loyalty To defend their customer base in today's highly competitive market, some dealers are using predictive analytics to identify and engage customers in their loyalty portfolio that are preparing to re-enter the sales cycle. By automatically engaging loyalty customers with personalized messaging designed to retain their business, such as extended lease offers or service reminders, dealers can proactively promote customer retention. Acquiring Inventory With auction prices reaching historic highs amid inventory shortages, buybacks and trade-ins have become critical to maintaining a profitable pre- owned inventory. Using marketing tools powered by predictive analytics, dealers can automatically mine their sales, service and loyalty portfolios for customers driving in-demand pre-owned vehicles well suited for a buy-back or trade. In today's continuously evolving automotive industry, predictive marketing tools are giving dealers the insight they need to reliably predict what will happen next and stay a step ahead of emerging challenges. Interested in learning how automotiveMastermind can help your dealership leverage predictive marketing technology and achieve sustainable success? Contact us for a free demo. Taking a similar approach using Mastermind's intelligent behavior prediction modeling, our dealer partners report increased retention sales up to 15%.

Articles in this issue

Links on this page

view archives of Whitepapers - Predictive Marketing for Dealerships 101