Predictive Marketing for Dealerships 201

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Uncertainty regarding new vehicle inventory, evolving consumer demands and changing buying models are continually challenging the automotive industry. While some have taken more reactive steps to prevent losses, proactive dealerships have embraced the opportunity head-on, leveraging predictive marketing tools to make data-driven decisions from planning regular customer outreach to building inventory acquisition strategies and beyond. To do this, dealerships are using predictive analytics to: 1. LEVERAGE FIRST-PARTY DATA TO FUEL PERSONALIZED OUTREACH Every dealership has its own process and approach for collecting and entering information in their CRM and DMS. This first-party data is invaluable to a dealership's sales efforts, and when enriched with high-quality, third-party data can be used to fuel powerful predictive marketing campaigns. Predictive marketing platforms like Mastermind empower dealers to maximize their available data to: Develop personalized messaging Ensure every message is tailored to your customers including a strong F&I component and an actionable offer based on household financial data and other factors. Deliver messaging in the appropriate format Engage prospective buyers in their preferred format, whether that's via direct mail, email or SMS. Create a consistent customer experience Keep customers engaged by ensuring every message builds off the last, is consistently on brand, and meets buyers where they are in their customer journey. 2. CREATE DYNAMIC CUSTOMER PROFILES Faced with fewer options on the dealership lot – and more options for where and how to shop than ever – customer loyalty has diminished in recent years. For dealers to proactively protect their customer base while conquesting customers from the competition, building dynamic customer profiles to fuel predictive marketing campaigns is key. This enables dealers to: Personalize customer profiles Record contacts with key details such as registration data, current vehicles and service and accident history as well as motivational purchase drivers specific to that customer. PREDICTIVE MARKETING FOR DEALERSHIPS While 74% of customers are comfortable sharing general demographic data, 23% are actively uncomfortable sharing specific contact details. 3radical, 2022

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