Data Mining – The Core of a Modern Automotive Platform
At this point in the game, if your dealership is not leveraging a data mining platform, you’re simply not operating at your optimal level.
Suppose you use a standard data mining tool that treats each customer’s communication the same. In that case, you are reaching out to inform your customers when they need an oil change or to wish them a happy birthday or a happy auto-anniversary. It’s the same old communication going out monthly to every customer.
That was a great angle to take 20 years ago, but today, it’s a waste of your team’s time and the dealership’s money. Customers more than not discard generic letters in the trash, which can harm your brand and relationship-building efforts when your customers continually receive outdated and non-applicable mail from you.
When was the last time you evaluated your communications strategy? When was the last time you did an audit to see how much your automotive platform contributes to overhead costs? It could be time for a quality control check.
Equity Mining Is Only Part of the Picture – Data Mining Offers So Much More
It is human nature to want to keep to the familiar and reject change, but when it comes to lead and sales generation, embracing the future of data mining is key to success.
Equity mining is searching for customers who have equity in their vehicles and can be good candidates for buying a newer car – it has been a valuable tool for dealerships for many years. However, the depth and breadth of this kind of research only goes so far and limits your sales revenue.
Data mining has gained a level of sophistication thought impossible only a few years ago. As a dealer-partner, we must strike a balance between equipping our dealers with the tools they need to be successful today and providing solutions that will allow them to thrive in the future – with tools they might not know they need.
AutoAlert’s data mining platforms significantly increase your leads through mining channels – including the service drive, retail, leasing, used vehicles, service-only customers (i.e., those who have purchased from other dealerships), and more.
You’ll know when car leases are expiring, when mileage penalties are looming, when warranties are expiring, when service needs to be done, when the customer is ready to trade, what types of cars are being searched for, which customers can swap keys for the same monthly payment when someone might be ready to opt for a minivan or even a vehicle pickup. Plus, credible offers are readily available for every customer. This allows your staff to start the right conversation at just the right time.
If your dealership is new to this type of mining for information, it may seem intimidating or overwhelming. That’s where the really great news comes in. One of the best parts of AutoAlert’s automotive data mining platforms is that the work is almost completely automated for you. The software provides thorough product training, a readily available support team, flexible solutions, intelligent marketing, and deep data-mining tools backed by the most robust data in the industry.
Data mining can pinpoint the motivated customer, know the exact reasons behind the motivation, know when to communicate, and tell you exactly what to say to have the right conversation. Simply put, data mining can tell you a story about your customer you would never have known, thus giving you opportunities you would never have had.
“Our company has tried multiple data mining services, and quite honestly, AutoAlert is a step above everyone else.”
Ariel Szwec, Dealer Principal at Arlington Heights Buick GMC