Advanced Dealer Solutions is fully committed to providing information that could be beneficial. We wanted to share this information from, Greg Geodakyan the CPO of Client Command, as he shares his insights into the data needed to help take dealerships to the next level.
It’s been my experience that the average dealer makes marketing and outreach decisions based on 90-day old registration data. Think about it. How many of your tools rely on typical, standard 90 day trends and projections? In a world shaped by Covid-19, that must change. Dealers should be shifting their data paradigm to what is real-time, behavior-based and Covid-relevant. Anything less limits a dealership’s ability to both survive this crisis and then navigate the recovery on the other side.
Many dealers rely on their CRM to forecast sales and revenue. Most often, I work with dealers who assess equal value and apply a similar approach to all leads submitted within the past 60 days. While the data point is behavior-based, it is grounded in a purchase-intent action taken by the potential buyer. Its value is limited by its age and potential irrelevancy to the Covid reality.
Potential buyers submitting leads 60, 30 or even 10 days ago are not at the same stage of the purchase funnel today. Consider the 30 million Americans unemployed due to Covid-19. Any purchase intent that person may have had two months ago is likely irrelevant to his or her current situation.
I was talking to a colleague yesterday with a six-year-old vehicle in a prime equity position. Every few months, she receives marketing to trade-in her vehicle, yet she never considered a new vehicle until the OEM put forth recent incentives in response to Covid-19. For two weeks, she’s been online researching different models, but has heard nothing from the dealership. Why? Because the data the dealership needs to tell them this customer is back in the market is not part of their long-range offline data models. They need to be informing their marketing spend and sales team calls with real-time behavior-based, online shopping data.
Contact your ADS associate to book an information webinar with Client Command.