Digital Dealer - January 2019 - 48

S A L E S & VA RIA BL E OPS: Data & Analytics Continued from pg. 46

PREDICTIVE ANALYTICS WORKS MUCH LIKE YOUR
AMAZON OR NETFLIX ACCOUNT, BY COMPILING DATA
AND STREAMLINING THE INFORMATION FOR YOUR
SALES STAFF."
common pieces of consumer data include basic contact
details, vehicle interest and
purchase/service history.
Data allows sales staff to
be more prepared when a
prospect or current customer
walks into the showroom.
Having data allows your
sales team to know a lot
about customers: preferences regarding make, model
and features to prices,
deals, and leasing versus
buying and more. When a
salesperson is well informed
about a customer, they
feel heard and acknowl-

edged. This means you can
continue to learn about your
customers and know when
they are in need of a car and
what they are looking for.
This is invaluable as consumers prefer personalized,
time-saving, transparent
and gratifying vehicle buying
journeys.
When customers are
satisfied it fosters loyalty not
only for the brand, but for
your dealership. This allows
for a systemic shift in the
industry. Step one, gather
data. Step two, predictive
analytics...

AD V E R T IS E R S IN D E X
ADVERTISER

PAGE

DealerTrack................................ Inside Front Cover & 5
Cover Wrap
Kerrigan Advisors ...................... 21
National Pavement Expo.............1
Playback Now............................. 47
vAuto........................................... Back Cover
VinSolutions................................. 3
The index to advertiser page numbers is published for reader convenience. Every
effort is made to list page numbers correctly. The listing is not part of the advertising
contract and the publisher is not responsible for errors or omissions.

48

JANUARY 2019

D I G I TA L D E A L E R . C O M

HOW PREDICTIVE
ANALYTICS WORKS

Predictive analytics works
much like your Amazon or
Netflix account, by compiling
data and streamlining the
information for your sales
staff. Think about it to the
likes of Amazon and Netflix
and how those services
identify products or shows
that you're most like to buy
or watch, at a specific time,
because it's always learning
more about your consumer
habits. This technology can
be applied to the automotive
industry, thanks to the mass
amount of data dealerships
generate about their customers.
By implementing predictive analytics at your dealership, information about
customers is seamlessly
packaged in a way that is
easy to understand and ultimately helpful from the first
point of contact with the customer. How? Because the
salesperson already knows
the customer's backstory,
preferences, etc. Predictive
analytics allow dealers to
drive sales with the right
customers at the right time.
That way your sales team
is never reaching out or marketing to customers that aren't ready to start the vehicle
purchase journey. Predictive
analytics is a way to easily
understand the data that you
already have at-hand so that
you can work smarter not
harder.

By having all the information necessary at the first
point of outreach (be it a call,
email, meeting or any other
form of marketing) the sales
team can deliver an impeccable and relevant customer
experience that will build
trust. This also means sales
people can offer a relevant
product, deal and price.
THE BOTTOM LINE

Dealerships can save time
and effort by targeting the
most promising customers
from the get-go. Analytics
can help salespeople to be
more knowledgeable and
transparent, which lead consumers to be more responsive and ultimately allows
the dealership to increase
sales.
What are your next steps?
Review your data and get to
know your current customers. Implement a predictive
analytics tool so you can
use this data to be more
informed about prospective
customers and reach out to
the right customers at the
right time with the right deal.
And lastly, measure your
success so that you know
how your predictive analytics
tool is tracking and driving
sales.
JOHANNES GNAUCK is
Co-CEO and founder of
automotiveMastermind
(automotivemastermind.com),
the leading provider of behavior
prediction technology and
marketing automation technology.
automotiveMastermind is a part
of IHS Markit.
http://www.automotivemastermind.com http://www.DIGITALDEALER.COM
Digital Dealer - January 2019

Table of Contents for the Digital Edition of Digital Dealer - January 2019
