Digital Dealer - June 2019 - 31

MA R K E TIN G & AD V E R TISIN G: D ata & Anal y ti c s

By Ken Gibson
Data Analyst,
Black Ink Technologies

Tracking Data
to Outpace the
Competition
Keeping track of data
provides insight on how
your dealership is performing, lets you know what you
should currently be working
on, and helps you prepare
for the future. For those reasons and more, staying on
top of data management is
a crucial component of any
strategy that will allow you
to outpace the competition.
If it were car parts, data
would be the rear-view
mirror (for letting you know
what's behind you), the
engine check light (for its
ability to warn you), and the
headlights (because without
it you'd be stuck 'in the
dark').

DATA & ITS
MANY LAYERS

Dealership data comes
in different types: Discrete
data is restricted to a limited
set of values (i.e. the model
of a car). Continuous data is
any value that falls inside a
defined range (i.e. the exact
manufacture date of a car).
In addition to having
different types, dealership
data has multiple layers.
Take any new car that you
have sold, for example. You
probably have its VIN, contact information for the manufacturer or distributor you

IF IT WERE CAR
PARTS, DATA WOULD
BE THE REAR-VIEW
MIRROR (FOR LETTING
YOU KNOW WHAT'S
BEHIND YOU), THE
ENGINE CHECK LIGHT
(FOR ITS ABILITY TO
WARN YOU), AND THE
HEADLIGHTS (BECAUSE
WITHOUT IT YOU'D BE
STUCK 'IN THE DARK')."
bought it from, and contact
information for the buyer; so
just for that one car there
are three layers of data: the
car layer, the manufacturer/
distributor layer, and the
owner layer.
FIND YOUR DATA
MANAGEMENT FIX

Picking the right software solution to fix your
data management issues is
a tough decision to make.
The majority of dealers utilize multiple data management software solutions, as
the art of running a dealership successfully is just too
complex for one to handle.
One piece of the puzzle that
there is a sound solution for
is customer relationships.

Customer relationship data
is important to keep track of
because by analyzing it you
can determine which selling
strategies have worked
the best, which customer
demographics you should
pitch certain products, what
conditions your salespeople
sell the most well under,
and more - that is why you
need a CRM.
CUSTOMER
RELATIONSHIP
MANAGEMENT (CRM)

A CRM platform is useful
for both managers and
salespeople alike. Managers can use CRM to look at
how their sales team is doing overall, assign territories
to individual sales represen-

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

tatives, track key performance indicators such as
inventory turn rate, and
more. Salespeople can use
CRM to store customers'
contact information, schedule appointments, study
their own past performance,
and more. Depending on
the CRM you choose, it
may have marketing automation features, such as
the ability to set reminders
or send personalized emails
to customers en masse.
A lot can go wrong if
a dealer loses track of its
data. Furthermore, it pays
to store data because even
the smallest bits of data
can be used (in aggregate)
to build analytical models
that will help steer your
decision-making in the right
direction. Some of your
employees may (because
they're 'set in their ways')
not want to start using a
new piece of software. Or,
some of them may (for
whatever reason) be averse
to using computers in the
first place. This will make
your life as a manager more
difficult. But, even though
they may require you to
work harder at the onset,
plans to implement software
solutions for your dealership
almost always proves to be
worth it in the end.
KEN GIBSON is a data analyst

at Black Ink Technologies, which
helps the premier manufacturing
industry sell more, faster and
smarter. The SaaS platform
provides more visibility across
the entire supply chain-from a
manufacturing plant to distributor,
to territory managers, to dealers,
to the local marketplace.

JUNE 2019

31
http://www.DIGITALDEALER.COM
Digital Dealer - June 2019

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