Buyers today want to shop with the brands and the people they trust. Cox Automotive has done a lot of work around lead quality and consumer buying signals. Here to discuss how data can be leveraged to build customer connections, is Robert Dimson, Senior Director of Client Marketing for Cox Automotive.
At a time when inventory is at its lowest, not all sales are the same. Leads might be coming in at a fast pace, but how can car dealers identify the right ones to spend their time and energy on? Many car dealers still believe that a higher volume of leads equals more sales, however, data shows us that is not always the case. Not all leads carry the same value or quality, says Dimson. Car dealers have to develop a process in their CRM that prioritizes leads. That is what Dimson and Cox Automotive are helping to do.
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It is also crucial to have a diversified, digital advertising strategy that can lead to positive disruption in the marketplace. Dimson recommends that car dealers take a closer look at how they reach and engage with active shoppers. In such dynamic times, to qualify leads, dealers need strategic insight to close deals at a faster rate.
In order to validate return on investment and analyze their inventory investments, car dealers are using tools like Market Extension Essential and nVision. These digital marketing analytics tools capture predictive insights for real-time shopper engagement. These insights can be accessed through a single user-friendly dashboard. Market Extension also allows car dealers to list vehicles outside of their market which opens up a whole world of possibilities. To cap this off, car dealers can utilize a digital retailing platform like Accelerate My Deal to meet consumers further down the funnel in whatever markets they want.
So, how does this all translate into digital marketing opportunities for 2022? Here are Dimson’s recommendations:
- Quality of your market audience is key. Look for partners who can help you build audiences in real-time.
- Activate the data you already have. Consider a first-data partner.
- Create long-term customers. Develop a strategy that measures the changes in consumer behavior.
It’s really about relationships and building trust and connection with consumers. Cox Automotive is doubling down on first-party data and leveraging insights and buying signals across all of its brands. They are constantly monitoring where consumers are in their shopping journeys. Who better than, to help car dealers identify those quality leads?
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