The modern economy is a complex system that requires retailers to be well-versed in marketing technology and data collection. This is especially true for the retail automotive sector, whose consumers are starting to feel more and more frustrated with the outdated selling practices used at many dealerships.
On this episode of Driving Solutions, host Jim Fitzpatrick is joined by John Campos, automotive industry managing director at Acxiom, and Brian Pasch, founder of PCG Companies, to discuss how dealers can adapt to the needs of modern car buyers while improving their quality of service and speed of operations. Acxiom is an industry-leading marketing technology firm that allows dealers to identify leads, tailor their strategies and sell more cars. As a long-time advocate of data-powered retailing in the automotive sector, Pasch is uniquely qualified to discuss the advantages of modern customer management systems.
1. A majority of consumers desire a personalized experience from their retailer. Marketing technology and the proper application of premium data can help dealers create a customizable and more profitable car-buying journey where the process is directed by the buyer.
2. One of the challenges to adopting modern retail systems into the dealership is the variety of platforms that dealers must use. To make the most of their data and reduce friction between online and in-store operations, businesses must ensure that the tools they use are able to integrate and communicate with each other.
3. Although some marketing technology platforms are exclusively used by larger dealership groups, other retailers can still improve the utility of their data by removing useless or outdated records and replacing them with relevant, current information.
4. Premium data can be used to identify leads, improve car buyer retention, enhance customer engagement, save money on marketing campaigns and attract more consumers.
5. OEMs are now requiring their dealers to adopt modern marketing technology, such as consumer data platforms. This means that retailers now have the support of automakers in their efforts to adapt to today’s car buyers.
"The move to data management platforms...have to also come with a discussion of: who am I going to partner with to help me keep this data up to date?" — Brian Pasch, PCG Companies