EPIC STEPS THAT’LL SKYROCKET AUTO SALES
Looking to Skyrocket Auto Sales?
Dealerships Crush the Competition With Predictive Analytics
In an age when customers have more power than ever to express an opinion on their shopping experiences, their ability to research car brands and to find confidence in a local dealership facilitates failure or success in the auto sales business.
Dealers demonstrate huge gaps in understanding the customer, ad targeting, cost per acquisition and car sales analytics. As the car industry faces challenges in developing targeted, contextual, customer-centric discounts or special offers, through data analytics predictive modeling ai technology, dealerships can now have the foresight on future sales based on years of historical customer data. The sophisticated algorithms will locate opportunities, analyze it, and then provide a prescriptive report.
Predictive analytics is an actionable roadmap that pinpoints to the date, the most effective areas to set ads, make deals with which prospects that are most likely to buy, with which product, at the best cost for the dealer.
Benefits include improved sales effectiveness, and margins and profitability levels, enhanced customer reach, increased marketing ROI, resulting in better customer satisfaction and loyalty.
See the unseen and with industry expertise opening a wide range of profitable opportunities. The digestible format is revolutionizing the way auto dealer management is reasoning with smarter decision making and operational improvements into their business’s DNA. By implementing the recommendations, management can feel the confidence, trust, and transparency in how they make decisions.
“Predictive Analytics determine which leads are “Hot” and who should be immediately contacted by the auto sales team.”
Predictive analytics solution for dealer margin management is rapidly transforming the automotive industry with forecasting reports that help sales teams accelerate the sale process and increase car sales.
With machine learning, trends are identified making relatively accurate predictions about future events. Management will have a clearer understanding of the customer segments, shopping patterns, recency and frequency to improve on the marketing efforts at segments as well as the individual level resulting in better sales productivity.
The finding was taken from IHSMarket learned that:
- Middle-aged people purchased significantly fewer automobiles in 2017 than in 2007 (down from 29% to 14% for people aged 35 to 44, and from 24% to 20% for people aged 45 to 54).
- Older audiences purchased significantly more automobiles in 2017 than in 2007 (up from 18% to 25% for those 55 to 64, and from 13% to 27% for those 65 and older).
In 2007, a majority of purchasers (53%) were age 35 to 54, while in 2017 a majority of buyers (52%) were aged 55 and older.
CBT Automotive Networks highly targeted, multi-media platform for retail automotive executives and managers use analytics for car dealers including predictive analytics modelling to enable them with critical decision-making capabilities in the areas of purchasing, sales, pricing, promotion, and demand forecasting.
As many dealerships face marketing challenges in developing targeted and contextual, customer-centric product discounts and special offers,Data Insight provides dealerships with the ability to attract, retain, and achieve profitable relationships with customers, while implementing the recommended sales and marketing strategies that will dramatically improve ROI.
Automotive predictive analytics forecasting prescription pinpoints how to manage addressable experiences with a car sales analytics measurement strategy in a scalable environment to serve as an accurate blueprint to rely on within your business strategy. We make auto dealership analytics a seamless effort taken from across all sources, internal and external, to derive foresight’s on sales, product, and campaign performance to implement. The benefits include:
- To develop a clearer understanding of the customer segments, shopping patterns, and frequency to improve on the marketing efforts resulting in better sales productivity.
Pricing Analysis & Benchmarking
- To develop optimal pricing strategies for achieved visibility on current price benchmarks, demand and price elasticity based on seasonal variations. Benefits include reduced overstocking and inventory cost for low performing categories, identifying likely hood of the sale, resulting in increased sales, customer satisfaction and profitability.
- To define the ideal product plan for inventory purchase decisions, category planning, accurately forecasting customer demand specific to multiple sales channels and seasons, and enhancing product decision-making and space allocation.
Product & Marketing Spend Management
- With shifting marketing conditions, this approach gives an affordable and swift formula to forecast solutions while radically reducing the cost, manual and labour-intensive steps traditionally required for data preparation for predictive modelling.
Prevent Customer Problems Before They Arise
With a better understanding of customer behaviour and what drives customer leakage, auto dealership predictive analytics forecasts significant opportunities and deficiencies enabling management with a plan.
Interventions that aid retention and prescribe advances to maximize penetration in an increasingly competitive marketing place.
Dealerships no longer need to sit between the business and technology. Car sales analytics can now be accessible for anyone to understand.
A translatable roadmap that fuels decision making for developing a scalable, repeatable process that prescribed interventions to avoid risk, drive profitability, and increased market share.
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