DDM - Auto

How to Better Optimize your CRM and find High Potential Auto Shoppers

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How to Better Optimize Your CRM and Find High Potential Auto Shoppers Best Practice for Automotive Marketers case study Auto marketers can better identify best customers hidden within their Customer Relationship Management (CRM) database and improve marketing efficiency by working with Equifax to augment their existing shopper records with consumer financial capacity and auto buying propensity measures. Optimal shopper profiles can be used to enhance marketing models and can be applied to multiple channels including direct mail, online, mobile, TV, and email, as well as via the showroom floor and lead prioritization systems. Challenge: Identify High Potential Consumers Within CRM Database Auto manufacturers, service providers, and dealers have reams of demographic/life-stage data within their CRM systems about their existing and prospective customers. While this data can help indicate which consumers might be interested in buying a vehicle, it does not often uncover the subset of shoppers that are likely to have the financial capacity to purchase. Thus, auto manufacturers and dealers may be spending some of their limited marketing budgets on consumers that might not be a good financial fit for their brand and models. Auto marketers need new measures to help them identify hidden, high potential consumers within their CRM databases. The goal is to be able to efficiently identify and market to consumers that are likely to have the financial resources to be able to purchase the brand and models that are in inventory or on the showroom floor. By better understanding shoppers' buying potential based on estimated financial ability to purchase, auto marketers can make the most of their CRM systems, enhance their marketing models, and identify which consumers are optimal targets for marketing and sales efforts. Automotive CHALLENGE Auto CRM systems may include valuable customer insights but are often unable to uncover the subset of shoppers that are likely to have the financial capacity to purchase or lease a vehicle, resulting in inefficient marketing efforts. SOLUTION Better identify and target high potential auto shoppers by profiling best customers with estimated consumer financial measures and other characteristics to develop optimal shopper profiles that can be applied to CRM databases and predictive models. EXPECTED RESULTS Auto manufacturers can improve the efficiency of marketing campaigns by separating "lookers" from potential buyers within their CRM databases based on auto shoppers' likely financial ability to purchase.

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