Evaluate new dealership locations using customer economic insight

December 3, 2020

Use Case – Automotive

In this use case we explore how to use customer economic insights.

Situation: Auto dealer turns to Equifax for a solution to better understand existing customer profile to aid in new dealership location planning.

Challenge:

An auto dealer seeks to determine sites for new dealerships in surrounding states. 

The dealer wants to better understand the profile of current best customers in order to help guide new location planning.

Solution:

Equifax provides economic insights including estimated household income, discretionary spending, and segmentation data, to help profile best customers at existing dealerships. 

After profiling best customers with economic insights, Equifax can help the dealer evaluate and identify markets in surrounding states that have similar profiles to its existing best customers.

Outcome:

By using economic insights, one dealer could:

  • Better understand the estimated economic profile and buying potential of existing best customers, useful for new location planning and for prospecting and cross-sell in existing markets 

  • Narrow its list of 20 possible new markets to 10, based on the likely economic profile of consumers in those markets

Results may vary based on actual data and situation.

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