09 October 2019
Auto dealers have more data available to them today than ever before. There’s no getting away from the sheer volume of information floating around, and savvy car dealers are even now using these data sets in their many databases to generate valuable insights and find out ways to drive incremental sales and profits.
But with your car dealer website’s success depending more on your data with each passing day, how do you know that your auto business is dealing with it correctly? A good starting point would be to check if your dealership data is SMART.
S = Secure
Before you do anything, make sure you have a plan to secure your data both physically and electronically. This is important, as the last thing that you need is your clients’ details being leaked.
New data security measures come out frequently, so ensure that the ones used by your car dealer website is up to date.
M = Manage
What is the best way to effectively manage vast amounts of data? If you don’t have a data mart and data vault strategy, consider getting it done as it is certainly worthwhile.
A good data management tool will enable your auto dealership to store, alter, and retrieve that data in any format that you require.
A = Action Analytics
If all that you’re doing with your car dealership’s data is generating historical reporting, unfortunately you aren’t being data SMART. Identifying how ingesting that data can help provide actionable analytics that improve your business is what’s needed.
This is where Action Analytics comes into play, as it enables leveraging your data to its fullest capacity.
R = Refine
Once you are able to take action using your data, you will better understand how to refine your business practices to boost sales and gross.
Steady, incremental improvements to your auto dealership will generate more long term success than process improvements and training initiatives.
T = Trust & Track
When you have a dependable data plan in place at your auto dealership, you will be able to trust the data. You can then leverage those customer insights to immediately track how well your strategies are being implemented and whether they are producing the required results.
For more information on using SMART data analytics at your auto dealership, Contact Us.