06 August 2019
The steep amount of change that is happening in the vehicle retail sector is causing a lot of uncertainty, but a good way to reduce doubt and forecast the future is through data analytics. Data analytics holds a lot of potential for car dealers. It can drive cost reduction, mitigate risk to a good degree, and drive up overall revenue.
However, providing data on demand through customer reports is no longer sufficient. Today, dealerships demand information that gives them the pulse of the entire dealership at any given moment – sales, marketing, service, accessories, and more.
Cars are becoming increasingly more connected these days, making them easy to integrate onto data platforms. This facility can also be made use of by the service departments of auto dealerships to track the status of the vehicles they have sold, report issues, and take better care of their customers.
The vast majority of car dealerships face several problems in the area of managing their inventory, keeping a tab on customers, and so on. Data analytics, when combined with cloud computing infrastructure, can go a long way in changing this by giving these auto dealerships the upper hand.
In addition to providing better inventory management that is fast and efficient, optimization of data insights becomes easier and trouble free by using data analysis at your car dealership.
The Key to Sales Success
The key to sales success is in being able to reach your customers through as many channels as possible.
For example, when a person steps into your competitor’s dealership, you need data that allows you to reach that customer by email, regular mail, social media, and mobile or display ads, or reach them through telemarketing.
Car dealers also definitely need to focus on getting a mobile first website for their dealership and pay attention to improving the relationships between themselves and customers. Apart from assisting in this regard, big data and analytics can also give auto dealers valuable information on how exactly to refine their marketing efforts to extract maximum mileage from them.
For more information on data analytics, Contact Us.