05 June 2019
In simple words, the process of bringing together all the data sources available from your car dealer website in order increase the dealership’s returns on investment (ROI), and optimize its productivity, is referred to as data consolidation.
Relevant data that isn’t connected cause businesses to lose close to $150 billion on an annual basis, according to studies that have been conducted in the field.
In this article, we’ll shed light on why the lack of data consolidation can put you at risk of losing money.
It Leads to Work Duplication
Unconsolidated or disconnected data will result in your car dealership staff members not being able to get their hands on the required information without hassles. This can lead to duplicating efforts across departments, with staff members doing the same work that someone has already done.
In addition to wasting time, money and other resources, work duplication can also result in missed sales opportunities. For instance, if a prospective buyer calls your dealership using a number from your car dealer website and gets a price quote for the vehicle they’re interested in, and then visits your showroom and ends up getting a different quote from sales, the customer will undoubtedly lose trust in your auto dealership. They most likely won’t go with the deal and instead, may take their business to a rival dealership.
Another example is if your sales team makes a follow-up call to a lead and ask the same questions they already answered on their conversion form. This is a waste of time and could also affect your chances of closing the deal.
Wrong Representation of Auto Dealership ROI
Without consolidating dealership data, it will be difficult to figure out how well your marketing efforts are actually performing. Even if customer lead data is easy to pull out, it alone won’t provide you with an accurate picture of your auto dealership ROI.
Lead data needs to be connected with information regarding customer interactions with ads, their eventual purchase details, further information about service visits, and so on. With the ability to track whether your marketing actually led to sales and repeat business, your car dealer website marketing budget can be put to much better use.
To read the second part of this article, click here. For more information on data consolidation, Contact Us.