October 23, 2017 – Dealer Marketing Magazine – It’s no secret that auto buyers shop around. In fact, they’re savvier than ever.
They come to the dealership armed with research they conducted online or with their phones and tablets. They rattle off comparison data about torque and cargo space (even if they can’t tell you what torque actually does), and they’ve got numbers on lease deals from your competitors down the street or in the next town over.
But just as in-market auto buyers have gotten smarter, so have automotive brands and dealers, and mobile location data is helping them get there. For instance, it’s showing them that mass-market brands elicit the most comparison or cross-shopping, while there’s far less dealership-visit crossover when people evaluate luxury vehicles.
This sophisticated information can show not only that buyers who went to a dealership also visited a different dealership, but specifically which competitor locations they visited, and whether they went there before or after.
It can also show when people stopped at a dealership after visiting a home goods or grocery store nearby, or have come directly from a residential location in a nearby city.
It can be combined with other data to indicate the customers’ approximate age ranges, income levels, and other demographic data, such as whether they are likely to have children.
All of this is good news for today’s dealers. It means they have the opportunity to be as data-driven in their roles in the auto-selling process as their customers are on the buy side.
To continue reading Gladys Kong’s article for Dealer Marketing Magazine, please click here.