When it comes to data, it’s not just about what you know, accuracy, access, and speed matter as well. Battle lines have been drawn, and dealerships with access to faster customer data are winning the competition for modern customers. Does your DMS partner work to provide flexible reporting options and role-specific dashboards, helping you access, manage, and protect your dealership’s data? Let’s take a look at how to deal with data management and your DMS and technology partners below.
Keep Your CRM Data Up to Date
Keeping data up to date doesn’t sound like anyone’s ideal job description, especially salespeople who are busy interacting with actual customers. But to succeed in today’s digital world, ongoing data housekeeping is an absolute must. In fact, 75% of thriving dealerships proactively keep their CRMs updated.
Make sure your customer records are up-to-date and filled with as much first-party data as possible. And, there’s some good news for salespeople (and everyone else)—comprehensive technology integrations allow your systems to communicate with each other. These integrations can automatically record customer interactions, eliminating a lot of manual labor and data entry.
Leverage Cox Automotive Data
Your dealership’s own data can only take you so far. It’s certainly helpful, but it’s also limited to the interactions you’ve had with your specific customers. Cox Automotive data, touch 75% of vehicle transactions in North America—that’s 3 out of every 4 buyers—giving you access to a world of customer information.
With brands like Autotrader, Kelley Blue Book, and Dealer.com, Cox Automotive data can help you know where customers are shopping, what they’re looking for, and when they’re ready to buy, giving you a significant advantage in the competition for customers.
Partner with a DMS that Doesn’t Restrict Data Access
Who really owns all this data anyway? It’s a hot button topic in today’s digital industry, and opinions vary from person to person, and even from technology provider to technology provider. Some providers restrict your data under the guise of customer privacy. Others take your side and support your rights to your use your data.
As the competition for online customers ramps up, you want a technology partner that doesn’t restrict your access to your data. You want a partner that can help you segment your customers lists, target shoppers and personalize messages. In short, you want a partner that can help you win deals. It’s no surprise that the vast majority of thriving dealers (86%) agree that having accurate and complete customer data is a top priority.
Give Your Dealership Some Muscle
Whatever your position at the dealership, having clear insights into the future outlook of your business is no longer just a ‘nice to have,’ it’s critical. Get the data you need delivered to your team in fast, clear, and easy-to-decipher reports and dashboards with Critical Analytics using the data directly from your DMS.
As buying preferences shift and the industry evolves, the more you know about your customers, the better off your dealership will be. Data is the future of the industry, and the future is now. Win the war on data (and partner with a technology provider that can help manage and fight for your data rights), download Thrive and Survive: A Handbook for Dealing with (Almost) Anything.
Learn how to thrive against the competition with the new guide, Thrive and Survive: A Handbook for Dealing with (Almost) Anything.
