SCHAUMBURG, Ill. — Experian announced new data and analytical capabilities designed to help dealers quantify in-market car buyers within a 15-mile radius, reach prospects through the right communication channels, and measure the effectiveness of marketing campaigns.
In a release, executives said the Experian Automotive Intelligence Engine leverages the company’s unique data sets to offer dealers insight into life events that often indicate in-market behavior. Examples of these events include marriage, a new home, vehicle incidents, and vehicle finance information such as lease maturity, end of loan, and vehicle equity.
To turn these insights into action, the platform helps identify the most effective communication channels to reach the intended audience, as well as attribute sales results to specific campaign elements. This enables dealers to refine their marketing strategy and optimize future campaigns, said John Gray, Experian’s president of automotive.
“Experian is committed to making data more accessible to dealers, and our Automotive Intelligence Engine puts our resources at their fingertips in an easy-to-use interface,” Gray said. “The dealers that can identify and connect with the car buyers most likely to be in-market gives them a strategic advantage over the competition. These dealerships can grow market share, reduce wasted ad spend and improve the customer experience with relevant communications.”
Originally posted on F&I and Showroom