With the rise of social media and an ever-increasing global interconnectedness, competition for buyers’ attention is steeper than it’s ever been. Suddenly your business is forced to reckon with the desires of unpredictable and ever-shifting demographics, and compete with companies you never knew existed.
If you want to be successful in this new climate, your dealership needs to do more than simply sit back and sell cars. You need to dive headfirst into these new waters and follow the current to understand what the people really want.
The only way to do that is to look at the data. In this article, we walk you through why it’s so important to keep tabs on up-to-date auto data, and how to use it to ensure your dealership stays competitive.
Why is auto data important?
Auto data is composed of specific data collection branches designed to optimize your vantage-point within the market. For example, Interactive heat mapping tools, zip code breakdowns, and extensive vehicle data from state registrations offer you a full view of what customers are buying and where they’re making those purchases.
Market analysis and dealer summaries allow you to keep track of competitors to ensure that what you’re offering is always a step ahead.
These are just a few advantages an online data platform like Cross-Sell Interactive® offers you. Let’s take an even deeper dive into the importance of auto data for your business.
Automotive macro trends provide buyer insight
As mentioned above, customers’ focus is being pulled in more directions than ever before. Even for a local dealership, these global trends are massively impactful for long-term business. What can you do to make sure you’re grabbing buyers’ attention in an increasingly diversified market?
Cross-Sell Interactive®️ compiles a wide array of statistics that take macro trends from across your market field to give you a clear picture of where your customers’ interests are pointed.
With this useful information you can make precise and effective decisions on how you want to stock your own product, as well as how you decide to develop your advertisement strategies.
Auto data pinpoints your customer base
It is always good to utilize up-to-date statistics when making decisions for your business. But remember—country-wide, or even state-wide trends do not necessarily speak for your customer demographic. It is vital that you identify your customer base.
Using zip code breakdowns to identify specific makes, models, and buyer and seller locations in selected areas, you can create a comprehensive map of the local trends of your target customer base. Comparing these trends to those compiled on the macro level will put you ahead of your competitors.
Auto data helps to gauge your competitors.
Speaking of competitors—it is easy to become hyper-focused on your own objectives when building a sales strategy. But you can’t forget to pay attention to the strategies of those you compete against. To do this, Cross-Sell Interactive®️ provides you with market analysis reports.
These reports are vital for your maximization of new business and market share. They will help you keep a close eye on competitors, track short-term market trends, and efficiently utilize your advertising budget by targeting your demographic’s hot zones.
Predict future trajectories using auto data
Reading current trends and applying them to your business strategy is all well and good. But in 2021, every successful business is applying these same trends to their plan of action. In order to make your way to the top, you need to see beyond the horizon and plan accordingly.
For example, as an eco-friendly focused attitude continues to surge throughout the automotive industry, projections for electrified automotive vehicle sales are tipped to reach nearly 25% of the global market by 2025.
Analysis of this trajectory can serve as a marker for where your business might be five years from now. Making use of these sorts of trend predictions will offer insight for how your business can stay on top of this wave toward eco-consciousness.
There are untold applications for future trend prediction within the automotive industry. Cross-Sell Interactive®️ is just the tool to keep you in the know of where your business is thriving as well as where it might be veering off course.
Apply auto data to your dealership.
Applying these auto stats to your business is where it all comes together. When you incorporate the data tools of Cross-Sell Interactive®️ into your dealership’s sales strategy, you now have the insight to build custom market maps that fit your specific needs.
This platform’s reporting can also be customized to prioritize areas you feel are most integral to your success.
Of course, you’ll also have access to the prebuilt report applications:
- SnapShot, which compiles a number of pivotal market statistics into one easy-to-read report.
- Market analysis, which utilizes set data points to help you gain new business.
- Quarterly MarketIntel™ report, which provides a three-month sales review, allowing dealers to view performance comparisons within a defined market.
All of this is designed to give your business the edge wherever you are now and wherever you want to go.
To learn more about accessing valuable automatic data, call Cross Sell Interactive®️ at 800.369.5870 or get a custom quote today.