When it comes to location intelligence for the auto enterprise, there are countless ways to enhance your dealership at every level and as a result, knock out the competition.
According to the Location Intelligence for Auto Marketers paper we commissioned with 451 Research, marketers in the automotive sector are more sensitive to the moves their competitors are making than any other vertical surveyed. In fact, 58% of those who said they are likely to increase their use of location data for marketing cited “pressure from competitors” as a driver. Location data can help auto marketers not only better their own marketing strategies, but also ensure the competition does not steal their thunder.
Location intelligence can be applied to many departments within an auto enterprise, including corporate marketing, media and agency partners, dealership operations and service, sales and business development, and finance/ operations/ strategy. Read on to learn how each of these auto enterprise departments can leverage data-driven insights to seamlessly map consumers’ offline car-shopping journey. These recommendations will provide better customer experiences, improve media and marketing performance, increase revenue, and boost efficiencies. So what are you waiting for?
Without marketing, your product has zero chance of being discovered and desired. Location intelligence can help marketing departments engage auto consumers in a variety of strategic ways.
Co-Branding + Sponsorship Opportunities
Auto marketers can analyze offline consumer behaviors, visitation patterns, and purchase intent to evaluate new partnership opportunities by leveraging location analytics to see the relationship between their visitors and other brands. This can help them identify opportunities that resonate with their target audience.
Loyalty Program Development
Through location data, marketers can gain a window into their consumers’ cross-shopping activities including brand affinity, visit frequency, dwell time, and more. Not only can this help them improve their loyalty programs, but it can also guide segmentation strategies.
Consumer Persona Building
By analyzing offline consumer behaviors such as brand affinity and loyalty, auto marketers can more effectively build their buyer personas and improve their marketing strategies and communication efforts.
Moving on to analyzing the competition — marketers can build conquesting and day-parting communication efforts based on consumer footfall to grow market share and marketing ROI.
They can leverage SDK technology within their mobile app to better understand their app users and their offline behaviors including loyalty, visit frequency, dwell time, and more.
Media / Agency Partners
Media and agency partners can help brands take their marketing to the next level through data-driven and consumer-centric insights.
Strategy is the key to success! Media and agency partners can identify and test new audiences and media-planning strategies to evaluate publishers, creative messaging, content platforms, media mix, and cross-channel investments.
After mapping consumers’ offline journey and path to purchase, these partners can activate geo-behavioral audience segments like branded audiences, predictive audiences (based on churn), seasonal, lifestyle, and more.
Cross-Channel Spend Optimization
They can leverage real-time, daily visit, and uplift metrics to optimize their media spend by creative, publisher, and geo for campaigns already in-flight. This will result in better media decisions and investments.
To prove ROI, media and agency partners can measure cross-channel advertising performance on digital, TV, OOH, and radio.
Dealership Operations & Services
It’s essential to understand how vendors and consumers are engaging at the dealership level to improve dealership operations strategies and keep customers happy.
Enhanced Dealership & Service Experience
To ensure the most optimal consumer experience, dealership operations and service professionals need to understand the busiest time of day for their dealerships, the time of day consumers prefer to visit locations, and how much time they actually spend “on lot.” These location-based data points will prove instrumental in enhancing service center experiences.
Model Demand Forecasting
In addition, footfall trends can help with building proactive model and service part demand infrastructures & forecasts.
Finance / Operations / Strategy
Finance, operations, and strategy departments can accelerate growth and reduce costs by optimizing operations with real-time, data-driven decisions.
Trade & Market Area Analysis
They can analyze state, DMA, and dealership-level performance by a variety of location-powered KPIs unique to location intelligence.
Real-time consumer footfall data can help with forecasting brand sales, revenue, foot traffic, visitation trends, and more. These revenue predictions are key to staying one step ahead.
Sales / Business Development
Finally, sales and business development teams can efficiently pinpoint undiscovered sales opportunities using location intelligence.
Corporate Social Responsibility
These departments can leverage location data to support nonprofit organizations and universities in their efforts to drive innovation around the globe by solving real-world problems such as natural disaster evacuation planning.
Differentiate Dealership Brands
Sales teams can also use location data to enhance their dealership sales strategies at the geographic and demographic consumer level.
As evident, location data can help solve many automotive organizational needs. Applying the strategies we discussed across an auto enterprise will lead to better, more data-driven decisions that will strengthen the organization’s retention rate and help them beat the competition.
To learn how location intelligence can be applied further, download our Location Intelligence for the Auto Enterprise infographic.