Six years ago, Mastermind attended our first National Automobile Dealers Association (NADA) Show in San Francisco, with a small 10x10 booth. We disrupted the industry with the introduction of behavior prediction technology to help dealers sell more cars. Our proprietary algorithm and Behavior Prediction Score® revolutionized the way that dealers communicate with their loyalty customers, ultimately increasing retention sales. Over the years, we evolved the concept of ‘equity mining’ into ‘data mining.’ Since then, many of our competitors have developed a similar likeliness-to-buy scoring system and NADA show floors annually are filled with companies claiming to do all or part of what we do. This year was no exception and we made several major announcements leading into the show, capped with receiving an award for excellent dealer satisfaction and the debut of the first-ever automotive sales platform.
Mastermind was founded on the principle of simplifying and improving the car buying process for both the dealer and consumer. We empower our dealer partners to have intelligent and personalized conversations with prospects utilizing our proprietary behavior prediction technology and highly-personalized marketing. As a result, this year we were recognized with a DrivingSales Dealer Satisfaction Award in the Owner Marketing category. The award measures dealer satisfaction with vendor products and services and is based on cumulative ratings tallied and verified during the calendar year. We’re so grateful for our dealer partners and we appreciate all of your kind reviews that allowed us to win this award.
The First-Ever Automotive Sales Platform
Fast forward to NADA six years later. As we stand on the same show floor where we debuted Mastermind to the industry six years prior, we debuted to the industry the first-ever automotive sales platform, Market EyeQ. Market EyeQ allows dealers to view their full prospective buyer market more holistically, no matter if that customer comes from your retention, service, or conquest portfolio. Backed by real-time proprietary data, Market EyeQ helps identify, communicate with, and close more customers in a dealer’s local market.
Part of what makes this sales platform so unique is Mastermind’s partnerships and relationships which grant us powerful datasets. Access to proprietary household demographic data from IHS Markit and key vehicle history details through the Carfax Snapshot tool gives dealers an exclusive 360-degree market view. Further, our partnership with TransUnion uncovers potential sales opportunities with customers who have not previously bought from a dealership. These partnerships, coupled with information from your current Dealer Management System (DMS), allow dealers a holistic view of their local market by enriching the data they have on-hand and supplying them with data for prospects unknown to them.
Why limit your focus to 10,000 loyalty customers when you can see 100,000 customers of all types in your local market, including loyalty, conquest, and service customers?
What does this mean for dealers? No more segmenting your buyer audience and managing multiple technologies to find and market to different types of prospects.
With projected sales for 2019 to dip below the 17 million mark, dealers will need to do even more to compete and grow in this flattening market. At Mastermind, we are committed to leading the charge in the industry for our visionary approach to selling cars. We have set a precedent as the company that can help dealers stay ahead of evolving sales trends.
We met with more than 150 dealers during NADA to debut and demo the industry's first-ever automotive sales platform, Market EyeQ. Did you miss out? Sign up for a demo today.