Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Lawrence Wittrock

Lawrence Wittrock Sales & Marketing

Exclusive Blog Posts

Audi Clearwater Among Top 86 U.S. Audi Dealers, Earns Coveted Magna Society Status

Audi Clearwater Among Top 86 U.S. Audi Dealers, Earns Coveted Magna Society Status

The Crown Automotive Group dealer was 1 of only 86 U.S. Audi dealers to qualify for the prestigious 2016 Magna Society Award. Audi Clearwater was evaluated…

How to Draw in Traffic With Video Marketing

How to Draw in Traffic With Video Marketing

After quickly rising to the top of the charts, YouTube has become one of the the most popular of any website online. It makes sense for any marketer to use…

5 Tips on Delegating Tasks to Underperforming Employees

5 Tips on Delegating Tasks to Underperforming Employees

No matter how carefully you hire or how well you manage your human resources, some employees simply don’t perform to the level you want them to. They…

Most Valuable Insight Finalist - Doug Van Sach

Most Valuable Insight Finalist - Doug Van Sach

Prioritize Your Prospects: Uncover Clues to Predict Who Will Buy Next Each year, the average customer test drives fewer vehicles. Given the fewer opport…

What to Expect as Driverless Cars Go Mainstream

What to Expect as Driverless Cars Go Mainstream

While the era of driverless vehicles is rapidly approaching, there is still a great deal of confusion and speculation regarding the full impact and the…

Strike the Mother Lode in Data Mining

By Boyd Warner, CEO, AutoAlert, Inc. -- I like bing.com’s definition of mother lode – “a plentiful supply of something.” That’s what data mining technology for your dealership should provide you, a plenty supply of sales opportunities.

Data mining describes methodologies for analyzing data to find valuable nuggets. If you’re going to analyze your customer database, the nuggets you hope to unearth are consumers whose vehicle profiles, equity positions and vehicle histories make them prime prospects for your sales calls.

Yet knowing this rich vein of potential car sales is there and extracting its value are not the same things. As in any endeavor, success is borne of ambition supported by the right tools. In fact, some data-mining ideas available today only identify the data; how to convert it into cash is up to you.

Data mining to increase vehicle and service sales should not only help you find your own  mother lode but give you the tools to extract the gold easily enough that even novice miners will produce great results. Fortunately, these tools exist:

  • A true data mining mentality
  • The right data mining equipment
  • A tested data mining strategy

Data mining’s not for everyone: You can buy all the right equipment and look like a miner or you can roll up your sleeves and be a miner. The latter is work. It’s effort. It’s fruitful. While the data mining technology itself is important, it’s what you’re willing to wrestle from it that matters. Dealers who generate additional car sales month after month using the data mining processes embrace the concept fervently and work the process. Their results are telling, up to 100 or more additional vehicles sold a month.

The right equipment matters: A lot of products today promise “data mining” functionality. That a technology can analyze data isn’t necessarily data mining. The right data mining equipment helps you dissect your database to find the right customers who are interested at the right time to buy from you now. The right data mining equipment is like a treasure map – it tells you where the gold is, but doesn’t help you dig it up and carry it way.

A strategy for success:  Without a strategy for putting data mining to work for you, what it often produces is mere slag. Look carefully at the data your process produces. What does it tell you? Now develop a strategy for putting that data to use. For instance, if the data’s to uncover out-of-warranty owners, what’s the strategy for converting the facts into cash? 

Finally, as you move you’re your data into action, carefully consider using written talk tracks to guide your prospectors carefully through the nugget extraction phase of the process. Consider how this track might be worded so customers called clearly understand the value of your offers. Dealers using scripted calls for data-mining marketing say sticking to a written phone script is the straightest path to customers saying “yes.”

Data mining is a great way to strike your mother lode – a plentiful supply of customers simply waiting for your team to call them. The right data mining strategy equips your team to best present welcome news to your customers to help you carry away this found treasure to the bank.

Boyd Warner is CEO of AutoAlert®, Inc. (www.autoalert.com), the most advanced lead generation solution available on the market today. Contact him at boyd@autoalert.com

 

 

 

 Unlock all of the community & features  Join Now