NEWTON, MA – October 5, 2015 – String Automotive, provider of the auto retail industry’s first and only dealership intelligence platform, announced today new customer agreements with top dealer groups nationwide. In addition the latest release of the Dealer Positioning System TM (DPS) now provides a local market area view to enable laser-focused marketing. In September, String Automotive reports 206% growth from the same time period last year, in subscription sales of the dealership intelligence platform. The growth is attributed to success with mid-major level dealer groups concentrating on market share driven media campaigns.
“With the narrowing margins on new car deals, I began placing a great deal of importance on ensuring that our advertising spend was operationally minded. At first, the only place we considered data to be relevant was through the reports that we received from e-commerce departments and digital marketing vendors. With the addition of String’s dealership intelligence platform, we are able review our entire strategy from a data-driven perspective,” said Dave Jachter, President, BL&DJ Enterprises; Dealer Principal of Wilsonville Toyota/Wilsonville Subaru. “I’ll admit it: I was a skeptic at first, but our team would not miss a chance to meet with the String team today. We grow our competitive advantage each time we get into the platform with (our analyst) Brook.”
“Though our team had great respect for our vendors, we began placing a great deal of importance on believing only our own metrics for success. At first, the only place we could find ROI-related metrics was through the reports that we received from our digital marketing vendors. After installing the DPS, we are able calculate our wins and loss across our entire advertising budget, customizing the plan based on each store’s best opportunity for growth,” said Kelly Deets, Digital Marketing Director of Your Auto Giant of Newport Richey, Florida.
The DPS application now imports all vehicle registration data supplied by Experian, allowing for better integration with existing demographic data dealers are utilizing from the platform. Experian has proven the fastest time to market with incredibly high accuracy of data. This provides increased insights to dealers with richer data, such as detail views on car sales by zip code. Dealers can create specific action plans by zip code to ensure targeted spending of their advertising budget.
The newest enhancements to the DPS deliver a designated market area (DMA) view to enable enhancements to traditional budgets and lays the foundation to grow market share with both the Tier 3 and Tier 2 budgets. This added view is in response to a need for higher level of metrics, from in-house ad agencies, dealer groups and regional associations. Dealers can now stay on point with a clear sense of direction to increase their return on investment by spending their marketing dollars most effectively.
Based on recent presentations to 20 groups and referrals from industry thought leaders like David Kain, String announced new enterprise level relationships with the March Hodge Automotive Group, Feldman Automotive, and All Star Automotive Group. Two of the three groups are building their 2016 strategy with their in-house advertising agency. The remaining group has partnered with a String Certified Agency Partner.
“With the ever growing technology and digital marketing offerings in the vendor space, Automotive Marketers have never been under more pressure to understand 'What’s working and what’s not.' Our growth speaks to the fact that we answer that question for marketing director and vp of operations roles within the mid-major and regional automotive groups,” says Ken Kolodziej, String Automotive’s Founder and CEO. “With monthly budgets north of $100K, the return associated with hyper focused, market share driven advertising is too substantial for them to ignore.”
Ken Kolodziej and Matt Kolodziej will be speaking at the 19th Digital Dealer Conference & Exposition, October 6th 1:30 PM – 2:20 PM in Las Vegas. The session, "All Buyers are Not Created Equal: Track, Target and Convert Your Highest Value Prospects" will focus on the new success metric to evaluate the effectiveness of your advertising spend. Visit String Automotive at booth # 1123 for a demo and to learn more about the DPS.
String Automotive’s patent-pending Dealer Positioning System helps auto dealers navigate today’s dynamic market with the only vertically-integrated dealership intelligence solution available. The DPS combines multiple sources of data from inside and outside the dealership to provide a rich, actionable view of local markets and an objective view of what – and who – is working for each dealership. But the DPS goes beyond just identifying current wins and potential issues, providing a visual view of data that saves time, shapes strategy and makes money for dealers.
Founded in 2005 and based in Newton, MA, String Automotive delivers transparency, insights and innovation to forward-thinking dealers. String’s dealership intelligence platform, the Dealer Positioning System (or DPS), takes the pulse of each dealership’s local market and guides dealers to make the most profitable, proactive decisions for every store and unique situation. When used in concert with vendors and agency partners, this powerful analytics solution simplifies choices like how to spend marketing dollars, what inventory to stock and where to conquest by letting a dealer’s data drive decisions.
For more information or to request a demo, please visit us at www.stringautomotive.com.
For more information contact:
COO, SVP, Customer Success