NEWTON, MA – September 15, 2014 – String Automotive, provider of the auto retail industry’s first and only dealership intelligence platform, announced today that the latest release of their Dealer Positioning System™ (DPS) integrates rich demographic and psychographic information drawn from Experian Automotive’s Auto Market DNA℠ database.
“For years, automotive dealers have had insight into what types of vehicles are being sold in their areas and some basic demographic information about the buyers. However, they’ve never been presented with actionable insights regarding the mindset and values of today’s car buying customer,” said John Gray, president of Experian Automotive. “We’ve designed our Auto Market DNA to help fill this void by delivering unique insight into what drives and motivates car shoppers. By teaming with String Automotive, we’re able to provide their customers with a better understanding of their local markets to help them gain a competitive marketing advantage.”
The Dealer Positioning System now empowers dealers to get a full picture of what is happening in their market at a ZIP Code™ level. The platform overlays numerous data sets – including web statistics, demand and registration data – with a dealer’s own sales and inventory data to help dealers make decisions on what areas to target, which models to market and how to spend marketing dollars more effectively.
Dealers will now be able to see the most common profiles of car buyers in each ZIP Code surrounding their dealerships, going beyond demographic data like average income and lifestage to include psychographic information such as advertising receptivity, channel preference and key values. They can also drill down by model to see whether people who purchase a particular vehicle tend to be “Age of Aquarius” boomers or “Urban Edge” singles; what mediums they tend to consume (such as newspaper, television or radio); whether they prefer to be approached via direct mail, email or phone; and what messages resonate most with them.
Auto Market DNA employs a powerful research database that combines Experian’s vehicle registration data with demographic and behavioral consumer data from its ConsumerView℠ platform. This compelling combination enables users to not only better understand which vehicles are being purchased, but also obtain deeper insight into why customers are purchasing them.
“Access to this level of knowledge and insight into car buyers in each local market has never been available to the average dealer,” says Ken Kolodziej, String Automotive’s Co-Founder and CEO. “We’re excited to work with dealers and their advertising agencies as they translate Experian Automotive’s rich data into campaigns and offers that really resonate with individual consumers.”
The Dealer Positioning System helps dealers discover which ZIP Codes near their dealership represent the most opportunity to gain market share or conquest against cross-shopped makes. With the introduction of Experian Automotive data into the application, dealers and their agencies can develop highly tactical plans to attack those ZIP Codes. For example, BMW buyers in one area may prefer newspaper advertising and care deeply about a dealership’s history and reputation for service, while shoppers just a few towns over might favor internet or TV advertising and be more receptive to financing offers and celebrity endorsements.
"In a saturated market where it takes more than a good product to bring consumers into the dealership, combined with strict consumer protection laws in place, there is no room for error in allocating our marketing dollars. The new Experian data gives us measurements of which advertising messages and mediums can be used within a specific market, or even zip code, to harness the attention of potential buyers,” says Ashton Brown, Digital Marketing Director of Heritage Volkswagen of South Atlanta. “It also gives dealers real tangible data to review with their ad agency as to why or why not specific media buys may or may not work. We are no longer in a 'let's hope this works' era of automotive marketing.”
Join String Automotive on Thursday, September 18th 1:00 PM – 2:00 PM EDT for a webinar to learn how Experian compiles demographic and psychographic data to profile car buyers to pinpoint their values, preferences and advertising receptivity. Understand how dealers can use that data to craft highly targeted marketing campaigns that appeal to prospects as individuals.
Ken Kolodziej will be speaking at the 17th Digital Dealer Conference & Exposition, September 24th 8:30 AM – 9:20 AM in Las Vegas. The session, "Be a Data-Driven Dealer" will focus on how to make decisions with your head not your gut, using data as the driving force.
For more information contact:
VP of Marketing