Big data has transformed the way car marketing tasks are carried out today. Unfortunately, there are some negative side effects when data isn’t handled correctly. In these situations, the data is known as “bad data.” What can you do to lock down your strategies so your data works for you, not against you?
One of the most common issues in using big data for car marketing is that the data is duplicated. IBM estimates that bad data costs the economy around $3.1 trillion a year. While the dealership’s share of that loss is only a small fraction of the total amount, dealers are getting hit by sending out duplicate mailers to the same person, which is a waste of time, effort and money.
Experian reports that one-third of data used in sales and marketing is not usable. That potentially means that one-third of your marketing spend could be going to waste. Sometimes the mistake is as simple as misspelling a person’s name in one dataset, and correctly in another. Your system isn’t going to catch it and it will perceive it as two separate people who will get the same phone calls, emails, mailers – anything you do to reach out to your target audience.
To put a stop to the inefficiencies, consider upgrading how you manage your data. Customer Relationship Management (CRM) solutions are built to do just that. You can integrate them with the platforms you use for servicing and create a robust directory that will account for duplication. Dealers who have taken this big step into CRM have noticed a decrease in the amount of time staff spend on entering customer data, and that’s just one of many advantages.
There is also automation software to consider. This is a solution that allows you to gather information about your target audience and prospective customers, giving you a clean sight path to their habits and their interests as well as several demographics.
You can utilize automation software to gather emails and create subscriber lists with a great deal of accuracy regarding segmented audiences. One note of caution here is that you need to be wary of buying lists of email addresses. This might provide a source for more nurturing opportunities, but it doesn’t do anything to help you reach your inbound leads goal.
CRM, social media management platforms, automation – they’re all great ways to connect with your audience and keep your data clean. What are you doing to improve your car marketing strategy?