Decisions derived from data are usually more accurate, fairer and result in better outcomes – for both you and your customers. Discover how Experian’s rich data sets and tools can link in with your own records to transform all aspects of your business.
If you’re looking to expand your dealerships, location is key – and with accurate data-driven insights you’ll be able to pick the perfect site for your new premises.
Identifying potential demand is the first step to finding a new business location. Valuable insights can be found within Experian’s portfolio of local area demographics and consumer behaviour datasets – use a tool like Location Analyst to identify the potential of local markets and gain a visual overview through high-quality maps, graphs and reports.
A good benchmarking tool, such as that offered by Location Analyst, can help you rank the size and value of local markets in relation to each other. You can even use the location of your current dealerships – along with those of your competitors – to help determine an outlet’s potential for sales.
If you know your customers’ behaviour and needs, you can factor that into your location planning. Tools like Location Analyst give you access to demographic, lifestyle and behavioural data that can be used to identify where new customers may be found, helping steer you towards the best locations.
The more detailed a picture you build of your customers – both existing ones and prospects – the better you can tailor your communications, plus find the most effective channels to reach them on.
Your existing customer database contains the keys to finding new customers. What you need to do is feed in that data to a trusted consumer classification system, such as Experian’s Mosaic segmentation tool, and you’ll be able to combine your own records with third-party datasets to widen your understanding of your existing customers, plus discover new ones too.
When you enrich your data, you create detailed, accurate pictures of both customers and prospects. You can then use this to create powerful, personalised campaigns whose messages will resonate with your prospects. A tool like Experian’s ConsumerView gives you access to the rich data and insights you need to be able to deliver those targeted messages.
Customers prefer to be communicated in different ways – your own customers may have already made this clear by setting up their own marketing preferences, but how do you discover the best ways to communicate with prospects? A tool like Experian’s Audience Engine doesn’t just help you create targeted campaigns, it ensures the right campaign is delivered through the right channel to each prospect, even when you connect through multiple publishers.
Discover how big data can help reduce friction at all stages of the buying process, from helping customers find pre-qualified offers to ensuring every purchase is completed quickly and easily.
Whether you’re buying new stock or discussing a part-exchange with a customer’s current vehicle, it’s important to perform robust checks to confirm the vehicle’s provenance. An automated solution like Experian’s AutoCheck can confirm ownership, flag up any potential problems such as whether the vehicle has been stolen or written off, and provide you with an accurate valuation – all within seconds.
Whether looking to set up a simple test drive or offering a finance deal to complete a purchase, you’ll need to verify your customer’s identity and check various documents. Automated online checks remove barriers and simplify the customer journey, whether in person or online. A service like Experian’s ID solutions offers email address verification, plus online document and biometric ID checks.
If your customers are looking to purchase a new or used car on credit, help them get an idea of what they might be able to afford by running a soft credit check using a tool like Experian’s Eligibility Hub. This tool, which can be embedded into your own mobile app or website for a seamless experience, can then show them a range of vehicles within their likely budget – all without demanding a full credit check.
When it comes to completing a purchase on credit you need to perform several checks, not simply to meet regulatory requirements but also to protect your business. Experian offers all the tools you need to complete these checks: CrossCore to check for possible fraudulent applications, Identity IQ for confirming identity, and Bank Account Verification to confirm ownership of a bank account. All of these checks are designed to be thorough and fast, to provide you with a confident decision that won’t hold up the deal.
It’s important you keep your customer records up to date and accurate. Experian’s solutions can help automate the process to make better use of available resources to ensure communications are relevant and compliant.
Your customer’s contact and vehicular details must be kept up to date, but rather than rely on the customer to keep you informed, employing third-party data sources allows you to straighten up your data automatically. Data quality tools like those offered by Experian can compare records against continuously updated movers and suppressions databases to ensure you have the details you need.
It helps to know a little more about your customers so you’re able to tailor your communications effectively – when cleansing data, tools like Experian’s can optionally enrich your customer information with all kinds of useful information to help you form a more complete picture.
Regulations demand that your data is accurate and up to date. By regularly checking vehicle information, including current valuations, against reputable sources such as those offered by Experian, you ensure your data passes muster – with the added bonus of improving performance too. Save time by looking into bulk auditing solutions such as Vehicle Stock Monitor and Vehicle Value Audit.
Vehicle prices are constantly in flux, and if you want to remain competitive while ensuring you don’t miss out on any potential profit it’s important to regularly update the valuations of your entire stock. There’s no need to do this by hand: Experian’s AutoCheck tool checks with three industry-leading valuation providers to give you accurate pricing updated on a daily basis.