Looking for insights on data mining our customer list for new leads.

[CurryAutoCenter]

We are a Chevrolet, GMC, Buick and Cadillac dealer in Bloomington Indiana. We are interested in using our CRM DealerPeak to data mine our customer base. Looking to get insight on any routines that other dealers have found successful. We are especially interested in ways to predict whether our customer is likely to be in the market soon.
Positive equity, high interest rate etc are ideas we have had. We don't want to blast all of our customers with emails when they are not in the market. Anyway any insight would be greatly appreciated.

 

[john.quinn]

Hello! Kinda tough question to answer and be concise, especially given that I'm not familiar with your CRM.

At a high level, the "Buy Back" campaign is a good place to start. Based on general equity assumptions -- where people are in their purchase or lease term -- you reach out to them and offer to "Buy Back" their unit while getting into a another unit at or around the same payment.

Good use of merge fields and language can give the piece a one-to-one "feel," and people generally respond well. "Mine" by purchase type and term after doing some research into the break-even point on equity positions.

Now, if your system has an equity finder: comparing payoffs to book values, perfect! But I guess you wouldn't be asking the question if it did...

Good luck and good hunting!