Race to the Finish: Winning in Automotive With Behavioral Data

By |January 10th, 2019|

Newly available behavioral data is opening up an unprecedented world of possibilities for truly effective 1:1 marketing in automotive. For years, the industry has relied on demographic and identity data to try to figure out who might be in market for a vehicle, but adding in behavioral data on top of identity and demographic data provides a three-dimensional view of your prospect.

Imagine knowing that I’m the right age and income to buy your vehicle, and imagine you have specific data that indicates my online behavior shows I’ll be buying a car in the next 24 hours. What could you do with that data to drive a better, more fruitful engagement with me?

Connect to the Customer Journey

Buying a car is a high-research process, with the majority of activity taking place outside of the OEM or dealer site. According to a 2016 study by Google, there are on average 24 touchpoints for car shoppers prior to making the purchase, 19 of which are online. Almost 90% start their research online, and overall, 60% of their time in the considered purchase journey for a car is spent online. This entire process takes, on average, 16 to 17 weeks. During that time your prospects are leaving behavioral indicators all over the web about their true intentions. What if you had real-time insight into what they were planning to do?

Most OEMs and dealers are searching for new data sources that can give them a competitive edge. Staying competitive requires proactive engagement with potential customers at the right time with the right message. Behavioral data is helping OEMs and dealers make real-time decisions about the buying intent of consumers who either submit leads or visit their stores. In short, actionable data about your customers’ shopping journeys is crucial so you can find and appropriately engage with shoppers who are ready to buy.

Behavior Signals Intent

The right data can drive marketing engagement that helps you acquire, grow, and retain your customer base. Identity and demographic data is certainly important, but think about this: What is a better indicator of intent than the way someone actually behaves? OEMs and dealers are inundated with leads on a daily basis—using tools available today that allow them to know in real-time the likelihood and timeframe of purchase for those leads can create substantial increases in conversions and decreases in overall costs.

Jornaya has a first-hand view of 200+ million major-life purchase decisions every month. We help you know when your prospects are intending to buy and we help you know when your current customers are shopping for their next cars. Contact me today to learn more. I’ll also be at the NADA Show in San Francisco, January 25-27.

Brian Epro is Vice President, Automotive at Jornaya.

This piece was also posted on LinkedIn. Share it on your network and connect with Brian to see what Jornaya can do for you in automotive.

 

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