Outsell Launches Outsell Equity Solution to Help Auto Dealers Identify Buyers Most Likely to Trade In Their Vehicle
Outsell launched our Equity solution today, designed to help auto dealers identify buyers who are most likely to trade in their vehicles for another right now. Outsell Equity includes triggers such as equity status and “similar payment” modeling that accelerate sales retention by engaging past customers at exactly the right time with an individualized message.
How it works:
- Outsell Equity automatically identifies customers and prospects who reach positive equity status, so that the dealer can inform them that they are in a good position to trade their current vehicle and purchase a new vehicle sooner than they normally would.
- Using a new “Similar Payments” feature, Equity can even show customers specific VINs that they can get with similar payments to what they have now.
- Then it automatically picks the best channel to reach them and deploys relevant equity campaigns (Email and/or Direct Mail).
- The software enables dealers to optionally add a custom offer to these campaigns (like all other Outsell automated campaigns).
“Outsell turned what used to be a huge slog of gathering incentives, making creative, and deploying haphazard and dull equity emails to our customers into something elegant and intuitive,” said Chris Basha, marketing & technology director at Carriage Auto Group. “There’s no need for a data scientist or a graphic designer anymore – Outsell turned similar payment upgrades into a piece of cake.”
“Outsell Equity is user friendly. It allows us to quickly send out communications to the right customers and present a strong value proposition. You can be very specific in your targeting or you can have a broader approach. Either way it is simple to execute,” said Kevin O’Neill, Director of Sales, Marketing, and Technology for Classic Kia and Classic Toyota.
“Customer retention is key in this economy, and dealers need to do all they can to entice past customers to become repeat customers,” said Mike Wethington, founder and CEO of Outsell. “Outsell Equity helps by surfacing these likely buyers and teeing them up for a sale with a relevant, customized message. Consolidating your vendor approach with Outsell leads to a superior customer experience because all the sales, service, and equity messaging is coordinated across each individual’s consumer lifecycle.”
“We’ve long said that dealers need to sell smarter, not harder,” he added, “and Outsell Equity is a prime example of how to do that effectively. Our dealers who are already using this solution tell us that it makes an impact quickly.”
Equity is included in Outsell’s comprehensive Enhanced package, which includes everything a dealer needs for automated virtual customer engagement, including AI-driven, omnichannel marketing automation; sales and service conquest capabilities; and in-market buyer detection. Results for Outsell’s packaged solutions are guaranteed, tied to a dealer’s linked sales and Repair Orders (ROs).
A comprehensive, multi-year study conducted by Outsell, RXA, and Experian showed that AI-driven consumer lifecycle marketing leads to:
- 23% increase in repeat sales
- 31% increase in service visits
- $427 increase in individual customer value
To learn more about Outsell Equity, visit https://www.outsell.com/equity/.