The next frontier for the most progressive dealers and dealer groups is using their CDP to identify the most valuable customers and delivering customer relevant, personalized communication. Informed by its extensive 2021 study showing that 20% of dealer customers represent over 65% of dealer gross profit, Outsell is launching four new Machine Learning models focused exclusively on those special dealer customers and prospects likely to represent the most sales and service gross profit over the next three years.
A 2022 Outsell study of 1,200 customers found that loyalty to dealers and dealer groups is not a function of “love” or “free stuff” rather it is based on providing timely and relevant information that creates genuine trust. Dealers spend entirely too much money dumping coupons and offers on customers who are essentially lost and for whom no trust has been built. The study also found that 1) great communication can overcome a process failure, and 2) too much irrelevant communication can lead to defection.
By incorporating its proprietary Customer Value models into its Customer Data and Engagement Platform (CDEP), Outsell enables dealers and dealer groups to differentiate communication cadence, channels, offers and content based on the projected value of the customer and prospect, not over the next 25 years, but over the next three, when it really matters. Further, Outsell’s new Customer Database Health report showcases high value segment size and growth, gross profit contribution and, importantly, changes in the behavior of these special segments.
The first 100 dealers or dealer groups that sign up for Outsell at NADA will get all of this for no additional cost:
- Customer Value Scores on the Profile page for dealers to enable personalized treatment in store
- Store Engagement Alerts when high value customers engage with content or are scheduled for service
- Scoring in delivery models that puts High Value customers at the top of the list for communications, including Direct Mail when they cannot be reached on other channels.
- Individualized message content tailored for High Value Customers
- Dynamic offer selections to personalize offers for High Value Customers within existing content
- New Dealer Group content designed to retain high value brand switchers
The goal of CDP’s is not just to build them, rather to use them effectively throughout the dealership to transform engagement and retention. Adding Outsell’s High Customer Value is one important dimension that turns data into real action that makes an impact. To see the High Customer Value for yourself, schedule a demo at our booth at NADA here!