Groundbreaking Improvement Will Help Dealers Retain Customers Most Likely to Increase Future Profits
MINNEAPOLIS, May 3, 2023 /PRNewswire/ — Outsell, a data and technology company with the automotive industry’s leading Customer Engagement Platform, has added groundbreaking customer value scoring to the insights it provides dealerships.
Outsell’s proven machine-learning models have been pointed at Customer Value for the last year. Using real-time and historic behavior, purchase/service transactions and other unique patterns, Outsell is launching Customer Value scoring that continually listens, predicts and engages customers at scale.
The new Customer Value score predicts the likelihood existing customers will buy or service their vehicle, scoring them across five segments from highest to lowest projected sales and service gross profits over the next three years.
“For the first time in automotive history, dealers have real-time insights about the 20 percent of their customers who account for 65 percent of their gross profits,” said Gary Marcotte, Outsell’s Senior Vice President of Customer Engagement Innovation. “Feedback was so positive that we decided to roll the feature out to all our dealers at zero cost to them.”
The new Customer Value score is integrated throughout the Outsell Platform so it is easy to see and use. Customer Value alerts are now sent automatically to dealers when loyal customers engage via the All-New Scouting Report. The report adds Customer Value to Active In-Market Consumers, Service to Sales Alerts, and In-Equity Sales and Service Opportunities.
The Customer Value scoring is also featured prominently on the Customer Profile and In-Market Profile in Outsell’s convenient Customer Engagement Platform portal. Dealer On-Demand opportunities now include filters to find customers who are high-value, for targeting via email or through BDC lists. These Customer Value filters improve dealers’ ability to distribute special content and offers just for their best customers.
Focusing on value dramatically improves a dealership’s ability to engage strategically with its customer base. A version tested by innovative dealers at this year’s National Automobile Dealers Association (NADA) trade show received overwhelmingly positive feedback.
“Dealers often spend more money trying to ‘win back’ customers who are simply not interested in making another purchase or servicing a vehicle,” said Nicolle Lamb, Outsell’s Vice President of Marketing. “Adding this new level of engagement means dealers know who their highest-value customers are and can focus on strategies to retain them.”
Visit Outsell.com to learn more and schedule a demonstration.
Outsell is a data and technology company whose automotive Customer Engagement Platform listens, predicts and engages with customers at scale, delivering measurable improvements in sales, profitability and customer loyalty. The company is transforming the automotive industry. Outsell’s proprietary technology harnesses millions of records of data daily, creating accurate and powerful consumer profiles that engage customers and prospects exactly where they are in their individual buying process. That’s why Outsell is the trusted platform for more than 1,800 dealers representing all major automotive brands.