DATA is knowledge and knowledge is power.
It’s an extension of a well-known phrase and if dealers can grasp its meaning, they will certainly reap the rewards.
Sales teams will be able to establish a good-natured rapport with their customers in a very short time and ultimately sell more cars.
It’s a principle that’s been developed by the team at iVendi, the online vehicle marketing experts, who will be present at next week’s Car Dealer Conference giving delegates the benefit of their advice.
Chief executive James Tew will be among the keynote speakers at our special Future Leaders session during the event.
Providing us with a sneak preview of his presentation, he said he would be focusing on the future of vehicle retailing and the way that much of the sales process is moving away from the showroom and onto the internet.
With car buyers paying far fewer visits to traditional showrooms these days, dealers have a limited time to form relationships with customers.
However, armed with some accurate and relevant information about their prospects beforehand, they can make a brief chat of maybe just a couple of minutes really count.
Tew told us: ‘These days, there’s less and less engagement with the consumer in the showroom but we are gathering data all the time on them.
‘When a dealer engages with a consumer, there may well be a small window of opportunity to build rapport quickly.
‘Data can be used to accelerate the sale or capture the sale.
‘Going in blind is not ideal. It helps if you have some information about the customer beforehand.
‘We will show some practical examples of data that we collate on individuals. Information about their credit history, interests and hobbies is all available as a snapshot. It’s all about the profiling of individuals and we are doing some exciting work in this area.’
Part of Tew’s presentation will involve a practical walk-through that dealers will find fascinating.
He joins five other speakers at the conference, from organisations such as Lawgistics, Sun Motors and CAP.
And as well as the speakers, there are plenty of other reasons why dealers should come along.