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SalesAlert™ empowers dealers to efficiently track lost sales and enhance their close rates by directing their attention toward leads that are still actively in the market. By leveraging SalesAlert, dealers harness the power of Urban Science’s industry sales data, updated daily, to review defections. These timely insights are instrumental in driving efficiency and profitability across sales and marketing operations, thereby bolstering market share. They help dealers understand when to halt their sales efforts and adapt their follow-up processes accordingly, creating more effective workflows and better experiences for customers – including those who have already defected but have the potential to come back for service or a future purchase.
Furthermore, TrafficView™ utilizes Urban Science’s unrivaled data and proven scientific methodologies to aid dealers in enhancing sales effectiveness. It identifies areas for coaching, mentoring, and incentivizing, by break down defections into lead source, salesperson, models (including down to trim level) and geographies. Ultimately refining the customer experience and informing tailored messaging and inventory strategies.
Survey data also shows that incentives can play a crucial role in consumers’ choice of dealer, with one-third of auto buyers indicating incentives could influence which dealership they purchase from. Notably, over 80% of auto buyers said a $35 incentive would motivate them to test-drive a vehicle or bring their vehicle in for service. With affordability being a top obstacle, these insights signal a significant opportunity for dealers to deliver targeted incentives to motivate action – such as those issued through Urban Science’s AutoHook® solution.
Leading growth-minded dealership leaders – particularly those at the group level – are also leaning on Urban Science’s MarketGrowth™ solution, identifying investment opportunities in any market and providing competitive visibility into the effectiveness of other groups and dealers in that market.
In today’s dynamic automotive retail landscape, leveraging the power of science to position sellers to thrive in the short and long term is more important than ever. For more information about implementing these strategies, feel free to reach out to Eric DeMont at ekdemont@urbanscience.com.
Source: Urban Science Online Auto-Buyer and Dealer Studies, February 2024. These surveys were conducted by The Harris Poll on behalf of Urban Science among 3,005 U.S. adults aged 18+ who currently own or lease or plan to purchase or lease a new or used vehicle in the next 12 months and 250 U.S. OEM automotive dealers, whose titles were Sales Manager, General Manager, or Principal/VP/Owner.
For complete survey methodology, including weighting variables and subgroup sample sizes, please contact Amy Bowering (arbowering@urbanscience.com).