Driven Data Releases New Marketing Platform to Lower Auto Dealership Advertising Costs
According to the 2019 NADA Midyear Report, the automotive industry spends an average of $628 per new vehicle sold. Driven Data is the first automotive solution to connect dealerships' first party data from their CRM and DMS into both paid search and paid social automatically to reduce advertising costs.
INDIANAPOLIS, Oct. 24, 2019 /PRNewswire-PRWeb/ -- Driven Data, an Indianapolis-based technology company, announces the launch of its next generation marketing platform for the automotive industry. Driven Data is the first automotive solution to connect dealerships' first party data from their CRM and DMS into both paid search and paid social automatically. This enables dealerships to drive loyalty by reaching their prior customers while suppressing recent for new customer acquisition.
"According to the 2019 NADA Midyear Report, the automotive industry spends an average of $628 to sell each new car, an all-time high," said Jon Berna, Founder and CEO of Driven Data. "With costs rising across the board, dealers need a more robust solution to this problem. Driven Data was purpose-built to provide just that. Dealerships generally see that 17% of their sales in a given month come from prior customers. This new capability can grow that number substantially while saving time and money."
Driven Data is the first in the automotive industry to leverage the power of 'Prescriptive Marketing', which allows dealers to unlock the power of their existing operational data to inform marketing decisions. This powers advanced features such as Driven Data's budget optimization engine, which optimizes daily spending based on a predictive algorithm that determines how fast cars will sell at various budget levels, allowing dealers to optimize inventory turn at the lowest ad spend.
"Driven-Data's Analytics Platform is, quite simply, the best on the market," said Alex Motevosian of Kirin Automotive. Their diagnostic engine allows you to see operational efficiency and inefficiency at the speed of retail, thus empowering dealers to make decisions in real-time, and with an impact in days—not months." Motevosian also praised the platform's ability to automatically generate dynamic, custom audiences in Facebook and Google Ads based on dealer data. "Their universal architecture and data standardization methods allow them to do something that no one else is doing: drop first-party, dynamic custom audiences into Facebook and Ads - automatically. Yes, that last sentence is correct. As a marketing professional, if that doesn't get you excited...you are in the wrong business"
"If you had 200k total customers in your CRM and DMS it would cost around $250,000 to reach each customer once with direct mail," said Berna. With Driven Data it would cost less than $1,750 in modern mediums like Google Ads and Facebook. The majority of companies providing digital marketing services for dealerships today still do it manually. Driven Data connects inventory, operational metrics, incentive data and customer data into one marketing and analytics platform. Providing marketing that is connected, optimized and personalized."
Driven Data takes dealership data and implements advanced machine learning to generate custom 1st party audiences based on customers who are predicted to be in the market for a new car, shopping for a used car, or may need service soon. Using a proprietary ad platform, Driven Data collects a dealership's data and their marketing collateral to enable a dealership to automatically develop and publish specific, customized ads on Facebook, Instagram, Google, and additional platforms in the future.
According to Ryan Moore, Chief Technology Officer at Driven Data, this results in more engaging ads that will reach customers where they already are. "Driven Data's foundation is the most comprehensive reporting platform in the industry. We integrate with all core dealership systems and leverage these insights directly into the marketing, which has never been done to this extent. This allows for true ad personalization in the customer's journey to a purchase or service visit."
"Driven Data allows dealers to take an in-depth dive into their data that their CRM and DMS do not have the ability to provide," said Kenon Johnson of Stanley Automotive Group. "They are knowledgeable and have tapped into data to provide insights that have not been readily available. The team at Driven Data are truly professionals that understand the importance of what dealers need to evaluate all aspects of their business."
Includes advanced features that no other marketing solution offers, such as:
Data & Insights
Access advanced reporting on all the most important metrics for each department for a truly connected strategy.
Prescriptive Social & Search Marketing
Optimize each campaign to increase engagement and conversion at every stage by leveraging operational and customer data from your CRM, DMS, and Inventory.
Digital Asset Management
Host your images and videos with us to dynamically connect them to your marketing.
Universal Benchmarks
See how your performance stacks up against the best dealerships on each metric.
Dynamic Reconditioning Information
Showcase internal maintenance items like tires, brakes, and alignments with their values directly inside ads.
Maintenance-free Landing Pages
Provide the best customer experience with flexible rules to ensure accurate payments and vehicle information.
Forecasting
Accurately predict sales six months in the future using a blend of variables including seasonality, weighted trends, digital behaviors, and others.
Budget Optimization Engine
Optimize your ad spend based on all dealership data in our system and we predict how long each vehicle will take to sell.
Diagnostics Engine
Resolve concerns and get your process back on track by monitoring everything from Web, CRM, Inventory, DMS, and paid search.
Incentives & Rebates
Leverage lease and loan payments on every vehicle in ads automatically.
About Driven Data
Driven Data is the first insight-driven solution built specifically for the automotive industry. Driven Data delivers comprehensive operational, inventory, and customer insights to optimize dealership marketing with highly personalized ads and unparalleled analytics. By identifying the right audiences based on a dealership's inventory goals and customer data, Driven Data helps dealerships sell and service more cars at a lower cost.
To learn more about Driven Data, please visit https://www.driven-data.com/ or call 888-659-5488
SOURCE Driven Data
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