In today's highly competitive automotive industry, successful dealerships should leverage real-time data more than ever to make critical marketing and operational decisions. On the marketing side, real-time data can help dealerships better understand, attract and retain their current and potential customers. Operationally, leveraging real-time data can help dealerships better match their inventory mix to the everyday nuances of their market.
First, what is “real-time” data?
Real-time data includes any current information a dealer can collect, process, or deploy to make immediate, well-informed business decisions.
The reliance on real-time data has been partly enabled by one of the most significant shifts in consumer behavior in recent years—the increase in online shopping. The global pandemic pushed more consumer activity online, and the auto industry was no exception.
Nearly every auto shopping journey begins online, with each customer leaving behind a digital trail of information. One example of using this data in real-time is what transpires after a customer searches for a particular vehicle. They are immediately re-targeted with ads for that same type of vehicle wherever they go online, including social media. This scenario is a simple example of turning real-time search information into a dealership marketing opportunity.
AutoStream Integrates Inventory with In-Market Shoppers
ZeroSum has a database of more than 5.6 million in-market shoppers and can provide dealers with access to real-time consumer demand. AutoStream is an excellent example of how ZeroSum assists dealers with leveraging real-time data to improve overall marketing efficiency and sales results. The all-in-one platform is built for car dealers and automotive marketers to help them show the right vehicle to the right shopper by serving high-quality over-the-top and connected TV video.
AutoStream Integrates dealers’ live inventory to create, target, and deliver VIN-specific ads that seamlessly target
Market AI Platform Informs Critical Inventory Decisions
Another excellent example of ZeroSum’s use of real-time data is our inventory monitoring. We combine disparate sets of inventory data into one easily accessible dashboard that everyone at the dealership can use.
This tool allows dealers to monitor overall turn rate and more granular details such as turn rate by model, trim level, or even color. This helps dealers see which vehicles are flying off the lot (or not) and optimize their inventory mix.
Using real-time data in this manner takes the guesswork out of the inventory planning process and gives dealers insights they likely never would have discovered on their own.
Real-Time Data Will Grow in Importance
Technology continues to expand and provide more touch points for customers on an in-market shopping journey. The recent launch of the social network Threads is a perfect example. It reached more than 100 million sign-ups in less than two weeks. Online and social media will continue to evolve, but there is no question that there will be more points for dealers to find and utilize real-time data moving forward.
The ability to match current inventory to in-market shoppers using real-time data will continue to be a key differentiator in dealer success moving forward. ZeroSum is already an industry leader in making this a reality for our dealer clients. As the online and social world continues to evolve, we will too.