Dealership intelligence platform provider String Automotive highlighted that the latest enhancement to its dealer positioning system (DPS) now integrates rich demographic and psychographic information drawn from Experian Automotive’s Auto Market DNA database.

String Automotive explained the dealer positioning system now can empower dealers to get a full picture of what is happening in their market at a ZIP code level. The platform can overlay numerous data sets — including Web statistics, demand and registration data — with a dealer’s own sales and inventory data to help dealers make decisions on what areas to target, which models to market and how to spend marketing dollars more effectively.

Furthermore, dealers can see the most common profiles of buyers in each ZIP code surrounding their stores, going beyond demographic data like average income and life stage to include psychographic information such as advertising receptivity, channel preference and key values.

Managers can also drill down by model to see whether people who purchase a particular vehicle tend to be “Age of Aquarius” boomers or “Urban Edge” singles; what mediums they tend to consume (such as newspaper, television or radio); whether they prefer to be approached via direct mail, email or phone; and what messages resonate most with them.

“For years, automotive dealers have had insight into what types of vehicles are being sold in their areas and some basic demographic information about the buyers. However, they’ve never been presented with actionable insights regarding the mindset and values of today’s car buying customer,” said John Gray, president of Experian Automotive.

“We’ve designed our Auto Market DNA to help fill this void by delivering unique insight into what drives and motivates car shoppers. By teaming with String Automotive, we’re able to provide their customers with a better understanding of their local markets to help them gain a competitive marketing advantage,” Gray continued.

Gray pointed out that Auto Market DNA employs a powerful research database that combines Experian’s vehicle registration data with demographic and behavioral consumer data from its ConsumerView platform. This compelling combination can enable users to not only better understand which vehicles are being purchased, but also obtain deeper insight into why customers are purchasing them.

“Access to this level of knowledge and insight into car buyers in each local market has never been available to the average dealer,” said Ken Kolodziej, String Automotive’s founder and chief executive officer.

“We’re excited to work with dealers and their advertising agencies as they translate Experian Automotive’s rich data into campaigns and offers that really resonate with individual consumers,” Kolodziej added.

Kolodziej also mentioned the Dealer Positioning System can help dealers discover which ZIP codes near their dealership represent the most opportunity to gain market share or conquest against cross-shopped makes. With the introduction of Experian Automotive data into the application, dealers and their agencies can develop highly tactical plans to attack those ZIP codes.

For example, BMW buyers in one area may prefer newspaper advertising and care deeply about a dealership’s history and reputation for service, while shoppers just a few towns over might favor Internet or TV advertising and be more receptive to financing offers and celebrity endorsements.

Ashton Brown, digital marketing director of Heritage Volkswagen of South Atlanta described what having that information can do to help a store move more metal.

"In a saturated market where it takes more than a good product to bring consumers into the dealership, combined with strict consumer protection laws in place, there is no room for error in allocating our marketing dollars,” Brown said.

“The new Experian data gives us measurements of which advertising messages and mediums can be used within a specific market, or even ZIP code, to harness the attention of potential buyers,” Brown continued.

“It also gives dealers real tangible data to review with their ad agency as to why or why not specific media buys may or may not work. We are no longer in a 'let's hope this works' era of automotive marketing,” Brown went on to say.

Kolodziej will be speaking at the 17th Digital Dealer Conference & Exposition next Wednesday in Las Vegas. The session that begins at 8:30 a.m. and is titled, “Be a Data-Driven Dealer” will focus on how to make decisions with your head not your gut, using data as the driving force.