VinSolutions launched a new equity mining tool for dealers on Tuesday, which aims to capitalize on the growing importance of customer data.

Target, the new tool in the VinConnect customer relationship management (CRM) solution, works to allow dealers to mine their customer databases in an effort to find more sales opportunities and convert them, using targeted, data-driven marketing and sales communications.

"Dealers are missing the opportunity to use the dynamic data that currently lives in their CRM and website systems to more effectively market and sell to shoppers and customers," said James Maynard, vice president of product development for VinSolutions. "This tool provides an easy way for dealers to search and segment their customer data, along with integrated task management and marketing tools, giving them complete control over customer engagement."

Target enables dealers to search through their customer and prospect databases based on factors such as equity, APR, lease terms, payment and remaining terms, and more.

This allows dealers to send more targeted, customized marketing communications to customers who are actually in the market to purchase.

Sean Stapleton, vice president of sales and marketing for VinSolutions, said, "VinConnect CRM fully integrates with a dealer's VinConnect website and marketing modules, which means our system captures and knows more about each customer.

"Using this deep customer insight, dealers can become successful in both finding ready opportunities and creating impactful, targeted marketing campaigns. Now, dealers are able to communicate with the right customer at the right time with the right message via the right channel — the critical key to building lasting customer relationships."