Part III: Gather Data to Dominate

Hopefully you’re already convinced social selling has a lot to offer your dealership.  In fact, dealerships that want to win in today’s marketplace will need to get social—and fast—if they want to keep up with the competition.  In addition to building relationships with consumers and becoming a top-of-mind resource, by amping up your social media presence, your dealership can glean plenty of useful data that will come in handy when it’s time to make a sale.

In Part III of this 3-part series, we’ll take a look at the ways social selling can help you access valuable consumer data you can utilize to help you sell more cars.  And selling more cars is the goal, right?

Consumers share an inordinate amount of information about themselves via social media platforms—whether it’s on their profiles, during interactions with acquaintances and friends, or when they involve their favorite brands in discussions.  And savvy businesses are utilizing the information that’s available to them on social media and putting it to good use as they build relationships with potential customers.  Why?  Because in a sea of competition, you’ll stand out when customers feel like you can offer them a personalized experience.

Defining the Data You Need

Today’s customers want to feel like you know them.  And what better way to get to know them than to form relationships where they interact, shop, and do research?  Social media has become the go-to for a majority of consumers, and that means your dealership needs to be there, too.  Facebook, Twitter, and other popular platforms aren’t just places to go when you’re looking for cute cat pictures or funny baby videos; instead, consumers and businesses alike have found there is valuable information to be found on social platforms that can facilitate both the shopping and selling processes.

Consumer sentiments and preferences abound on social platforms.  When you keep your eyes open and remain aware, you’ll find things like reviews, feedback and comments on product forums, chats, likes, and shares.  All of these things contribute to the big picture of what people are saying about the brands they like and trust—and even the brands they may be frustrated with.

Additionally, when you build relationships with online consumers, you’ll have visibility to data regarding life changes, which can affect how and when vehicles are shopped.  For example, if shoppers post updates about getting married, having a baby, or even having vehicle trouble, your presence in their social circles will give you exclusive insights that will help you provide the right communication at just the right time.

Finally, dealerships are leveraging data-mining intelligence and opportunities like AutoAlert’s Proactive Portfolio Management to help them reveal online trends and consumer behaviors, generate more leads, and increase their bottom lines.  By using every outlet at your disposal, you’ll be able to glean important data that will guide you in providing exactly the experiences your customers are looking for.

Taking the Daunting Out of Data

For many businesses, the idea of tackling consumer data is overwhelming, but when you leverage social media to get a good portion of what you need, it becomes easier.  Social media helps you understand your customers and get to know their needs in the marketplace, but once you’ve collected data, there’s another step you have to take in order to make it matter:

Data + Analysis = Valuable Insights

For the data you collect to be worthwhile and helpful to your dealership, you must not only aggregate it; you must analyze it, too.  This is the part that can seem daunting.  Whether you’re collecting data via social platforms or from other data sources, once it’s organized, you’ll find the most helpful insights come from the information you’ve thoroughly analyzed.

Many dealerships are choosing to power up their CRMs in order to get the most mileage out of their internal data.  Tools like AutoAlert’s ProfileFuze deliver insights letting you know exactly what customers are looking for, what shopping intensity they’re displaying, and even if they have existing social connections within your dealership.  When looking at new technology, stay focused on the number of actionable insights you’ll be offered, as this is the information that will guide your sales professionals toward potential shoppers who are ready to buy.

For external data, establishing a strong social presence is key.  You’ll be surprised at the amount of information you’re able to accumulate simply by interacting, engaging in conversation, and building strong online relationships with consumers.  At the same time you’re able to build recognition for your brand, you’ll be able to gain valuable insights you can put to work in order to help you sell more vehicles.

While it may seem daunting to analyze and calculate the numbers behind consumer behavior, everyone can be active on social media and take note of trends in order to effectively evaluate what shoppers are looking for.  The more attention and focus your dealership dedicates to understanding what shoppers need, the more effectively you’ll be able to create compelling messaging that draws shoppers onto your lot.  By leveraging the power of social media, your dealership can build solid relationships with consumers and gain innumerable insights regarding what they’re looking for in the marketplace.