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Data privacy has become a topic that many customers are aware of—and concerned with. No one wants to be bombarded with emails, social posts, or other marketing communications that aren’t relevant to them, or show their data was used improperly.
Automotive dealerships aren’t exempt, either. There are many reasons why your store should be transparent with your customers about how you’re using their data. This transparency will allow you to gain more from your first-party data, be smarter about third-party data (and use less of it), build trust, and create informed marketing strategies that lead to more sales and service appointments.
Why Customer Data Privacy Is Crucial for Your Dealership
First-Party Data: Transparency Matters
You already know that first-party data will offer your dealership the best opportunities, but how can you make better use of it (while building customer trust)?
Since your first-party data was collected directly from your customers, it is highly valuable as it is accurate and relevant. Including current contact information, purchase history, website browsing behavior, and social media activity, this data can be used in incredible ways to drive revenue.
However, it’s important to be transparent about how you’re using that customer data. For example, be sure to opt them in for any marketing messaging before sending. Verify their contact info and confirm the customer’s preferred communication channel (phone/voicemail, email, SMS, etc.)—this will help ensure that your messages are being sent and received best.
Third-Party Data: How It Misses the Mark
With high-value first-party data at your disposal for quality data mining opportunities, you may not need to spring for a third-party list. If you still want to widen your net with third-party data, here are some points to consider to help keep your store’s reputation strong and draw the right prospects in.
- It’s often incomplete or incorrect: Some data companies will estimate and fill in missing data, which means you’re paying for guesses
- It’s easily accessible: This means your competitors are able to snag the same prospects you might gain, and spam them with unwanted marketing
- It’s sketchy at best: Can you be sure that your third-party data was collected with consent? If your emails bounce or go to spam folders, this hurts your store’s reputation (and potentially gets you blacklisted!)
If your store uses third-party data, be sure to thoroughly research for a reputable vendor, monitor and aggregate your data to maintain its quality, and use an integrated CRM solution to manage and make more sales.
Turn Customer Data Worries into Data Privacy Wins
While concerns around the compilation and use of data exist, your dealership can use this information to establish your store as a transparent, trusting place for your customers and their data. And with personalized marketing communications and trade-up offers sent via their preferred channels at just the right times, you’ll enjoy happier customers, more revenue, and better business.
If you’re in need of a trusted partner that knows industry trends, contact us today to explore our ownership marketing, equity mining, CRM platform, and other solutions made by dealers, for dealers.
All | September 19, 2023