Auto Industry Whitepaper: How US Auto and Finance Companies Can Gain a Strategic Advantage through Integrated Customer Analytics
US auto manufacturers, dealers and finance companies invest an estimated average of $8,000-$9,000 per vehicle on media advertising, rebates and discounted financing to support the sale of each new vehicle. Considering that the average sticker price of a new automobile is $33,500 , the investment in sales support alone accounts for over one-quarter of the potential selling price –not including other sales costs such as dealer margins or sales commissions.
While the auto industry leverages analytics to help improve marketing effectiveness, these efforts are still highly fragmented and largely focused on marketing indicators rather than financial results for stakeholders. An integrated analytics framework can provide automotive manufacturers, dealers and finance companies with significant economic benefits and improve the customer experience by enabling them to target more relevant purchase and incentive offers to each consumer.
Read the whitepaper to learn about the reward for improved integration of customer analytics.