We’ve said it before and we’ll say it again: data is the future of automotive.
Data silos are a well known challenge in automotive that prevent dealers from creating an effective data strategy. Dealerships work with any number of disconnected platforms that do not communicate with one another creating disjointed data which prevents the dealer from seeing the full picture. Creating a data strategy breaks down these silos to create one source of truth to engage and orchestrate a dealership’s first-party data.
The introduction of Customer Data and Experience Platforms (CDXP) has proven to be a game changer for innovative dealerships actively looking to harness their data and succeed in the future. With the power of a CDXP in hand, dealers can finally eliminate their data silos to clean, normalize, and store their first-party customer and vehicle data to orchestrate effective customer experiences.
CDXPs: Revolutionizing Automotive Advertising
The rise of CDXPs will completely upend traditional dealership marketing practices.
Following the elimination of dealership data silos, the CDXP works to dedupe leads and create a full picture of the customer journey. This allows dealers to build effective personalized marketing campaigns that target leads based on their previous shopping behavior.
The reality is that the modern shopper craves personalization. They want to be engaged with retailers in a conversation, rather than an obvious advertising campaign. The CDXP provides dealers with the tools and technology they need so dealers can compete on the level of global corporate giants by speaking directly to the needs of their leads with content designed to directly engage their interests.
With the power of the CDXP on their side, dealers are being empowered to hold vendors accountable and demanding more clarity on where their money is being spent and what it is buying them. CDXPs are raising the bar for what is to be considered marketing success in automotive and will continue to do so as dealerships harness their first-party data and move into the future.
CDXPs & the Automotive Industry in 2023 and Beyond
2022 saw the introduction of the CDXP and dealers being handed the keys to their first-party data. It can truly only go up from here.
In our estimation, the CDXP will continue to flourish in 2023. The power of the CDXP and its positive impact on dealership revenues is already making waves and has become a hot topic among the influential personalities in the automotive industry.
Between the impending elimination of third-party cookies and the shifting economic winds, forward thinking dealers will be looking to future-proof their dealerships and bolster their businesses. Integrating a CDXP is the obvious solution for one simple reason: the CDXP gives dealers ownership over their data and gives them the tools they need to analyze and dissect it to make strong, data driven decisions to build better business.
Data orchestration will soon become an automotive superpower. Dealers who adapt and develop an effective data strategy will succeed – and those who don’t, simply won’t.
Fullpath: The Best CDXP Solution for Your Dealership
Fullpath’s groundbreaking automotive CDXP has transformed the way dealerships orchestrate their data and do their marketing. Our CDXP allows dealers to leverage their first-party data to create marketing campaigns that sell more cars at lower cost. By connecting dealership data sources, the Fullpath CDXP allows dealers to execute 1:1 hyper-personalized omni-channel shopper experiences to drive sales and increase revenue.
The numbers speak for themselves. On average, dealerships using Fullpath’s CDXP over the last year saw:
- A 50% increase in incoming qualified leads
- Over 2,000 leads deduped to create clear customer journeys and improved marketing efforts
- A $17 gross profit on every dollar spent on Fullpath
- Over 1,300 CRM leads identified based on shopper activities
If you are ready to see how Fullpath’s CDXP can help drive your dealership into the future with AI-powered marketing and data orchestration, reach out to us at email@example.com.
Click here to download our whitepaper, “Data Connectivity and Orchestration for Automotive Dealerships.”
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