5 Reasons your dealership should be using a Customer Experience Data Platform (CDXP)
A customer data platform, commonly referred to as a CDP, provides a comprehensive window into the customer’s behavior and insights through a centralized data platform. It allows you to securely store your collective customer data across different channels, mediums, and touchpoints.
When you layer a marketing engine onto your CDP, you get a customer data and experience platform or a CDXP. CDXPs unify data from every customer touchpoint, providing marketing experts with the toolset to create personalized marketing journeys for customers. Implementing a CDXP will allow dealers to own their first-party data and execute effective marketing strategies.
Moving into the new era of automotive marketing, it is crucial for dealers to adopt CDXP technology. While it consolidates the dealership data, it also creates a smoother shopping experience for potential buyers. Moving your marketing in-house with AI-powered CDXPs is really the best way to join this new era.
Here are the top 5 reasons your dealership should be using a CDXP:
1. Clean data ownership
A CDXP allows you to condense your first-party data into one centralized platform so you can get a 360 view of every shopper in one place. Dealerships will be able to follow a shopper’s journey from ad click all the way down to the sale, making it easier to engage and understand digital buying trends.
2. Breaks down data silos
Data from your CRM, ads, OEM feeds, and website will integrate together so your dealership doesn’t have to operate with siloed data anymore. In addition to dealerships owning their own data, the data will also be connected and systems will communicate to consolidate everything.
3. Hyper-personalized shopping experience
Leveraging the condensed data will provide your shoppers with a personalized experience. The CDXP will determine buyer preferences, tendencies, and interests to create individualized and unique marketing 1:1 journeys. For example, if a shopper visited a specific VDP and then there was a price drop, the CDXP tech can fire off an email to the shopper with the price drop information. This connected experience can only happen when a dealership both owns their data and has the infrastructure to house it and execute it.
A CDXP consolidates several different software, making it cheaper than investing in multiple, disjointed vendors. Additionally, the cost per lead (CPL) is usually cheaper than more traditional, manual marketing strategies. The CDXP works 24/7 to optimize for the most competitive CPL.
5. Optimized testing
Automated CDXP tech will run thousands of tests simultaneously, making it easier to optimize what’s working over what’s not. This technology will always outperform humans since it’s impossible to run this scale of testing manually.
The CDXP platform is the future of marketing in the automotive industry. Leveraging condensed data from various channels, mediums, and touchpoints, the CDXP will allow dealers to create unique marketing journeys and shopping experiences for potential buyers. The era of wasting time and money investing in third-party vendors is over, making way for cost-effective AI-powered CDXPs.