The Importance of First Party Data to Marketing Teams

From the end of the year through 2023, the marketing team will need to work effectively with dealers to keep customers engaged. Digital at Nielsen, Dodge, Chrysler, Jeep, Ram Colin Carrasquillo, his marketing manager, sees his dealership marketing efforts at Inside Automotive today, first party The importance of understanding his data This section explains.

According to Carrasquillo, the marketing team’s ultimate goal remains “to look back in order to move forward,” as inventory continues to grow. Carrasquillo sees this “pendulum swing” as a gradual shift in balance between more car options and more customers.

While planning their marketing strategies for 2023, dealers must excite customers with new inventory and lower costs. According to Carrasquillo, the volume generated by the first party when he interprets the data is significant. The marketing team is investigating “brand loyalty” related to future spending. Therefore, dealers will be more successful in 2023 if they focus more on their current customer database and the brands they buy all the time.

Carrasquillo says that as we get closer to Google Analytics 4, the most important first-party platform going forward, we are “looking to a future without cookies.” He adds that from 2023 onwards, the three D’s (clean data, delivery and analytics) will be the most important tools dealer marketing teams must utilize. It also allows us to better serve our consumers. For example, customers using Google Chrome leave a digital trail so they can easily find click-based content.

Dealers essentially turn into data centers, especially when engaged in an endless loop of customer communication. In 2022, dealers had an opportunity to recoup lost business from customers who switched to other dealers due to inventory shortages, according to CarGurus research. Additionally, JD Power conducted a study predicting his loyalty to his 2022 brand, highlighting that despite inventory issues, customer loyalty remains high.

When OEMs release programs based on first-party data and there are still cars on the market priced above MSRP, communicating with customers can be difficult to navigate. According to Carrasquillo, marketing techniques since 2019 have been “$100 off the invoice price. ” Overall, the marketing team must rely on the consumer experience.