In a world where competition among businesses is fierce, companies across industries are turning to data to better inform their decision making. Retailers stock products that sell best, restaurants cater to current trends and service providers adjust based on feedback and customer expectations. The automotive industry is no different.
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Cutting Through the Clutter in Automotive Retail Data
Dealerships rely on data to match customers with vehicles, and OEMs rely on it to find competitive price points. However, dealers and auto manufacturers are not the ones sifting through available data or developing the software solutions that guide their critical decisions. They work with technology companies that specialize in ingesting data and developing innovative solutions that help improve efficiencies and performance within their operations.
This is not to say that these technology partners are sifting through all this data either. There are billions of data points associated with automotive retail, and technology companies that work with Market Scan collaborate with our experts to integrate our data into their solutions. Through their work with technology companies powered by Market Scan, automotive retailers and OEMs can not only improve sales and profit, but also enhance customer experience through this vast sea of data.
Finding the Right Data for Automotive Retail Technology
At Market Scan, we are transforming automotive retail by providing technology companies with access to unrivalled data sources and our cloud-based calculation engine that powers more than 12,000 dealer rooftops through our work with client partners. Our expansive, precise data multiplies the value of our client partners’ solutions, ensuring they can offer valuable insights that help guide decisions at the dealership level.
We work directly with our client partners to meet their needs and provide the data that drives their solutions, whether it’s data to inform one aspect of automotive retail (such as incentive data alone) or data to inform a variety of aspects. Our account managers are invested in their clients’ success and are veterans of both the automotive retail and technology industries. They work with client partners that provide dealership management systems, advertising and MarTech solutions, fintech solutions and other software services.
Our ultimate goal is to use our data to ensure technology partners have the information they need to develop the best solutions possible for their dealership customers, giving them a competitive advantage and streamlining the automotive retail process for customers. By pulling from the most timely and accurate dataset, technology partners can build solutions confidently, knowing they’re using comprehensive and precise information. Market Scan data drives more accurate vehicle pricing throughout the entire purchasing process – a win for both dealer and customer – from browsing online to driving off the dealership lot, by accounting for real-time information on incentives and geo-specific data. This ensures that customers get the vehicles and deals they see online.
Shifting Expectations Drive Best Practices
Consumers increasingly expect pricing transparency and consistency throughout the vehicle purchasing process, and the most complete data helps automotive retail technology providers offer this transparency. In a world where it’s easy to order anything and everything online without having to wonder how the final price will differ from the one advertised, consumers are understandably frustrated when the prices they see online for some of the most expensive products they purchase are not the same in-dealership.
Ultimately, technology providers can best serve their dealership customers by creating solutions that allow them to keep their end consumers happy and informed. By using Market Scan’s comprehensive dataset, any dealer tech solution they create will offer consistent insights across all channels.
At Market Scan, we serve the needs of providers at all levels of automotive retail – dealerships, their tech partners and the OEMs that make vehicles and set initial prices. Through our API partners, our technology complements dealers’ existing sales for a modern, seamless retail experience.
Book a demo today to see how Market Scan can help improve your customer experience through transparent, precise pricing.