Mastermind Launches Expansions

By Staff Writer September 30, 2021

AutomotiveMastermind, a provider of marketing automation solutions for dealerships, has expanded its data-driven platform to help dealers with inventory challenges.

Mastermind's product expansions are in response to shifts in automotive retail that are increasing the pressure on dealers. According to IHS Markit forecasts, inventory constraints are forecasted to extend through at least the third quarter of 2022 – potentially longer – due to the microchip shortage. This will make it harder for dealers to restock new car inventory and attract new customers.

Other IHS Markit data shows that brand loyalty among U.S. consumers looking for new vehicles dropped to a six-year low in June 2021, following steady declines in April and May.

Mastermind's proprietary algorithm powers predictive marketing campaigns that combat these issues by helping dealers stay in communication with loyal customers and prospects (regardless of their current inventory level) and acquire preferred pre-owned inventory from untapped sources in their market.

Mastermind's new campaigns encourage dealers to think strategically and creatively to foster ongoing engagement with individuals by:  

  • Acquiring in-demand pre-owned vehicles by leveraging Polk Audiences by IHS Markit to help identify consumers within their loyalty and conquest portfolios who are most likely to sell their vehicles.
  • Proactively engaging and retaining customers through pre-orders.
  • Maximizing the service drive by identifying service-to-sales opportunities and driving incremental service revenue.

Additionally, the platform enhancements enable dealers to send predictive marketing campaigns with personalized messaging and compelling offers for customers to sell their vehicles, allowing dealers to bypass competitive and costly auctions while maintaining a rotating inventory.

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Last modified on Thursday, 07 October 2021 15:27