BlogProAutomotive has a post about the recent rise in behavioral targeting in online advertising and notes that only two companies provide this service within the Auto Industry. Behavioral targeting is interesting because it uses information about a consumer’s behavior on one, or several, web site(s) to glean what types of ads might interest the consumer. Sounds scary to some, but it should make advertisements more relevant.
Behavioral targeting can draw upon a few simple algorithms such as collaborative filtering, regression analysis, or even Bayesian Inference. Without going into too detail, it’s important to note that you can actually do a lot of this work at your existing dealership now. Think of it as behavioral targeting for your sales people. Right now you may use a few simple rules to assign leads to sales people. For example, if you have Spanish-speaking customers, you have them work with a sales person who speaks Spanish. This is a simple rule for behavioral targeting.
What you may not already do is look at all of the data points you have on a customer:
- Credit score (as a range)
- Lead source
- Address (zip code)
- Preferred language
- Price range on desired car
- Paying cash, financing or leasing
- And whatever else might be learned during a needs discovery call
A sales manager could track these data points in a CRM and then look at sales success rates of sales people. Using one of the above mentioned methods the manager could draw conclusions about what sales person will perform best with a given customer. The next time a lead comes in from the net, assign the lead to the best performer with that type of lead. If you are optimizing your Internet advertising, it makes sense to optimize your sales people, too.