Eight Times More Likely to Buy: The Hidden Power of First-Party Customer Data

Chase Abbott explores the surprising disconnect between dealer awareness and implementation of consumer behavior insights, revealing how quality, first-party data can transform customer experiences and increase sales.• Over 90% of dealers know about customer behavior insights, yet fewer than 20% actually use them• Outdated or inaccurate data creates poor customer experiences and missed sales opportunities• First-party data from Cox Automotive's platforms (AutoTrader, KelleyBlueBook, Dealer.com) provides more timely, accurate insights• DealPulse and DealCentral offer comprehensive financial ranges from customers' online journeys• Effective dealerships balance AI-powered insights with human expertise to create relevant communications• Tools like predictive AI can identify shoppers 8x more likely to buy• Dealers should question their vendor stack about data quality, timeliness, and results• With increasing competition and evolving customer preferences, technological adaptation is essentialDriving Solutions is the go-to podcast for dealership professionals who want to stay sharp, informed, and ahead of the curve. Hosted by Jim Fitzpatrick and powered by CBT News, each episode brings you real strategies, smart tools, and expert insights to help you run a more profitable operation.Subscribe on your favorite podcast platform and visit CBTNews.com for more.