Depending on whom you talk to, customer data platform technology is the next big thing for the auto retail industry.
CDP software grabs customer data from multiple sources and has the capacity to use that combined information to personalize every customer interaction. It has been around for a while but is new to automotive retail, which started dabbling in it only about two years ago, according to John Campos, industry managing director for the automotive industry at Acxiom, a data company focused on customer intelligence.
CDP technology is designed to boost efficiency by collecting information auto dealers typically gather with their customer relationship management platforms and data management systems and bringing those data sets into one location, Campos told me. The goal, he added, is to eliminate duplication so dealers can more efficiently and broadly learn about their customer base and what they are seeking or need. (It is also a timely alternative as Internet browser cookies are phased out.)
There has been some recent activity in the CDP auto dealer technology space, but so far it is more of a trickle than a flood.
In January, Orbee, a CDP provider, and Conversica, a developer of conversational artificial intelligence, teamed up to provide what they say will be a rich CDP service for shoppers. Automotive industry technology company Force Marketing also launched its Audience IQ customer data platform in the same month.
Acxiom also promoted news this month that Group 1 Automotive will be using its technology, with the goal of improving the dealership giant's customer marketing efforts.
Campos and I had a long conversation about the use of CDP in auto retail. You'll be able to read highlights from that conversation in a separate story coming soon.