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    • Easycare: The importance of benchmarking your reinsurance performance
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Evolving identity beyond the “who” to enable the “how”

Sponsored Content From Experian
This content was paid for by an advertiser and produced by the Automotive News Content Studio.
August 15, 2022 08:00 AM
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    EXP-Identity-AutomotiveNews_1200x1200_01

    News coverage continues to focus on the dramatic changes that have buffeted the automotive industry over the past few years. Inventory shortages, supply chain fragility and technology disruptions ranging from increasing electrification to the digitization of the retail experience are combining to substantially reshape consumer expectations.

    In the face of these changes, one ongoing priority has become even more crucial for manufacturers (OEMs), dealers and other industry players: the need to establish solid, long term relationships with consumers that build trust. This generates increased brand loyalty to OEMs and dealers and delivers benefits to both the consumer and the business alike.

    Establishing such relationships requires consistent delivery of all the hallmarks of superior customer service, from friendliness and respect to accessibility and transparency. Maintaining them requires accurate data. And that involves access to the kind of detailed identity intelligence provided by resources such as Experian Identity — an integrated suite of identity solutions, products and services that employs the company’s sophisticated information technology systems and vast accumulation of consumer data to enable businesses throughout the automotive industry (as well as businesses in a variety of other fields) to engage with consumers on a more perceptive, personalized basis.

    The importance of “Who”

    For years, identity was built on the concept of “who.” “Who” is in-market for a new vehicle? “Who” is ready for their next service appointment? “Who” is actually buying the car?

    The “who” is foundational to an OEM, dealer or lender’s relationship with consumers. It is extraordinarily valuable — and has only become more essential as the industry continues its swift transition toward digitalization. Such information helps to ensure smooth and efficient interactions between an automotive business and its customers. It enables companies to safeguard consumers’ identity, protect their privacy and diminish the risk of fraud. It allows manufacturers and dealers to keep track of current vehicle ownership, a crucial attribute when there's a need to notify owners about a product recall, among other benefits.

    By providing a solid understanding of each person’s distinct interests and concerns, identity data helps dealers build positive relationships with consumers on a long-term basis. Basic identity intelligence tells you who the customer is, where they live and what they are driving.

    Evolving to the “How”

    But sophisticated identity resources, such as Experian Identity, can also help you take your customer relationship a step further; it can tell you “how” to best engage current and prospective vehicle shoppers. This includes vital information on such things as their behavioral data, communication preferences, credit history, household attributes and other details that can enable communications strategies that will resonate with their unique world view.

    For example: while some consumers prefer email or direct mail communications, some prefer to be reached via text or even social media. Identity intelligence can shed light on what messages, media and timing will likely be most persuasive with a given consumer. Approaches such as a focus on local community ties, luxury status or celebrity endorsements are just some of the many communications strategies that are best informed by secure and private consumer preference profiling.

    Every successful dealer understands the value of communicating with consumers regularly and effectively. A never-ending priority is helping persuade an automotive buyer to rely on the dealership for ongoing service requirements. Another is connecting with past customers whose lease agreement or loan is ending soon, or who have positive equity. One clear advantage of identity-related information comes in alerting dealers who else in the marketplace match these criteria to equip them to pursue these new prospects, along with the best communication channels and messages to reach them.

    Manufacturers, dealers and others throughout the automotive industry need to respond to identity challenges and opportunities with interconnected technologies, products and services that can help provide an optimal experience for their customers. Experian’s long history in managing comprehensive data has enabled the company to devise technology solutions that work across every aspect of identity, from decisioning and fraud prevention to marketing, advertising and customer relations — all while ensuring strict regulatory compliance. Experian Identity is further evidence of the company’s ongoing commitment to helping automotive clients not only identify the “who” but help them understand “how” to best reach consumers.

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        • Ally All Ears Podcast | building customer loyalty during challenging times
        • Ally All Ears Podcast | reducing friction in the purchase process
        • Ally: All Ears Podcast | Building trust to attract and retain customers
        • Ally: All Ears Podcast | Staying competitive with vehicle acquisition
        • Ally: All Ears Podcast | Used Car Bubble
        • Ally: All Ears Podcast | practices you may incorporate into your F&I department
        • Amazon Ads: Marketing tips for electric cars and alternative-fuel auto advertisers
        • Big Ass Fans: Reducing risk and productivity loss with Big Ass Fans & evaporative coolers
        • CDK Global: Shoppers make clear the service features they want
        • Capgemini: Unlocking the next turn in the mobility roadmap
        • Champ: The history of titling and the cost of human error
        • Cox: Automation and the future of automotive retail
        • Cox: Transformation toward eCommerce in automotive retailing
        • Cox: Transforming F&I for Automotive eCommerce
        • Deloitte: ACCELERATING DIVERSITY, EQUITY AND INCLUSION
        • Easycare: Reinventing the service contract for EVs
        • Easycare: The importance of benchmarking your reinsurance performance
        • Effectv: Why “Customer Lifetime Value” Should Be the Auto Advertising Buzz Word for 2023
        • Experian, GroundfTruth and Spectrum Reach: Dealership marketing: Navigating automotive advertising in a post-pandemic world
        • Experian: Evolving identity beyond the “who” to enable the “how”
        • Experian: Three steps to adapting to constant change in automotive marketing
        • HAIG: BUY-SELL Q&A | Valuing dealerships In uncertain times
        • Haig Partners: Buy-Sell Q&A: Where the Automotive M&A Market is heading
        • Haig: Buy-Sell Q&A | Navigating partial dealership sales
        • Haig: Buy-Sell Q&A: Future-proofing your dealership
        • Haig: Buy-Sell Q&A: What is the value of an M&A advisor?
        • JM&A Group, Easycare, Assurant: Unlocking new opportunities in F&I with digital retailing
        • Kerrigan Advisors: Interview with Baxter Auto Group
        • Kerrigan Advisors: Interview with Hitchcock Automotive
        • OEC: How to understand what customers are saying when they’re not saying it
        • PACE: Electrification Technology: Once the supply chain gets over the shock, EVs offer opportunities
        • Pace Program Navigating advanced driver-assistance systems
        • Phone Ninjas: 5 Reasons you need to use phone scripts for your dealership
        • REYNOLDS & REYNOLDS: Creating great retail customer experiences
        • REYNOLDS AND REYNOLDS: Are you ready for the FTC Safeguard Rule changes? Take this quiz to find out
        • Rey and Rey: Automation and the future of automotive retail
        • Siemens: The impact of vehicle electrification and connectivity on electrical system design
        • Spectrum Reach: Playing to win: How automotive dealers can capitalize on sports marketing
        • Swiss Re: Insurers and car manufacturers: how to unlock the potential of true collaboration
        • Text2Drive: Digital retailing meets the service department
        • Trimble: The future of autonomous vehicles speeds ahead
        • Truist: Capitalize on the changing structure of auto retailing
        • Truist: Prepare now for the next era of automotive retailing
        • Urban Science: Promoting dealer-consumer alignment across continued industry evolution
        • Walbridge: Video | Walbridge Chairman on how automotive companies are navigating the electrification boom
        • Western Digital: To Meet Consumer Demand, Automakers Must Double Down on Agile Development
        • Wipro: How to address safety and security for software-defined vehicles
        • Wipro: How today’s tech decisions drive tomorrow’s sales
        • Wipro: Software Helps Address the Affordability Challenge
        • Wipro: The Promise of Software-Defined Vehicles and the Cloud Car Ecosystem
        • Wipro: Video | Wipro CTO on how OEM's are leveraging software-defined vehicle technology
        • Notarize: What to expect for the future of auto sales
        • Seagate: Unlocking value from connected-car data
        • Amazon Web Services: AI-powered supply chain decision-making
        • Epic Games: Five ways in-car designs will change in the next five years
        • Haig Partners: How are dealerships being valued today?
        • Haig Partners: Dealership consolidation trends
        • Haig Partners: Dealership valuation trends
        • Haig Partners: Dealership succession planning
        • Ally: Navigating the future of automotive retailing
        • Google: How a century-old brand is transforming the auto industry
        • Car Wars: Is a Rise in Service Leading to Poor Customer Satisfaction?
        • Solera | DealerSocket: Four real-time integrations that can save your dealership time
        • Solera | DealerSocket: Time for a new pre-owned pricing tactic
        • Kerrigan Advisors: Blue Sky Update Q4 2021
        • Qualcomm: Trading multi-year design cycles for on-demand features and experiences
        • Twitter: EV adoption is happening...in an unexpected place
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