{"id":84173,"date":"2024-01-29T06:29:50","date_gmt":"2024-01-29T06:29:50","guid":{"rendered":"http:\/\/www.spglobal.com\/mobility\/en\/research-analysis\/fuel-for-thought-nada-preview.html"},"modified":"2024-01-29T06:29:50","modified_gmt":"2024-01-29T06:29:50","slug":"fuel-for-thought-nada-preview","status":"publish","type":"post","link":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/2024\/01\/29\/fuel-for-thought-nada-preview\/","title":{"rendered":"Fuel for Thought: NADA Preview"},"content":{"rendered":"

In the ramp-up to NADA 2024, S&P Global Mobility
\nis sharing an overview of the solutions we're prepared to highlight
\nand talk with industry friends and customers about at the show and
\nin the weeks that follow. Among the highlights, our latest
\nsolutions for dealers, marketers, OEMs and lenders doing business
\nin the industry, including solutions from our industry market
\nreporting team, Polk Automotive Solutions and Market Scan
\nportfolios. Please stop by to see us in Booth 3131W. If you'd like
\nto arrange a meeting or a demo in advance, please reach out to us
\n
\nhere<\/a>.<\/em><\/strong><\/p>\n

Recall Dealer Outreach Provides Opportunities for
\nDealers<\/strong><\/h4>\n

Every year tens of millions of vehicles in the US are recalled.
\nAccording to NHTSA, in 2020 and 2021 over 50 million vehicles were
\nrecalled in the US; over 30 million in 2022.<\/p>\n

S&amp;P Global Mobility working with all of the major OEMs on
\ntheir automotive recall efforts. With over 50 years of experience
\nin this area, S&amp;P Global Mobility has developed a deep
\nunderstanding of recall data and the importance of contacting the
\nright customer to reach the ultimate goal of completing the recall
\nand increasing overall consumer safety.<\/p>\n

S&amp;P Global Mobility is now offering a Recall Dealer Outreach
\nsolution that is designed to identify vehicles that have open
\nrecalls and are located in the primary dealer service area.<\/p>\n

The goal of the solution is to actively contribute to the
\nenhancement of overall road safety by reconnecting both new and
\nexisting customers with their trusted dealerships. In achieving
\nthis mission, dealerships have the opportunity for a substantial
\nincrease in both service and sales revenue, all while fostering
\ncustomer loyalty.<\/p>\n

The dealers that are using this product are seeing combined
\nrevenue of more than $600 for repair orders due to the recall,
\nalong with a 30% increase in customer-pay upsell for additional
\nservices while in the service bay. Recall completion rates for
\nthese dealers are 3X when compared to the dealerships that do not
\nuse our Recall Dealer Outreach program. In addition, 30% of the
\ncustomers that remedy recalls are NEW customers who have not been
\nto the dealership before.<\/p>\n

This solution not only prioritizes consumer safety but also
\nelevates a dealership's recall management by inspiring confidence
\nin consumers and driving long-term customer relationships and
\nloyalty. In turn, this leads to a considerable increase in both
\nservice and sales revenue over time.<\/p>\n

For more information on this program, click here<\/a>.<\/p>\n

Market Scan's future product roadmap, featuring
\nfirst-to-market solutions<\/strong><\/h4>\n

Market Scan<\/a>, now part of
\nS&amp;P Global Mobility, is highlighting its forward-looking
\nproduct roadmap during NADA Show 2024. Market Scan provides digital
\npayment solutions powered by daily electronic data capture and a
\npowerful cloud-based calculation engine, to serve dealers, OEMs,
\nlenders, technology companies and the automotive industry with
\nunparalleled precision in vehicle payment calculations. These
\nsolutions allow the right offer to be presented to a consumer at
\nthe right time in their vehicle buying journey.<\/p>\n

As the industry faces an affordability crisis due to near-record
\nhigh vehicle prices, stagnating EV adoption and related consumer
\nacceptance challenges, S&amp;P Global Mobility's product roadmap
\naims to create transparency by giving OEMs and lenders access to
\ncritical and most up-to-date competitive pricing data to swiftly
\nadjust their pricing and incentive strategies. Through the rapid
\ngeneration of integrated solutions, users can gather actionable
\ninsights at a granular level to make smarter spending decisions
\nthat protect their bottom line and maintain market share.\u200b<\/p>\n

S&amp;P Global Mobility will launch Incentives Monitor in Q1
\nwhich is the first of many new data driven applications that will
\nenhance OEMs' and lenders' ability to adjust programs and remain
\ncompetitive in their market. The Incentives Monitor application is
\na cutting-edge, web-based analytics tool that will revolutionize
\nthe way OEMs and lenders comprehend and navigate the competitive
\nautomotive marketplace and will save incentive planners valuable
\ntime typically spent analyzing competitive positioning every single
\nmonth.<\/p>\n

S&amp;P Global Mobility also plans to develop solutions which
\nwill enable users to evaluate how changes in price positioning will
\nimpact sales and profitability. S&amp;P Global Mobility can serve
\nas a strategic partner with solutions that enable OEMs and lenders
\nto optimize decision making and achieve their desired outcomes.<\/p>\n

In the coming months, the S&amp;P Global Mobility product
\nroadmap will continue to adapt based on its existing products,
\nadditional integration of platforms and access to new comprehensive
\ndata sets. Building off other S&amp;P Global Mobility portfolios,
\nlike automotiveMastermind, will further enhance and improve how its
\nproduct roadmap aggregates data to address the continuously
\nevolving needs of its customers.<\/p>\n

Polk Automotive Solutions offer Campaign and
\nMeasurement Solutions for Automotive Marketers and
\nDealers<\/strong><\/h4>\n

As the path to EV transition widens and more products and
\noptions enter the marketplace, automotive retailers face
\nsignificant challenges in managing inventory, ad complexity, and
\nmeasurement across different vehicle types, customer types, and
\nbuying motivations. Retailers that succeed here will enjoy a
\ncompetitive advantage by gaining actionable insights from their CRM
\nprograms, increasing lifetime customer value and improving campaign
\nand ad investment performance.<\/p>\n

Polk Signals: Data Enrichment<\/strong><\/p>\n

First party customer engagement in now marketing's biggest
\ncompetitive arena. Marketers need to fortify their first-party data
\nwith complete vehicle ownership and financial profiles so that they
\nunderstand their customer base better than anyone else in the
\nmarket.<\/p>\n

Data enrichment is key to improving customer connections.
\nEnhancing first-party data with Polk Signals owner and buyer data
\nsets helps marketers develop comprehensive customer that improve
\ncustomer connections and provide additional sales and loyalty
\nopportunities.<\/p>\n

Polk Signals: Campaign Measurement<\/strong><\/p>\n

Measure campaign effectiveness. Get better insights – see how
\nmany sales were generated from marketing investments.<\/p>\n

Polk Signals sales attribution is used for clients seeking
\nperformance insights and analytics for the measurement of campaigns
\nand\/or visitation based on real time sales, buy-through-rates and
\npurchase lift.<\/p>\n