New platform enables auto dealers to better understand and target consumers that are “In-Market” to buy or lease a vehicle
DALLAS, October 31, 2017 — Pearl Technology Holdings, LLC, (Pearl) (www.pearlsolutions.com) today announced it has expanded its relationship with Experian (www.experian.com) to include information on consumer vehicle buying habits, which enables automotive dealers to precisely target consumers that have the highest propensity to purchase or lease a vehicle within a specified timeframe.
As part of the agreement, Pearl is now able to evaluate more than 1,000 elements when scoring a consumer’s propensity to buy or lease, as well as open new opportunities to its auto dealer clients for pre-owned and CPO units. Pearl now knows which consumers are new or pre-owned buyers, and can target by propensity; APR; payment amount; payments made or remaining; term and credit score; to list a few.
“We are simply thrilled to expand our relationship with Experian. We contemplated building our own scoring methodology but ultimately there is no better data or analytic interpreter than Experian,” said Bruce Thompson CEO and Founder of Pearl. “Understanding what consumers are likely to purchase or lease, as well as when, is what it’s all about. Overlaying our existing technology on top of 240 million pre-screened records allows our clients to win big with much less investment. No more wasted advertising dollars with a shotgun approach. This new integrated platform gives Pearl one of the most powerful and accurate vehicle marketing system in the industry,” Thompson continued.
Today, Pearl’s VehicleXchange incentive-based marketing platform processes nearly 50,000 Experian consumer pre-screens per day for both dealer and OEM clients. It excels in assisting clients to gain significant market share by targeting competitor’s customers in expiring leases. By leveraging the new data from Experian, Pearl’s clients will now have the capability to conquest market share for any type of transaction by almost any criteria. To that point, the enhanced platform will now allow Pearl to assist dealers in identifying and marketing to Pre-Owned buyers, which represents the largest segment of buyers.
“We’re excited to continue our work with the Pearl team,” said John Gray, president of Experian Automotive. “Understanding the current market landscape and when a consumer is in the market to buy is critical for automotive dealers and OEMs alike. With these insights available, dealers will be able to unlock the potential of the data and to uncover new pockets of opportunity, increase profitability and improve the overall consumer experience.”
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With the formation of American Auto Exchange (AAX) in 2001, auto industry entrepreneur Bruce Thompson became widely known as the creator of the “used car inventory management” space. He went on to start RedBumper, LLC in 2010, which is also primarily focused on “used car inventory management.” RedBumper’s intellectual property was acquired by CDK Global in September 2014. At that time, Thompson formed a new holding company, Pearl Technology Holdings, LLC, created to be an automotive technology incubator. The company’s mission is to create and deliver innovative new tools that have an impact on the industry. Pearl has launched seven subsidiaries: NewCar IQ, LLC; VehicleXchange, LLC; eCarTag, LLC; Trade-In Concierge, LLC, Pearl Proximity, LLC, Pearl Intercept, LLC and ShowroomXpress, LLC. NewCarIQ, LLC was acquired by CDK Global in January 2016.
Director of Marketing
Pearl Technology Holdings, LLC
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Author: Digital Dealer
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