In today’s generally flat new-car market, successful dealers need the perfect mix of data and market intelligence to drive more sales, cultivate deeper customer relationships and develop new ways of better conquesting customers from their competition.
One of the few companies in the auto retail tech space that does this is String Automotive and in May 2017, Experian Automotive announced it would be acquiring the 12 year-old data analytics firm based in Newton, MA.
Per The Banks Report, the acquisition cements a relationship that began in 2014 when Experian Automotive’s Auto Market DNA℠ demographic and behavioral information’s was integrated with String’s business intelligence platform, the Dealer Positioning System (DPS).
String aggregates and analyzes data from multiple sources to help dealers evaluate their marketing efforts. Its DPS solution provides dealers with data-based recommendations on how to maximize those efforts.
Last week, I had the opportunity to connect with String Founder Ken Kolodziej and discuss the acquisition. Ken and his team are staying on with Experian Automotive. The String name is going away, however.