Customer databases hold potential sales

publication date: Sep 8, 2008

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author/source: Robin Roberts

Almost nine in ten British car owners have admitted that they are worried about the rising costs of living, but two in five would delay buying a car as a result, according to a survey by Experian.

Kirk Fletcher, Managing Director of Experian’s Automotive division, said, “People are clearly worried about the current economic climate.  However, it is interesting to find that the influence of these concerns is not as overwhelming as expected. 

“People are certainly thinking about these issues when they are considering a car purchase, but not as many people as expected are actually delaying their purchase.  People are still buying cars.

“For example, just over a third of the British car owners change their cars regularly within a three year period.  Of these, 83 per cent have admitted that they are worried about the current costs of running a car, but only 20 per cent would actually consider delaying buying a car at the moment.  There is still an opportunity to reach the car owners who are still likely to change their cars within that three year cycle.

“The focus for dealers now is to make the most of opportunities that are already present in their businesses.  For example, the most effective revenue-building asset in a dealership is the customer database. 

“Dealers can maximise a database’s value by using it to understand their customers more, then identify and target those who are most likely to buy soon.  A key part of this, however, is ensuring that their customer records are up-to-date.  Regular data cleansing is a small price for the significant amount of wasted expenditure it will save in the long run.”