Recall notices are critical in the automotive industry – and to keeping customers safe. NHTSA requires OEMs to notify registered owners of vehicles affected by recalls, but oftentimes these mailers can be plain and generic, serving as a broad announcement rather than a direct call to action. By engaging customers facing open recalls with personalized communications, dealers can help ensure customer safety and satisfaction, supporting loyalty and retention efforts – and helping pave the way for new conquest sales. Understanding the Impact of Recalls The number of vehicles with open recalls has ..read more

The dealership service drive has grown increasingly important in recent years. As customers continue to delay their purchases and dealers work to increase their profitability on new and used sales, service appointments have become a strategic touchpoint with prospective customers. When combined with the right tools and process, the insights gathered from routine service visits including vehicle mileage, condition and repair history can be used to predict which customers are preparing to return to market. This data can also be leveraged to create personalized communications that spotlight new m ..read more

In today’s competitive automotive retail market, accurate and comprehensive data is mission critical for dealers to make informed decisions and navigate complex customer buying journeys. To help dealers proactively uncover sales opportunities with a holistic view of their market, Mastermind’s comprehensive network of integrations seamlessly integrates with their existing workflows, connecting to a variety of data sources to provide actionable insights and predictions. Mastermind’s latest integration syncs customer information from Tekion, innovator of the first and fastest cloud-native automot ..read more

Over the last several years, the dealership service drive has increasingly become a critical revenue-generating department. According to NADA data, dealership service and parts sales for new and used vehicles generated $142.62 billion for all-new dealerships in 2023 – representing a more than 18% increase since 2019. The dealership service drive is not only a key revenue stream but also a pivotal point of customer engagement, offering an invaluable source of customer data. By leveraging predictive marketing technology, dealers can tap into this invaluable source of customer insights, effective ..read more

After dipping in 2020 due to the pandemic, the dealership service drive resumed its previous trajectory, growing increasingly more valuable over the last few years. At the same time, the age of vehicles on the road has steadily increased from 9.6 years in 2002 and 12.1 years in 2020, all the way to 12.5 years and older today, according to S&P Global Mobility. With customers waiting longer than ever between new vehicle purchases, refining your dealership’s service department process to generate more revenue can make a critical difference in your dealership’s bottom line. In this post, we’ll ..read more

Keeping up with manufacturer incentives is important for dealers aiming to boost their bottom line and stay ahead in a challenging automotive marketplace. As this year unfolds for auto dealerships, understanding the small details of new OEM incentives becomes increasingly critical. These incentives play a massive role in developing dealership strategies by laying the groundwork for enhancing customer experiences, driving sales and ensuring full buyer satisfaction. For dealers, navigating these diverse OEM incentive programs is essential. Exploring how these incentives work for their team, dea ..read more

After enjoying a period of record-breaking profitability, dealerships are entering a new era marked by increased competition and a pressing need for strategic adaptability. While inventory levels are normalizing and incentives are starting to slowly return, lingering high prices and rates are preventing some buyers from re-entering the market. At the same time, the automotive retail industry is quickly evolving, with new technologies and changing customer buying behaviors putting additional pressure on car dealership sales and marketing teams. To stay ahead and maximize sales opportunities, de ..read more

As margins continue to tighten amid high prices, few incentives, and pent-up customer demand, dealerships need to adapt their sales and marketing strategies to stay ahead of the curve – and the competition. This requires dealers to have a deep understanding of their entire market – not just what vehicle their current customers are driving. Traditional equity mining tools, while valuable, only provide a partial picture of the potential within a dealer’s market. To truly maximize their potential revenue opportunities, dealers need to take a more comprehensive approach. By going beyond standalon ..read more

The key for car dealerships looking to gain a competitive edge lies in mastering the art of automotive prospecting. Broadly referring to the ways dealerships identify, engage and convert potential buyers, this evolving proactive strategy goes beyond waiting for customers to start shopping around. Effective automotive prospecting requires dealers to identify and engage prospective buyers before the return to market. Automotive Prospecting Strategies Unlike the conventional wait-and-see approach, proactive customer prospecting enables dealers to create a pipeline of future sales opportunities b ..read more

NADA Show 2024 unfolded in a whirlwind of innovation and strategic partnerships for Team Mastermind, marking yet another milestone in our journey. This was our team’s 10th appearance at an NADA Show (including the virtual event in 2021), with humble beginnings inside a 10×10 booth in 2014. Throughout the week, we proudly showcased how our team and Mastermind have grown and evolved alongside the automotive industry, evolving into a true data and technology partner – driving value through actionable intelligence and personalized experiences. Pre-Show Excitement with New Integrations Before we e ..read more