Equifax & Team Velocity partner to send dealers ‘perfect-time’ shoppers
Equifax and Team Velocity Marketing want dealers to work with who they’re calling “perfect-time” shoppers — individuals who are credit-qualified and most likely to buy a vehicle now.
To get those shoppers to dealerships, Equifax and Team Velocity Marketing formed a partnership to deliver an innovative new subscription marketing service for dealers through Team Velocity’s recently launched qualified customer offering.
Using anonymized Equifax differentiated data assets, Team Velocity has developed a proprietary propensity score to identify and target these “perfect-time” shoppers.
With chip shortages impacting automotive inventory supply for the second year in a row, Equifax and Team Velocity Marketing acknowledged in a news release that competition is higher than ever for dealers to find the right shoppers who are ready to transact and can afford a vehicle.
Team Velocity explained that it utilizes lease-end insight and information to best identify consumers who are most likely to transact next, helping dealers deliver offers and drive sales conversion to prospective buyers with an average return on investment of 26:1.
As a sales agent for Equifax authorized to fulfill end-to-end prescreen programs, the companies highlighted that their tool can help dealers target and market to individuals who meet a variety of credit and financial requirements, including prospects with current or past automotive installment contracts and leases in accordance with Fair Credit Reporting Act (FCRA) guidelines.
Furthermore, the new subscription marketing service can enable dealers to target consumers in their geographic area with an offer across mail, email and online channels.
“Equifax has built its business with the understanding that more data powers better decisions. The company’s differentiated data assets and extensive geographic coverage is invaluable to our dealers in a post-COVID sales environment,”, of Team Velocity Marketing chief operating officer William Reilly said in the news release. “Our campaign distribution combined with the power of the Equifax data has generated tremendous ROI for our customers.”
Team Velocity partner Scott Fletcher added, “In 2021, our qualified customer programs with dealer customers not only helped increase ROI, but also helped improve inventory through trade-ins. By expanding our cross-media off lease and trade cycle strategy using Equifax data, we expect to build upon our success.”
Lena Bourgeois is general manager of automotive services for Equifax.
“Equifax has a long history and tradition of working with our automotive partners to develop innovative solutions for the industry. We are proud to bring our unique and differentiated data assets to help dealers more efficiently market to in-market consumers and drive sales,” Bourgeois said. “We are looking forward to helping Team Velocity bring this next iteration of omnichannel targeting to market with qualified customer.”
To learn more about this new subscription marketing service for auto dealers, view this video or visit thequalifiedcustomer.com.