A Comprehensive Guide to Unlocking the Full Power of CDP Reporting

Here’s a hard truth: Your ability to activate your data will soon become the factor that dictates whether your dealership flourishes or flounders. As the dealers increasingly adopt Customer Data Platforms (CDPs), it’s critical to not only focus on unifying and cleaning your data, but also on activating it by leveraging your CDP reports.

Fact is, missing out on the activation opportunities offered by CDP reporting could cost you your competitive edge. Let's take a deep dive into how CDPs transform raw, disconnected dealership data into actionable insights for success.

Connectivity as the Catalyst for Insightful Reporting

Before we can understand the different reports offered by a CDP, we need to take a closer look at the real impact of data connectivity and how it translates into more effective reporting:

Clarity Through Connection

By connecting shopper data from every source at your dealership, a CDP can build reports that reveal insights from data that was previously siloed. This correlation of information makes it so much easier to identify trends and opportunities that can drive your strategy forward. It’s about taking disconnected data and bringing it together to form a full story that has a beginning, middle, and end, so you can get the clarity you need to make impactful business decisions.

On Point at Every Point

Accuracy isn’t just nice to have when it comes to engaging shoppers; it’s essential. One bad interaction can cost you a customer for life, and one wrong business decision can leave a lasting mark. The CDP keeps your data constantly and continuously clean and standardized so your reports are reliable, putting your finger on the pulse of what’s happening at your dealership. When you know your numbers are accurate, you can confidently make informed decisions.

Decisions, Decisions

CDPs give you the ability to build comprehensive reports by pulling from multiple data sources. By unifying your CRM, your website data, and your DMS data, and more, you can view your entire customer journey. This integrated view allows you to understand shopper behavior and preferences so you can tailor your sales and marketing strategies to engage specific audiences based on their individual needs and can propel your dealership to new heights.

Sharing is Caring

The ability to securely share data and reports across departments allows for sales, marketing, and service teams to access the same insights, ensuring they are properly equipped to make data-driven decisions. With the proper training on CDP, this seamless flow of information fosters a culture of collaboration with everyone working towards common goals.

The Essential CDP Report List Every Dealer Needs

The right CDP reports can act as your data-driven guide to making informed decisions and enhancing your dealership performance. Each report serves as a vital tool that offers unique insights and actionable data, ultimately shaping your strategies and operations. Let’s explore the key reports that every dealership should be leveraging to unlock the full potential of their unified data:

• High-Level Overview Report: This report is a management necessity. The high-level overview offers an aggregated look at sales trends, customer behaviors, and lead activities. It provides a snapshot that enables you to quickly assess where your dealership stands month-to-month.
• Website Reports: Acting as a digital health check, this report dives into traffic trends, engagement metrics, and website user behaviors. It provides the insights you need to effectively refine your online marketing strategy.
• CRM and DMS Reports: These are two huge data infrastructures that, when brought together with the CDP, creates the ideal dealership data infrastructure as the CDP pulls from both of those major datacenters to get a better look at what is going on. These reports are an invaluable resource that identifies critical data including top lead sources, RO data, and sales team performance. This enriched understanding helps you make smarter, more strategic decisions.
• Inventory Reports: Knowing how your inventory is performing is crucial. Inventory reports can pinpoint slower moving models, vehicles that are flying off the lot, and allow you to see performance on specific makes and models so you can understand what is working at your dealership and align with customer demand.

CDP-Powered Data Activation for Dynamic Dealership Growth

Data without activation is like getting behind the wheel of a car without the key. It has the potential to drive you forward, but if you can’t turn it on, you stay stuck in the same place. Customer Data Platforms equip you with the tools you need to activate your data - be it through marketing campaigns, AI-automations, sales activities, inventory management, or any other activity that can help you take your business to the next level. As the industry progresses, understanding the value of CDP reporting and the activation possibilities that exist within them, will not only keep you in the race, it will keep you at the head of the pack.