SOURCE: Black Book

Black Book

March 29, 2016 09:30 ET

Black Book Launches Bullseye Prospecting to Help Marketing Agencies Reach Economies of Scale for Auto Dealer Clients

One-Stop-Shop Platform Creates More Campaign Efficiency for Better Bottom-Line Results

LAWRENCEVILLE, GA--(Marketwired - March 29, 2016) -  Black Book announces its latest innovation called Bullseye Prospecting, a comprehensive, all-in-one solution designed to help marketing agencies automate customer campaigns for their auto dealership clients. During initial tests Bullseye Prospecting was found to deliver a 30 percent reduction in cost per car sold, driving better results with increased efficiency.

Powered by data from Black Book, Bullseye Prospecting is designed to reduce and consolidate the many different touch points involved in the development and execution of a customer campaign. Marketing agencies often work with several different vendors, all who add to the overall cost of production after markups are taken into effect. Bullseye Prospeting seamlessly leverages economies of scale for data coming from DMS, consumer, incentives, and vehicle equity and valuation sources. The program also leverages partnerships with photo and printer vendors for direct marketing collateral.

"With Bullseye Prospecting, marketing agencies will produce better results for their auto dealer clients by leveraging economies of scale during campaigns," said Jared Kalfus, Senior Vice President of Sales for Black Book. "Bullseye Prospecting is designed to introduce a more seamless process into customer campaign development and execution, and agencies will have access to optimal reporting capabilities."

Dealers and their marketing partners need to re-evaluate the way in which customer campaigns are developed and managed in order to lower their total costs. Dealer profits are shrinking, mainly due to tightening margins on the sale of new and used vehicles. According to Henderson, Hutcherson and McCullough's (HHM) recent auto dealer economic outlook, the gross profit margin for dealers fell from 13.5 percent down to 13.3 percent. The report also stated that the average new vehicle gross profit fell from $1,204 down to $1,193. Gross margins also declined from 3.81 percent down to 3.68 percent.

Conversely, campaign costs remain high for dealers. According to research firm, Statista, the average-size dealership (selling between 150-399 cars annually) spends approximately $616 on advertising per each new car sold. This number increases as dealer size shrinks. The firm points out that dealerships selling between 1-149 cars annually are faced with a per-car advertising spend of $862.

To schedule a demo of Bullseye Prospecting, visit BullseyeProspecting.com.

About Black Book

Black Book® is best known in the automotive industry for providing timely, independent and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. A leading provider since 1955, Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst Business media, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto. For more information, please visit BlackBookAuto.com or call 800.554.1026.

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