VW Credit and Audi Financial Services are providing their dealer partners with more personalized customer data, thanks to a new integration with DealerSocket’s CRM platform, Darren Harris, executive vice president and general manager of retail solutions at DealerSocket, told Auto Finance News.
Through the integration, the captives will funnel 40 different data points, such as contract rates and terms, base payment amount and outstanding balances, to the DealerSocket CRM. Rather than dealers toggling between the captives’ portals and the third-party platform, the data will be presented clearly on one interface. The integration, which took 18 months, builds upon an existing relationship between the lenders and DealerSocket.
“[The captives] are ecstatic because they get more usage out of the data they’re trying to push and publish anyway,” Harris said. “It’s an easier mechanism for them to get dealers the data that they can actually act on because when you know more about your prospect or customer, your ability to provide them a richer customer experience is going to go up, which translates to more [sales].”
The functionality will allow Volkswagen — whose captive boasts a $25 billion portfolio according to Big Wheels Auto Finance Data — and Audi dealers to be more proactive with the end-of-term process and will enable them to provide a more personalized sales experience, Harris noted.
“As the dealers navigate through the sales process, they have additional information that they didn’t have before; there’s no guessing at what vehicle are these guys currently on, what’s their current payment, how much time is on their lease,” Harris explained. “All that information that was hidden on the backend is now provided on the front-end.”
The Irving, Texas-based fintech works with more 8,000 dealerships, according to its website.
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