AutoGravity has set the wheels in motion to integrate consumer behavior data from Experian Automotive into its digital car-buying platform.
“There’s an idea of what the perfect digital auto retailing is, and then there’s where we are today — and there’s this massive gap in between,” Mark Humphrey, AutoGravity’s vice president of lender network, told AFN.
To fill that gap, AutoGravity will tap Experian’s data on customer transactions and leads on previous car buyers. An early example of collaboration between the two companies is a service that would streamline the application process by pre-populating certain fields with information from Experian. The aim is to better understand consumer behavior and then make changes that refine AutoGravity’s lead-generating process.
“Before, you used to scratch the names and numbers [of potential leads] on a piece of paper,” Humphrey said. “Now we have this digital realm where we create a funnel and track all these people and do it in a much more educated manner.”
It’s all about “putting the right customer in the right car with the best financing they can get,” said Experian Automotive Solutions Consultant Karl Kruppa. “You don’t want somebody shopping for a car that they can’t afford or qualify for from a credit perspective.”
AutoGravity also plans to analyze Experian data on the kinds of cars consumers are buying; whether they’re buying from dealerships; if they’re looking at new or used vehicles; and whether they are financing with the lender that originally approved them for the loan.
AutoGravity plans to spend the next six to nine months in an “aggressive testing period,” Humphrey said, creating new products based on the data, scrapping existing products that don’t work, and expanding those that do.
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