Atlanta, GA - CompetitorPro recently announced the auto retail industry's first competitive intelligence solution, providing automobile dealers with actionable, in-depth performance metrics on their top competitors.
"CompetitorPro has figured out how to bridge the gap in business intelligence, that missing piece that now enables dealers to benchmark their business against their top competitors," said Dinos Constantine, COO at Holler-Classic Automotive Group, Orlando.
CompetitorPro sources over 1.4 billion data points collected daily, including multiple redundant sources of both vehicle and dealer data. All data sources are publicly available, and they do not pull any data from dealership management systems (DMS). Using proprietary machine learning and natural language processing algorithms, CompetitorPro gives dealers actionable insights in an easy to read dashboard, to help them outmaneuver their competition.
"We're on top of business intelligence applications here at the Del Grande Dealer Group, but the industry has never had this kind of day-to-day insight about their key competitors," said Jeremy Beaver, COO of the Silicon Valley-based group. Like Constantine, he has been testing CompetitorPro for several months.
CompetitorPro will provide NADA '17 attendees a free analysis of how they compare against their top local competitor. Visit Booth 5607 during January 26-29 at the New Orleans Ernest N. Morial Convention Center.
CompetitorPro's intuitive dashboard user interface delivers side-by-side operating metrics comparing a dealer's performance to their top competitors, as determined by the dealer, in these categories:
. Sales Data: For both new and used vehicles, month-to-date totals, top volume models, current and historic monthly sales, average inventory by month, days in stock, total sales, average MSRP and price to market, and average price change per VIN.
. Inventory Data: Days to sale and inventory turn, vehicle aging, pricing, repricing frequency, price-to-market data and days to sell.
. Website Analytics: Including monthly site visits versus competition, site engagement statistics, organic and paid keyword engagement data, cost per click, bounce rates, traffic sources, other websites your consumer is cross shopping, and the competitors' top referring sites.
. Advertising Analysis and Spend: To identify competitors' media choices and those advertising sources' performance data.
"Until now, dealers have been unable to instantly view this level of competitive insight, and have been challenged with benchmarking the performance of their stores against their main competition. CompetitorPro allows visibility into your competitor's strategies, ultimately allowing you to outsmart the competition," said CompetitorPro CEO Steve Greenfield.
The U.S. automotive landscape is very competitive: 2,500 dealerships have more than 10 same-brand competitors within a 20-mile radius. Except for very rural operators, most dealerships have multiple local competitors with whom they compete aggressively, whether same-brand stores or other make retailers.
"In the used car space, dealers have other tools to help them price vehicles and identify the best models for their market. But without CompetitorPro I wouldn't be able to find used car data about the dealership up the street," said Emanuel Jones II, General Manager for Legacy Automotive, Atlanta.
Visit NADA, booth 5607 to get a free competitive analysis of how your store compares to your key competitor's performance metrics.