New Qualified Customer Offering from Team Velocity and Powered by Equifax Provides Powerful Subscription Marketing Service to Help Dealers Target Ready-to-Buy Shoppers
Equifax and Team Velocity Marketing, a Data Driven Holdings company (DDH), have partnered to deliver an innovative new subscription marketing service for automotive dealers through Team Velocity’s recently launched Qualified Customer offering. Using anonymized Equifax differentiated data assets, Team Velocity has developed a proprietary propensity score to identify and target “perfect-time” shoppers – the individuals who are credit-qualified and most likely to buy a vehicle now.
With chip shortages impacting automotive inventory supply for the second year in a row, competition is higher than ever for dealers to find the right shoppers who are ready to transact and can afford a vehicle. Team Velocity utilizes lease-end insight and information to best identify consumers who are most likely to transact next, helping dealers deliver offers and drive sales conversion to prospective buyers with an average return on investment (ROI) of 26:1.
As a sales agent for Equifax authorized to fulfill end-to-end prescreen programs, Qualified Customer can help dealers target and market to individuals who meet a variety of credit and financial requirements, including prospects with current or past automotive loans and leases in accordance with Fair Credit Reporting Act (FCRA) guidelines. The new subscription service enables dealers to target consumers in their geographic area with an offer across mail, email and online channels.
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“Equifax has built its business with the understanding that more data powers better decisions. The company’s differentiated data assets and extensive geographic coverage is invaluable to our dealers in a post-COVID sales environment,” said William Reilly, Chief Operating Officer of Team Velocity. “Our campaign distribution combined with the power of the Equifax data has generated tremendous ROI for our customers.”
“In 2021, our Qualified Customer programs with dealer customers not only helped increase ROI, but also helped improve inventory through trade-ins. By expanding our cross-media off lease and trade cycle strategy using Equifax data, we expect to build upon our success,” remarked Scott Fletcher, partner at Team Velocity and founder of Qualified Customer.
“Equifax has a long history and tradition of working with our automotive partners to develop innovative solutions for the industry. We are proud to bring our unique and differentiated data assets to help dealers more efficiently market to in-market consumers and drive sales,” said Lena Bourgeois, General Manager of Equifax Automotive Services from Equifax. “We are looking forward to helping Team Velocity bring this next iteration of omnichannel targeting to market with Qualified Customer.”