DALLAS — Pearl Technology Holdings LLC today announced a new effort with Experian that will enable it to deliver expiring consumer auto lease data to its VehicleXchange (VX), OEM and dealer partners. According to Experian, approximately three million leases are set to expire in the United States in the next 12 months.
With the connection, OEMs or dealers utilizing the VehicleXchange marketing platform will be able to identify and extend a firm offer of credit to all qualifying customers with expiring leases within a market, or by ZIP Code.
“Expiring lease data is gold for any OEM or dealer wanting to increase sales and gain market share,” said Bruce Thompson, CEO and founder of Pearl. “Imagine being able to market to every customer with three to six lease payments remaining in a given market. Our clients can spend much less money and be significantly more successful because it’s a surgical approach to reaching the consumers we absolutely know are ‘in-market’ for a new vehicle.”
Through the VehicleXchange platform, dealers and OEMs can determine market opportunity by make, model, payment, and then target customers based on remaining payments or credit tier by providing an Experian prescreened firm offer of credit. This allows dealers to strategically target and formulate “pull forward” lease and payment offers. The filtering engine also allows a manufacturer or dealer to determine maximum “pull forward” exposure per unit, while at the same time targeting only consumers with current payments within a certain range.
“Our OEM partners can actually use Experian data to formulate their monthly model lease incentives by region or market,” said Thompson. “Understanding the current lease terms and contact info for off-lease consumers in a market is a big time game changer.”
VehicleXchange began as a service drive equity tool, but has evolved into a full-service marketing platform. Dealers can utilize the full suite of tools, or simply execute marketing campaigns leveraging pre-screen and expiring lease data from Experian.
VehicleXchange and Pearl’s full product suite will be on display in booth No. 3129 at the 2017 NADA Convention & Expo (Jan. 26-29) in New Orleans. For more, click here.