Staying connected to your vehicle owners can make all the difference to your ongoing customer relationships, both when you sell a brand-new vehicle to someone and when that vehicle is sold to a subsequent owner.
It is difficult to keep track of a vehicle’s ownership if it is sold in a private market or through an independent dealer. Such transactions can often create a blind spot for automakers.
This blind spot could create potential issues for Automotive OEMs, such as not knowing when to deactivate the prior vehicle owner’s connected services and transfer to the subsequent vehicle owner the connected services and other benefits inherent to the vehicle – and also potentially losing the opportunity to start building a relationship with the subsequent vehicle owner.
Just to give an idea of how common this blind spot can be, two out of three vehicle sales in the United States happen in the private market or with independent dealers.1 In 2019 alone, 40 million previously owned vehicles were sold in the United States.2
To help automakers better connect with subsequent vehicle owners, we created LexisNexis® Owner Check. This owner intelligence solution can help automakers establish a relationship with that new vehicle owner and help them take advantage of free transferrable vehicle services. This new established relationship can help automakers get one step closer to the coveted Customer Golden Master Record while having more accurate information on their customers.
233 Million Unique Vehicle Identification Numbers (VINs)3
LexisNexis® Owner Check analyzes over 80 billion public records to build a more accurate view of vehicle ownership across all 50 states.4 Using advanced linking technology in combination with LexID®, our unique identifier, we resolve, match, and manage information on more than 284 million unique consumer identities4 and over 233 million unique VINs.3
One major benefit of having the most current information on subsequent vehicle owners is the possibility to engage them with your brand by offering no-charge transfer of eligible services. For example, if one of your models comes with five years of free trial of connected services and the car is sold two years after it was first purchased, the subsequent vehicle owner may enjoy the remaining three years of free trial services. But those subsequent vehicle owners may not be aware that they can receive the remaining balance of eligible vehicle services.
To have the ability to reach out to subsequent vehicle owners and offer no-charge transfer of eligible services can be a great way to start building a relationship with the new owner for future engagement and opportunities.
Over-the-Air Updates for Services
Connected cars allow automakers to go even further. With over-the-air updates, subsequent vehicle owners can add new features tailored to their needs and desire. To be able to know and engage with subsequent owners can help create more direct and recurring touchpoints that, ultimately, can help turn them into lifelong customers.
Customer Retention Opportunities
LexisNexis® Owner Check helps automakers take a step in connecting with subsequent vehicle owners so they can help those owners take advantage of available, free services for their vehicles. As automakers make those new connections in the transfer of services, they are building a more consolidated and comprehensive view of their customer base and achieving a Golden Master Record.
A Golden Master Record can bring countless benefits for automakers, such as helping to ensure they have more accurate records in their database for ongoing customer engagement and retention opportunities.
To learn more about LexisNexis® Owner Check, please visit the following page to access our latest infographic, explaining in detail how it works and the advantages it brings to automakers.
Visit our webpage or email us at USConnectedCar@lexisnexisrisk.com to learn more about how our solutions can help you improve your customer outreach efforts.
1Edmunds 2019 Used Car Report
2NIADA: 2019 Used Car Industry Report
3LexisNexis Risk Solutions: October 2021 Internal Data Analysis
4LexisNexis Risk Solutions: September 2021 Internal Data Analysis