Schaumburg, Ill. — Experian Automotive launched a new prospect acquisition program designed to help OEMs and auto dealers identify and market to consumers eligible for the Consumer Assistance Recycle and Save Act of 2009, or “Cash for Clunkers” as it’s more commonly known.
The Cash for Clunkers program will offer vouchers for up to $4,500 for low-miles-per-gallon vehicles being traded in for new, more fuel-efficient vehicles, giving consumers better incentives on higher-MPG vehicles. Experian’s prospect acquisition program pulls from across Experian’s data assets to build consumer targeting models that identify prospects based on Cash for Clunkers criteria and actual vehicle purchasing behavior. The program also utilizes Experian’s prescreen credit services to identify those consumers who are most likely to qualify for new vehicle financing.
“For OEMs and dealers to truly take advantage of the Cash for Clunkers program, they need to have a firm understanding of who their best prospects are before they can reach them with new offers and incentives,” said Scott Waldron, president of Experian Automotive. “Experian Automotive’s prospect acquisition program helps OEMs and dealers identify qualified consumers so they can build marketing campaigns that deliver the right offers to the best prospects.”
Experian Automotive’s prospect acquisition program analyzes a range of data points:
• Vehicles that have been titled/registered to current owners for at least one year.
• Vehicles that are less than 25 years old.
• Vehicles with MPG ratings coinciding with the program’s criteria.
• Credit Prescreen lists to identify those prospects who are most qualified for new vehicle financing.
• Demographic information pulling from more than 1,500 variables to better understand prospects’ preferences and buying habits.
• Information on past vehicle purchase and disposal behaviors and currently owned vehicles to determine the likelihood of consumers to purchase prior to the program’s end in November 2009.
• Vehicles with a trade-in value likely below $4,500, for which the Cash for Clunkers voucher would be the most profitable option.
• Experian proprietary models based on consumer communication preferences to better understand how and when prospects prefer to receive marketing communications.
Experian’s prospect acquisition program offers OEMs and dealers the option of prospecting lists of direct-mail lists, opt-in e-mail lists or both based on their campaign needs.