What is a Customer Data Platform and How to Use It - Brian Pasch

What Is a Customer Data Platform and How to Use It

Brian Pasch: I want to thank the Reynolds team for inviting me to come out and speak. And this next generation of software called the Customer Data platform, I believe will be the standard for multi store dealer groups, much more likely than, say, in the next year or two. Oh, that's even better. Good. Much more than what might be happening at a single store group. So those of you who like to read, especially all the wonderful things that I write, you can scan this QR code because I've published a 70 page report on customer data platforms. You can download the PDF version. Now if you hate reading PDFs, I did bring three copies of the report. So if you're kind of old school like me and like a physical book, I brought three copies. What are we going to talk about today? First, we're going to talk about what a CDP is and why should you invest in it now? Identity resolution. The ability to understand who's on your website, even though they may not fill out a form or call you is very important to a customer data platform. Three. What are some of the challenges for a dealer to move in to organizing their first party data. And the last, what does a strategic plan look like? So let's talk about what is a CDP. The general use case for a CDP is somewhat comical because of how automotive retail works. For the dealers here, this is your customer and let's take a look at how you communicate with this customer. Maybe they come to your website and I don't care whose website platform you have, but the website company would be a company that you do business with that has a piece of the customer journey, right? They come to the website, you know, they track what's going on. Now you may have an identity resolution company sitting on your website. It could be Fullpath or Foureyes or some other company. And they're the second company that has a piece of what the customer's doing in your business. Maybe you have a DR tool like Gubagoo and now Gubagoo as they engage with the payment and estimating, now that's the third company that has a piece of the customer journey. I've been writing a lot about this. Every click, hover, swipe that's going on on a dealer's website goes to Google Analytics. There's a new version, Version four, that's the fourth company. Maybe you have forms on your website like every dealer does. And then those forms, whether they're part of the DR tool or the native website, go into the fifth piece of software, the CRM. If you have secure forms like a service schedule or a finance app, there could be a sixth company that has a piece of the customer interaction. Those get sent to the DMS. Now there's the seventh company that has a piece of the customer journey. And then of course, you have click to call on your website. Now the phone platform has a piece--date, time, what phone number they called, what extension, how long the call was for. And of course now in GA4, we could start to send what happened on the phone call into analytics so we could actually, for the first time in 20 years, optimize our Google advertising. Prior to that, dealers were guessing if their Google advertising was working. The telepathy platform is also connected to the CRM. Click to call. All of this data is going on and of course then your CRM starts emailing or texting the customer. Maybe you push the deal into a desking solution that's different than the other solutions. Now you have a ninth. That Desking solution could be sending deal jackets and then eventually it's a sale, data gets pushed into the DMS. But it gets even better because you weren't happy with all of those ten companies or nine companies you would like, Hey, I might as well hire an equity mining company. So I'm going to share that data from the DMS with an equity mining company, they're going to be communicating, sending out offers to the customer. And of course, let's add some more fun to the mix. The 11th company who's going to take data and communicate to the consumer via email marketing, Facebook, or Google. And last, don't forget, service-- customers are going to be calling in, maybe setting up a service appointment. And lo and behold, we don't have enough people in the mix. We now have a service marketing company. This is 12 different companies touching the customer, and yet the right hand doesn't know what the left hand is doing. If you ask any sober dealer principal, do you know the cadence of communication that are going out to your customers? They would say, I have no idea. It's also complicated because the OEM is sending out offers to the consumer as well. So what do we have? We have a very complex system. You saw it. It's repetitive. Somebody could be sending out one offer from the sales marketing company and yet your Google Ads campaign is sending a different sales offer because they're not talking to each other. It's aggravating to the customer and it's kind of perplexing. You know, Brian, now that you draw that picture, I mean, this is 2023. Isn't this cloud storage, cloud computing, the world of connectivity? Why do we have 12 plus different vendors? Well, it's very simple. It's because we've been putting up with crap for a long time. Dealers haven't really thought about it but we've always known that we have no ability to control the customer experience. We have no ability to control the customer experience because there's no central truth of who the customer is, where they live, what vehicles they own today, what's their best way to communicate, what's their preferred--jumping ahead. What is a customer data platform? It's a piece of software that I believe, not because I'm a prophet, it's happening in the largest dealer groups today. It will be the third leg of the stool. It will be required dealership operations. DMS, CRM, CDP. What does the CDP do? Effectively a warehouse where there's a single record for every customer that gets updated from all of the touchpoints that the consumer engages with with the dealer. So this single customer view could be pushed into marketing or in the bigger win for dealer groups on customer experience, loyalty and LTV will be personalized communications. This piece of software is being sold under different names with different scope. We'll talk about this, but I would say most of the top 50 dealer groups in the country, if not, have already started this project, are evaluating scoping this project or built something years ago that sucks today and they're regretting it and they're trying to figure out how to pivot. A CDP is partnered with an MAP just because you need more acronyms today, right? Like let me go out to Indianapolis and pick up a few more acronyms that I can impress the people at your 20 group. CDP's job are those first four. The marketing automation platform is taking that single source of truth, that audience data where each customer is and pushing them into a marketing campaign. There are some companies that do both. I would suggest that for the largest dealer groups in the country, they're realizing they have to pick a company that specializes in this because most anybody can do that. The companies that are trying to do all oftentimes limit the larger dealer groups. A company who does all for a one store group or a three store group or a five store group probably will not hold back that organization. There's a lot of people in the game today. The largest companies on the left: Tealium, Treasure Data, Segment and such. Salesforce. You should know these companies are primarily a CDP. Their only function is to unify customer records and then update that customer record from many different sources. The companies in here basically do both. Many of these listed are automotive specific, although some do work outside of automotive. It's these companies that are very difficult for the small dealer, mid-sized dealer to determine who's telling the truth, who has the best platform for me to grow into, and who's going to be my best partner. The key here, and you should understand this, it's similar to the question about a DMS, is that the partner that I pick needs to be able to keep up with the growing needs of the industry and to give me the best opportunity to maximize my first party data. So when you hear first party data, I want you to think about this. Unfortunately, and I've written about this, unfortunately, most dealers look at their DMS and they know there's gold in there, but they don't know what to do with it. They know their DMS data is inaccurate and outdated, yet they know every month people are pulling data out of that DMS and marketing to people who no longer own the car. It's replicated over and over again to well, we create a bad customer experience. These companies are trying to solve that problem. When you think about a new piece of software and I am not overexaggerating or overzealous that the largest dealer groups will, if they were honest with you, say the most significant advancement in their past year or two or for the next two or three years will be the value that their CDP brings. I'm working with a Reynolds customer now. They're north of 50 stores. I'm suggesting that CDP will go live in January. There'll be a minimum $10 million savings by year two over $20 million in revenue gen and savings. It's not an insignificant number. So what's the value engineering? One of the companies, the bigger companies, Treasure Data, put together 21 use cases, and these are some use cases that you would obviously understand knowing the propensity to buy, equity mining, what's the next best action? That's very important. DMS and CRM does not do that. Streamline communication and such. Improving the call center experience. This is a big one, and it's so big that the heavens are opening up and raining on this idea. It's so big. I don't know about you. I'm a Marriott traveler. When I go up to the check in and I'm Ambassador Elite, which means I have no really home life. And so it's, "Mr. Pasch, thank you for being an ambassador elite member. And would you like your two bottles of water in it?" Even though it's stupid water, you're like, yes, I want that water and that thousand points, which in today's points really means nothing. But here's what they did. The person at the desk recognized my loyalty. When somebody calls into your call center, do you recognize who they are? Do you say, Hey, Mr. Pasch? Hey, thanks for calling the service line. But before we get to your question, I just want to thank you for being a loyal customer for the last seven years. I see you've bought multiple cars. The current car that you have with us is this. Are you calling about that car? What are you doing to change the experience? Well, it only can happen if there's a single source of truth that's current, accurate, and reflects the customer's preferences. There's also data privacy issues. I think, unfortunately, 2024 will be the year of lawsuits on some of the GLBA and FTC rulings. Some of you should know this. That every time you dump data out of your CRM or DMS and email that file to your agency. Every single person in there is something like, I don't know, like a over a $10,000 fine per row in that email. You're not allowed to send that information unencrypted at rest. Yet, man, how many people have our customer data? We did a mailing, we sent them the DMS file. We just pushed it over to them. Here's our DMS file. Even the way we get leads has to change. Meaning many of you know that in your CRM a lead comes through an email from Cars.com or AutoTrader, typically through an email listener report. In many cases that email is unencrypted. Data privacy. Wouldn't it be cool? Instead of pushing out your lists, you just send an encrypted stream of customer data to Google and Facebook, your email marketing company, your direct mail company. You're not sending any list. You're sending them a connection to an audience of who you want to market to for that campaign. Very interesting. I want you to think about this. A Canadian guy, Jeff Williams, came and spoke at one of my conferences. I run two conferences a year. The next one's coming up in November in Palm Beach. And he did a presentation to a group of the largest dealer groups in the country, and he talked about portfolio management. And I've been working with dealers for 18 years. People talk about their DMS like, that's the DMS. What do you do with a DMS? You know, it's like QuickBooks for the dealership, the DMS. Okay. Well, what are you doing to increase loyalty or lifetime value? Well, we hired this company. They're doing this mailing, they're doing this email. We have this little gimmick card or what? Okay, so how are you managing that? We're not. But we all have hopefully maybe some stock portfolios or bond portfolios, and we have these portfolios that either we manage or someone else manages because we hope over time the portfolio will grow. The CRM wasn't meant for portfolio management. A DMS wasn't made for portfolio management. But if I could know exactly where my customer lives, their best email address, their best phone number, the best way to contact them, who else lives in that home, what other vehicles they have in that home, when was the last time they texted, email or called? Huh. I could really start to do some interesting things to elevate the customer experience that would have an impact on loyalty and lifetime value. So these use cases that I'm giving you are not pie in the sky. I am not making anything up. This is what's happening today where the largest dealer groups are saying, "I am tired of seeing," some of you who are dealers in this room, just follow along, "Brian, I'm tired of seeing 30, 40, 50,000 people a month come to my dealer website and I get 400 leads. What were those other people doing on my website? Who were they? How could I market to them? A CDP answers some of those questions. Dealers would love to know in a dealer group, especially a dealer group has multiple stores in the same market, when is a customer from a Honda store jumping on to my Chevy store and starting to shop. Now, is there politics there? Oh, there's politics. Does the Honda dealer, since that's their current customer get notified that, hey your customer's defecting? Or does the Chevy dealer get notified, hey an existing customer in our group, they own a Honda. They're a customer at our Honda store's now shopping and we know who they are. Interesting dynamics. I want you to think of the four C's. How do we elevate the customer experience? A CDP allows us through what I call the four C's. Personalized communication. We know who they are, what they own, what their preferred communication channel is, and that allows me not to spray and pray, but actually do personal communications at scale. Cadence. And this is the hidden crime in automotive retail is that dealers have no control of the cadence. With a CDP, we can control across sales, service, parts, recall, equity, the pace in which communications--because listen, we, the dealer, owns the customer data and it's being updated every day and they can set business rules. If we just emailed the customer yesterday on an equity offer, do not email them again for X days. Controlling cadence. Consistency. You don't know if your data is being used properly. You do not know if it's being hygienically modified, positively or negatively. You don't know the tone of the communications and surely you don't know, as I mentioned earlier, the cadence. Consistent delivery of a message can be controlled if there's a simple way to control source. And last, compliance. I don't have to tell you about do not call or do not text or opting out for emails. It's very difficult in the diagram that I showed you when you have 12 different companies with a piece of the customer record to coordinate a single opt out for a person, or we have all had these hot customers, you may even want to say, I don't want anybody from my group ever contacting this customer. Good luck trying to figure that suppression out. And then some cool things which are just coming to market really now is when somebody comes to your website, and this is just a mock up. Why not have the Marriott experience when someone comes to the dealer's website to actually recognize something they did recently or to remind them of an upcoming service? There are some companies that are trying to do this and some have been successful. The only way to do it, though, effectively at scale, is to have a central source of data. Cross shopping activities is super important today because of inventory levels. Some people, I'm sure you know this, have been loyal to a brand until COVID. And when that brand couldn't supply them with a vehicle, they defected. Sometimes that defection happened inside the dealer group. Sometimes it happened outside the dealer group. Depending on your level of identity resolution here's what I can tell you. When your existing customers are shopping on your website or any group website, that's level one. Level two, I can decode a percentage of the anonymous shoppers, even if they've never done business with you. I can tell you about 50% of those people who they are. People who claim 70 or 80% are stretching a little bit. But about, hey, if you get 40,000 people to your website a month, I can tell who 20,000 were. Now, anybody who's running dealership operations, that sounds like the Holy Grail. And it is a huge differentiator. Level three. I can tell you when your customers are out shopping on your competitors sites. Level one, Level two, Level three give you different insights into cross-shopping. How do we know who someone is if they don't submit a lead form? Just because they're in the DMS or CRM, how do we connect their online activity? For example, here's just a typical website, a little mock up. I don't care what tools you have on your website, you could have every tool known to man. Those people who come to your website, dealers are very focused on leads, and I understand why because they want to chase customers. They don't want to serve them. That's really not what dealers think, but. I mean, they have people sitting in the showroom right there that could help a customer when on their website, they're like, "Hell, no. That would force me to change the way I do business. I would rather disappoint them, make them fill out a form because I'm not going to give them any information, and then I'm going to hound the sh** out of them for the first five days because I hired Sean Bradley to teach me, you know, five phone calls a day and five emails a week," and you're like, "No, Brian, that's not it. We would help them. They should just call." What if they didn't want to call? Regardless of what tools you have on your website, most dealers are focused on disappoint and chase. And when that happens, 2%, only 2% of the total visitors to the website will convert into a lead form. That's 2%. That's national. Websites normally convert less than 1% and you probably get another 1% from your digital retailing tools. With identity resolution in place, things can change. Why? Because each one of us in this room has an identity graph built by different companies. So TransUnion recently bought Neustar, Neustar is an identity resolution company. Acxiom has their own identity graph. There's a number of people who've built this and that allow you to decode someone based on data like your device ID or your IP address or a combination of things. With identity resolution, the 2% still happens. But when you add level one, you could get another 5 to 15% additional context. This is the most safest, easy for dealers to understand, is that if one of my customers in the CRM or DMS come back to my website, I want to know who they are, meaning name, address, email, phone number. I mean, I could call them up and say, not in a creepy way, "Hey, I saw you were shopping for a Chevy." No. Just like, "Hey, this is Brian. Saw you submitted a lead. Just wanted to see if you're still in the market. Want to be there to help." Now you know they are on your website. You know exactly what they were doing, but you don't creep them out. That's level one. And how does that work? They--after the identity resolution is on the website, they have to either fill out a form once or they have to open an email that you send them once. That's level one identity resolution, because now you're connecting the email address with the online identity resolution. What is level two? Level two would get you another 30 to 50% of that traffic. Bryan I get 20,000 people to my website and I get 400 leads. I would say, okay, would you like to know the name, address, phone numbers of 10,000? You would say, Hell yeah, I would want that. That's level two. And this is by comparing the data of people who are visiting the website based on cookies. Some cookies still exist. Device ID, IP address or other stitching. So they call that probabilistic matching. When someone fills out a form, it's deterministic matching. And then number three is--takes it one step further. I'm going to tell you when your customers in the DMS are out shopping for a car. They can be on Cars.com, AutoTrader, they could be at your competitors. I'm going to know when your customers are out shopping elsewhere. These three levels of identity resolution help to feed the CDP with actionable insights. So are we talking about a breakthrough? We really are. The unification of customer data isn't a new conversation. We just didn't have a platform to do it. But the activation, how do we take that data and turn it into dollars is what CDPs are doing. The QR code, if you came in late there it is again, if you scan the QR code, you can read about this growing momentum in the software space. It will be the third leg of the stool: customer data platforms, the DMS, the CRM, and the CDP. What are some of the current challenges for this type of technology? The hardest thing is that dealers don't normally have someone on their staff that can navigate the vendor selection process. The group I'm mentioning, a Reynolds customer that I'm working with, one of the fastest growing dealer groups in the country, they're extremely successful. But when I came to them because I had consulted with them on different times, I said, Guys, the way you're growing, you need to look at a CDP. And they're like, We have no idea where to look. I'm like, Great, let me let me help you through. We narrowed down to three vendors, three vendors presented. We picked a vendor in August and we're now in the process of importing the Reynolds data into the DMS, I mean into the CDP, eLeads data into the CDP, their call tracking into the CDP and getting ready for our first set of use cases. But honestly, even the dealer groups that I work with which have some of the smartest marketing minds, no one has really had experience with a massive consolidation of data unification and strategy. There's a lot of terms out there. When I did my research report, you know, there's always haters, do you know that, in life. You know, you could do anything and someone--there's someone, it'd be like, "Pasch, why are you writing about CDPs? What the hell do you know about that?" I'm like, I'm learning a lot about it. Here's what I know. No one's helping dealers understand what these are and how to navigate it. "Well, we're the best. Everyone should just use us." I'm like, of course that's what you're gonna say. So when I started to do CDPs, honestly, within weeks after this someone came out and was like, "Oh, we're not a CDP, we're a CDEP." Like, what's that? Customer data engagement platform. Because it's not good just to have all the data in one place. You have to engage them. I'm like, no sh**. That's what a CDP does. "No, no, we're not a CDP. We're a CDXP. We're a customer data experience platform." Well, what is that? "Well, we create better experiences for the customer because we've unified their data." I'm like no sh**. That's what a CDP does. Why are they doing that? Because they don't want to be compared to someone else. They want to go into a dealer and say we're the only CDXP. We're focused on experience. But there's all sorts of new terms like what's a clean room? You'll see if you've been watching on LinkedIn, some of the big data houses are starting to talk about clean rooms, clean rooms, clean rooms. A clean room is when you don't--two parties don't trust each other, but they want to share data. There has to be an independent middle, like almost like a mediator to say, hey, I'll make sure that your data isn't shared in an improper way. Clean rooms. So, what are the challenges? The challenge is how do I determine from all my vendors what's the order that I should be thinking about bringing my data in? There is a logical thought process that has to go in. What is the most important for my initial business use cases? And it actually is just a skill that is evolving. Meaning, I'm with this very big project. There's some things that I never really thought of. But now that I've gone through and I was like, Wow, I got to write that down because this is something I have to teach dealers about. The other question is, is who can connect to the CDP? It's odd that in 2023 there are many companies that don't have a secure way in which they can communicate with the CDP, because remember, when you centralize and have a single view of every customer, every time they call, every time they texted, every time they showed up, every transaction. Then you want to make sure that the only people who have access to the data are those people who can access it securely. And some companies don't have what we call an API or application program interface to connect in. And then the other question and challenges is what does the structure of all this look like? I don't know if any of you have played around with Salesforce CRM, but you should know that Salesforce CRM when you buy it, is a complete blank box pretty much. It's not inexpensive and you do not buy Salesforce CRM and turn it on. You actually hire a Salesforce consultant and programming team to actually build out what you want to do in the CRM. It's a very lengthy and expensive process. Same thing with CDPs. They weren't built for automotive retail at tier three. Some of the largest CDPs have experience at tier one. And they'll tell you, Hey, we work with Subaru or we work with Toyota, or we work with, you know, go down the list. Oh, how many big dealer groups have you done? We're working on them now. So one of the biggest challenges, because I come from a data background, was very simple What are the data structures that we need? Meaning what data do we need from the DMS? What data do we need from the CRM? What data do we need from the phone, the chat, the texting companies? What data do we need to make our business use cases successful? So I've been talking about CDP in a very abstract way. So some of you are visual learners. So let me just kind of do what I call napkin math to help you understand this. We have all these vendors. Remember I told you there's over 12 different data points and I didn't even talk about service schedulers. But I want you to think in the cloud there is a data lake which would basically be a place where you can load up data or a CDP that is in the cloud. And what you would want to be doing is saying, okay, every time a customer comes to my website and the identity resolution software says, Oh, I think I know who this person is or I know their device ID, I'm going to put that in a table. Every time a lead comes in the CRM, those go into this data lake. Hey, Cars.com, AutoTrader sends me leads, and what I keep on doing is I build a connector so that all of the communication channels that I'm doing engagement with the consumer are in the CDP, including a do not call or a national change of address or what F&I packages they were sold. The idea is that once all of these people are on place, we can run a daily process to create an updated customer data record. Now for this big project I'm working on, are we doing 15 data sources at once? No. It doesn't--the business use cases don't need that initially. So what are we starting with? I mentioned we're bringing in DMS data daily, CRM data daily. Every single phone call daily. What will come next? Some of the things that--oh, and every visitor to the website. And so really four data streams. What will we bring in soon? Obviously those other touchpoints, like every chat that comes in or every DR deal that we can make some sense out of. The biggest problem today, and this is the third part, the challenges, is that many of the CDPs on the marketplace that are trying to help single point stores, three or five point stores, ten point stores, instead of building connectors from each of these original sources, they're just bringing in the CRM and the DMS. And the problems, as we know, any dealer in this room will know that the CRM is a cesspool of data because salespeople will manipulate the data to work their pay plans. And Foureyes did a really interesting study about how many phone ups that were actually people who wanted to buy a car were not put into the CRM because of pay plans. Because if you're compensating salespeople on their closing percentages, they will work their pay plan, which includes not including any customer in the CRM that may not show up. The ideal picture is the one I showed earlier. Eventually, this is where we're starting. That's what I'm recommending. That dealer groups start with and then adding in. All right, let's add in the phone. Let's add in texting. Let's add in other data that can help us update the single customer view to have more effective communications and marketing. So don't trust the CRM as the consolidation of customer data. Bring in the CRM as another data point. It sounds very small, but it's not. Because right now the CRM has a different purpose. The CRM's goal is not to create a unified customer record. It's to help your team get someone to show up at the dealership. And that's why it's a cesspool of data. What's your strategic plan? If you're fascinated, if you're starting to realize that, hey, yeah, my DMS, rock solid. My CRM, love it. But you're right, Brian, I'm exporting data, my CRM, DMS. I'm pushing it out to companies. I have no idea what data hygiene they're doing. I have no control of the cadence. I know people are in my DMS that no longer own those cars. I have no way of validating that easy. And even if I sent my database out, my master is never going to get updated. The DMS is not going to be back dated or back updated. I really need a place to control my valuable first party data. That's a CDP. You just need to know what's on the market. And I tried to simplify the confusion. It's not easy. Let's just refresh on what the CDP's job--and by the way, very important. A CDP is not a transactional log of financial data. It's not--the CDP will never ever replace the DMS. It's not its function and it will never, ever replace the CRM. It has a completely different function. Its function is to collect the data from the different vendors that are touching the consumer. And then link all of this data, normalize it to a unified customer record, which could also mean adding who else is in the household, what other cars are in that household, what their demographic data is like. And then once you have this beautiful, simplified model of each customer, you could start creating audiences and you--some of you may calling customer segments, Hey, who are the people who are coming up from a lease and are in equity? How many people have not been in the service drive for nine months? How many people were shopping for a truck on some other dealer's website that are customers of ours as a truck owner? These are all different segments. Then the two most important things is to understand you can't say a CDP is just for marketing. You would miss 50% of the use cases. The CDP is the best source of personalized communication and also the cleanest list for marketing. There's two different purposes between communication and marketing. And since this is the truth, thunder is coming from above. Three different models for large dealer groups. I would say 20 stores and above. You would most likely want to pick a clean CDP, someone whose only job is to unify and activate the data or prepare the data for activation. Don't get into the politics of who's doing the marketing. Let the dealer pick any OEM co-op marketing company they want or do it in-house. The second, and this is for smaller dealers, is I want one company that does it all. They don't want people integrating with their data. They want to do it all. And then the third, where I think most dealers will settle on in the 1 to 20 store, will be somebody who does a CDP and some marketing, but allows the dealer to pick which things that company does and which things that they do themselves. And by the way, you will have access to the deck that I presented. So just ask your Reynolds team for that. The real question is, is how do you pick which of these companies will be the one that you want to stay in bed with for many, many, many years? Obviously, it comes down to some basic things like relationships, trust, openness, future vision and roadmap. But it is a growing area that I'm teaching dealers how to consider. One of the eye opening things for this dealer group we pick one of their stores, dumped their historical data from Reynolds, and we found out that 50% of the cars that were represented in those transactions in the DMS were no longer owned by those customers. So now you understand. Holy cow, Brian, How do I know that my service marketing company who gets paid on volume, is really doing DMS cleanup? If they get paid on volume, do they really care who owns the car? How do I know what people own? Once you come into understanding that the DMS was a transactional historical customer profile based on the data of that day, you can start to understand why CDPs make sense. So the font's a little small, so let's just go through these. So what are the most valuable use cases? How could I make money from this? Well, we already know, like, hey, if you clean up your data, you're sending a lot of less direct mail. Alright Brian, that's not millions and millions of dollars. You're right. What's really cool is somebody might visit your website and you've put them in a list to market to them. And this is what most dealers do. They ship that list out at the beginning of the month. Their agency is spending money all month because that customer was in that list. CDP changes things in a flash. If I'm in an acquisition list and somebody calls the dealership to make a test drive, within 3 seconds, that person is out of the acquisition list. Moved into another workflow, meaning instead of cutting lists and running them for a month, you're actually moving people in the most relative communication journey in real time. How much additional revenue could be generated? I already told you that people are not putting in--I think the number is 8% of all sales opportunities on the phone were not put into the CRM because of pay plans. That's just one area. But if you have all the touch points of the customers, you're going to see where people dropped off. Will the platform scale and achieve our business use cases? Is it open or is it closed? Who's going to help us with implementation and training? Who can we trust to clean our historical data? That's a huge question. What should this data structure look like to support all our business use cases? How will data come securely into the CDP? Who will control access? Which marketing agencies that I'm using would be willing to connect securely so we're never passing flat files again? Hey, based on this CDP, are there some marketing functions we can take in house? For many dealers, the answer is yes. And then how do I maintain data hygiene going forward? These are some of the strategic questions that you need to have for CDPs. This is the future. Today. I'm not going to rattle off the names of dealer groups that I know who have a CDP today, but the number is growing because as I mentioned, for this multi store group over 50 stores, it will be $10 million in 2024, $20 million in 2025. And in today's economic headwinds, floor planning costs going up, loyalty at its lowest, retention and LTV at its lowest. Having something like this can work. There's the QR code again with the CDP research report. I hope you enjoyed this rapid fire walk through the new mandatory software platform that I believe dealer groups will need. They'll start to charge. They'll start writing about it. They'll start sharing in their 20 groups. And the trickle down economy will happen. Are there 15 different companies that have CDP light for small dealers? The quality of those platforms will vary greatly. And I think in 2024 we'll start to see who are the winners.