Pearl Technology Holdings announced it has expanded its relationship with Experian to integrate its propensity scoring platform, designed to target consumers who have the highest propensity to make a purchase or lease a vehicle within a particular period of time.
Pearl now has the capability to calculate more than 1,000 elements when scoring a consumer’s propensity to buy or lease.
“We are simply thrilled to expand our relationship with Experian. We contemplated building our own scoring methodology, but ultimately there is no better data or analytic interpreter than Experian,” Pearl chief executive officer and founder Bruce Thompson said in a news release.
“Understanding what consumers are likely to purchase or lease, as well as when, is what it’s all about. Overlaying our existing technology on top of 240 million pre-screened records allows our clients to win big with much less investment. No more wasted advertising dollars with a shotgun approach. This new integrated platform gives Pearl one of the most powerful and accurate vehicle marketing system in the industry,” he continued.
Additionally, the newly enhanced platform enables Pearl to help dealers identify and market to pre-owned buyers, who amount to the largest segment of buyers, according to the company.
“We’re excited to continue our work with the Pearl team,” said John Gray, Experian automotive business unit president. “Understanding the current market landscape and when a consumer is in the market to buy is critical for automotive dealers and OEMs alike. With these insights available, dealers will be able to unlock the potential of the data and to uncover new pockets of opportunity, increase profitability and improve the overall consumer experience.”
Pearl’s incentive-based marketing platform VehicleXchange evaluates nearly 50,000 Experian consumer pre-screens per day for dealer and OEM clients.