Tier10, a data-driven advertising agency, has continued to deliver exceptional results for clients by leveraging data in its campaigns. The agency leveraged data from Urban Science, banks, credit unions, and third-party data providers to refine its targeting capabilities and help Honda dealerships boost their off-lease mail strategy.
With the devastation caused by the global COVID-19 pandemic still affecting the automotive industry, businesses in the multi-billion-dollar industry had to reinvent their strategies.
“At Tier10, we appreciate the new norm that’s emerging and enjoy helping our clients pivot,” said Scott Fletcher, Tier10’s co-founder and president.
When Greater Twin Cities Honda Dealers Association (GTCHDA), Northern Ohio Honda Dealers Association (NOHDA), and Maine Honda Dealers Association (MHDA) engaged Tier10, the mission was to increase lease retention and promote Honda sales. With this in mind, a data-driven mail strategy was identified as the go-to solution in 2017. However, there was a problem: a lack of concrete data for more effective targeting.
Lease penetration increased after the recession in 2008; by 2017, the number of customers coming off lease was hitting all-time highs and growing. With a history of data-driven solutions, Tier10 pounced on the opportunity to target and convert customers coming off lease.
With powerful data sources, the agency could get insightful FICO score filtering, registration data, and consumer lease data. This helped the agency narrow down and target customers who were in the market and coming to lease-end.
“With our incredible partnership with Urban Science and other data platforms, we continue to deliver incredible results for our clients in the automotive industry. These Honda dealerships that implemented our data-driven off-lease strategy have exceptional results to show and are better placed in the post-crisis period,” Fletcher added.
The 2020 results of the mail campaigns were outstanding, with the campaign for GTCHDA delivering a 28:1 ROI with a 2.6% conversion rate (CR). The campaign for NOHDA delivered a 23:1 ROI with a 2.4% CR, while the MHDA campaign attained a 15:1 ROI with a 1.5% CR. Read the Urban Science case study to learn more about this campaign.
