LAS VEGAS, Feb. 14, 2020 /PRNewswire/ -- Equifax
Inc. (NYSE: EFX) and V12 announced a strategic relationship to
deliver powerful digital marketing solutions to the automotive
industry during the National Automobile Dealers Association (NADA)
Show today in Las Vegas. This
relationship combines anonymized Equifax customer economic data,
based on direct measured sources, with V12 vehicle insights.
Available through Equifax Automotive, the solution is designed to
drive customer acquisition by matching the right car with the right
buyer through a personalized shopping experience. The insight that
comes from knowing what the consumer is currently driving helps
automotive retailers maximize their digital marketing budgets.
Industry analysts have predicted that digital advertising
spending by the U.S. automotive industry will reach $14.1 billion in 2020, up from $11.3 billion in 2018, and a Compound Annual
Growth Rate (CAGR) increase of 13.7% from 2014 ($6.1 billion). Driving this increase are the
millions of car and truck shoppers conducting early-stage research
for their next vehicle online.
"Car shoppers want a simple, personalized car buying experience
where they can seamlessly move from online to the dealership
at any point in the journey," said Byron
McDuffee, automotive general manager at Equifax. "Equifax
and V12 are helping automotive marketers meet the needs of their
dealers and provide consumers with the right information during
their online car shopping research phase. This includes helping to
identify the vehicles that meet each shopper's needs as well as
their budget. Smarter understanding enables smarter actions.
Enabling more personalized information up front helps dealers
maximize their marketing spend and creates a better shopping
experience overall."
Equifax consumer economic solutions help brands to identify the
likely financial and economic characteristics of customers and
prospects. Insights into estimated household income, spending and
credit, buying behaviors and product preferences help in the
development of more targeted online marketing campaigns and in the
creation of better overall customer experiences.
The Equifax relationship with V12 enhances the targeted
marketing process for the automotive industry by combining
anonymized Equifax consumer economic information with V12 data on
180 million VIN sources across all 50 states. V12 information is
fully populated with make, model and year, and other details
including engine size, fuel type, drive train, engine block, and
engine cylinders. The breadth of auto data enables more granular
personalization that allows for the right vehicle to be presented
to the right consumer.
"Bringing Equifax consumer insights and V12 vehicle insights
together in a single solution creates a powerful opportunity for
OEMs, agencies, dealers and lenders to more meaningfully interact
with car shoppers throughout their digital journey," said
Andy Frawley, CEO of V12. "We are
helping dealers better understand the specific behaviors and
preferences of potential customers. This creates a shopping
environment that best reaches the consumers most likely to purchase
specific vehicle types, such as luxury, foreign, family, and
eco-friendly automobiles. It also provides anonymized information
on shoppers' likely economic capacity and interest in auto
loans."
To learn more about the full suite of Equifax Automotive digital
retailing solutions, please visit:
https://www.equifax.com/business/automotive/.
ABOUT EQUIFAX INC.
Equifax is a global data,
analytics, and technology company and believes knowledge drives
progress. The Company blends unique data, analytics, and technology
with a passion for serving customers globally, to create insights
that power decisions to move people forward. Headquartered
in Atlanta, Equifax operates or has investments in 24
countries in North America, Central and South
America, Europe, and the Asia Pacific region.
It is a member of Standard & Poor's (S&P) 500® Index, and
its common stock is traded on the New York Stock Exchange (NYSE)
under the symbol EFX. Equifax employs approximately 11,000
employees worldwide. For more information,
visit Equifax.com and follow the company's news
on Twitter and LinkedIn.
ABOUT V12
V12 is the leader driving business outcomes
through data, technology, and marketing solutions. The company's
broad data offerings feature a range of foundational and consumer
intent data, highlighted by V12 AutoID, the leading VIN to consumer
solution, and V12 Signals, which harnesses consumer behavior to
deliver highly predictive consumer intent insights. V12's solutions
are powered by V12 Velocity, the top of market CDP that links first
and third party data, powerful analytics, and customer journey
management into a seamless retention, upsell and acquisition
platform. For more information, visit v12data.com.
FOR MORE INFORMATION
Kate
Walker for Equifax USIS
404-885-8058
MediaInquiries@equifax.com
Larisa Bedgood for V12
813-960-7800
lbedgood@v12data.com
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SOURCE Equifax Inc.