Regit claims that dealerships using its lead identifying Regit Predict system have experience an uplift in sales of up to 27%.
The software works out the likelihood of when users will be looking to buy or sell their car through a scoring system that starts when people enter their registration into Regit.cars.
Regit claims that since the introduction of the software, “OEM customers have also seen up to a 300% increase in display ad click-through rates".
Thed business also claims to have seen a 65% increase in revenue per user.
Dealers can apply the algorithm to their own data and registration numbers.
Regit’s chief executive Terry Hogan said: “Our work with Peak was born from Regit’s desire to learn more about our customers, to help them boost sales and add value to the existing services we offer.
“As everyone knows, our industry is becoming more and more data-driven, and for us to be an effective partner for OEMs and dealers, we needed to create a sales funnel prediction model that really works.
“We are very proud of the fact that we are the first to develop this type of intelligent prediction and introducing it to the market has helped towards our business goal of improving the efficiency of the automotive sector for ad agencies, dealers and OEMs, and in turn, consumers.
“The simplicity of our software also means trade partners are benefiting from the insights without needing to have relevant expertise, whilst we ensure privacy by providing anonymisation to comply with relevant regulations.”