Cars.com, Inc. said it received a patent from the US Patent and Trademark Office for its Lot Insights technology — a solution that pinpoints mobile shopping data from consumers actively looking for vehicles on dealer lots.
First introduced in 2015, Lot Insights technology identifies mobile consumers on or near dealership lots to provide insights for automotive advertisers.
The patented technology allows for more precise, accurate, location-based consumer data for Cars.com dealer partners.
“While most digital companies are interested in clicks, likes, or impressions, Cars.com is focused on efficiently driving buyers into dealer showrooms,” said Alex Vetter, CEO at Cars.com.
“Mobile data intelligence, like Lot Insights, allows us to analyze those consumer behaviors and directly measure how digital activity impacts sales.
“We have been at the forefront of the mobile revolution in our industry, and this new Lot Insights patent is an example of how Cars.com is leading mobile innovation.”
Using Lot Insights technology, Cars.com created the new On-the-Lot Trends Report by analyzing mobile consumer shopping behavior throughout May to identify the top viewed makes and models by style.
“By mapping and geofencing the perimeter around dealerships with this level of precision, we can better understand today’s shopping trends and behaviors, which is critical to making value-added connections between consumers and dealers,“ said Tony Zolla, Cars.com chief product officer.