VP of Product - automotiveMastermind - Predictive Analytics and Marketing Automation SoftwareIHS Inc - New York City, NY
About IHS Markit
IHS Markit harnesses deep sources of information, analytics and expertise to forge solutions for the industries and markets that drive global economies. Our company partners with clients in business, finance and government to provide the unrivaled insights and perspectives that lead to well-informed, confident decisions. We call this The New Intelligence. IHS Markit serves more than 50,000 key customers in more than 140 countries, including 80 percent of the Fortune Global 500. We help decision makers apply higher-level thinking to daily tasks and strategic issues across a host of industries and disciplines including energy, finance, automotive, engineering, technology, maritime and trade, aerospace and defense, chemical, and economics and country risk.
Headquartered in London, IHS Markit (Nasdaq: INFO) is committed to sustainable, profitable growth.
September 26, 2017 06:05 AM Eastern Daylight Time
LONDON--(BUSINESS WIRE)--IHS Markit (Nasdaq: INFO), a world leader in information, analytics and solutions, today announced the acquisition of automotiveMastermind Inc., the leading provider of predictive analytics and marketing automation software for the automotive industry.
“The addition of automotiveMastermind extends our capabilities further. It enables us to deliver a powerful set of tools -- including data aggregation and analytics driven by machine learning -- that will help OEMs and dealers sell cars more effectively.”
Founded in 2012, automotiveMastermind currently provides U.S. automotive dealers with behavior prediction analytics software and marketing solutions that improve the vehicle purchase process and results. The company’s cloud-based technology helps dealers precisely predict automobile-buying behavior and automates the creation of micro-targeted customer communications, leading to proven higher sales and more consistent customer retention.
“The acquisition of automotiveMastermind opens up a key new market for IHS Markit, and increases our presence in the vehicle retail space,” said Jerre Stead, chairman and CEO, IHS Markit. “It’s an excellent strategic fit for us within our overall portfolio, and helps to fill out our existing offerings by leveraging predictive analytics to improve the buyer experience. We now deliver unparalleled insight and analytics across the automotive lifecycle: from vehicle strategy and product planning, to vehicle sales, marketing and repair.” http://www.businesswire.com/news/home/20170926005531/en/
The biggest challenge facing the automotive industry today is change - change in demographics, change in demand, change in competition, and even change in the sales force. For the first time, dealers and manufacturers can accurately predict what their clients want, and reduce the uncertainty and volatility of forecasting and sales planning. To succeed they will need to fully understand customer needs and behaviors in order to develop a single view of the customer and thereby build compelling, personalized offers throughout the sale and ownership cycle which are relevant in today’s digital environment.
automotiveMastermind® was founded on the idea that there are patterns in people’s behavior, and that the right logic can be used to predict future outcomes. Working with a respected team of IT professionals with a track record of successfully leveraging Big Data behavioral analytics; automotiveMastermind® set out to revolutionize the way automotive dealerships and manufacturers find, engage and win customers.
The company’s proprietary SaaS solution helps dealerships and sales teams better understand and predict exactly which customers are ready to buy, the reasons why, and the key offers and incentives most likely to close the sale. Its micromarketing engine then delivers the right message at the right time to those customers, ensuring higher conversion rates and a stronger ROI. automotiveMastermind®’s core team consists of high-volume sales experts and executives with an intimate understanding of the complicated automotive sales processes and the unique pain points of dealerships and sales teams. Passionate marketing, financial and technical professionals bring a number of core competencies to the team, including extensive experience building and using CRM systems, executing direct multi-channel marketing campaigns, managing dealership and vendor relations, sales training, and more. Collectively, their hard work and ambition has helped automotiveMastermind® grow by leaps and bounds in a short time and position the company as a major innovator in the industry.
Culture has been, and will continue to be, a critical enabler for automotiveMastermind’s past, current, and future growth. The company thrives on having a highly transparent, entrepreneurial, collaborative, and flat culture that expects employees to take ownership, from day one, and be empowered to solve challenges, both internally and for customers. Incoming members of the senior leadership team will be expected to help the culture evolve to balance growth and transparency and entrepreneurial mindset to ensure the company continues its success while it scales.
PREDICTIVE ANALYTICS Analyze all of your data to predict which customers in your sales and service database are most likely to buy today.
BEHAVIOR ANALYSIS Foster intelligent conversations between your staff and customers by highlighting all of the key sales drivers likely to impact a decision. automotiveMastermind® even analyzes customers’ social media activity to find purchase influencers.
PREDICTIVE RANKING Using our Behavior Prediction Score®, you can quickly rank all sales and service customers based on likely-to-purchase behavior and better focus your efforts.
DIRECT MARKETING WIZARD Our unique micromarketing technology is built around customers’ key sales triggers and has been shown to wildly outperform traditional direct- and email marketing methods.
Current revenues: ~$30M
Investors: Nov 2016 - Strategic growth investment from JMI Equity
Headcount: ~110 growing to 220
Offices: NYC and San Francisco
Job Title: Vice President of Product
Reporting line: CEO
Objective: The VP of Product will be a key member of the senior management team and own the roadmap across all products, while continuing to drive new products resulting in significant revenue growth, increased market share and customer adoption.
*Develop and execute a differentiated product vision, strategy and roadmap for automotiveMastermind’s products. *Recruit and lead and an outstanding team of product managers to drive product definition, prioritization, and feature enhancements, within the context of the corporate strategy. *Lead a team of passionate product managers by providing clear direction, removing obstacles, facilitating cross-functional collaboration. *Manage towards high levels of engagement and passion in the team. *Develop and mentor the team. Determine the design of the organization, strengths and weaknesses, and how to strengthen the team to meet their strategic objectives. *Ensure the continuous delivery of product features and enhancements that deliver on expected growth outcomes. *Continuously refine the product roadmap to ensure meeting of established deadlines and deliverables. *Write clear and detailed specifications for the product and engineering teams. *Prioritize the development of features and eradication of bugs *Evaluate potential product partnerships
*Continually refine the agile development process *Lead organization to step back and think about how products can exceed users’, customers’ expectations. *Meet frequently with customers and partners to develop a deep understanding of their needs *Build effective processes and metrics for success. Facilitate a new disciplined approach and standards for the roadmap and direction of the organization. Establish accountability standards and ensure adherence to them for product development. *Predict and react to major technology changes to ensure the maintenance of company leadership in the competitive landscape. *Understand the trends. See where the world is going, be just far enough ahead to capture the moment of opportunity. Understand our specific products --- architecture, limitations, possibilities *Provide fact-based competitive analysis to insure that offerings provide superior capabilities when compared to the competition, and are more effective than competitors’ products at meeting and anticipating the needs of the customer. *Develop and implement world-class product delivery procedures. *Partner with engineering to establish rapid product development processes with dynamic teams that can accelerate build, design, test and product launches and constant updates. *Translate engineering possibilities into clear customer and business advantage, or provide clarity on why possibility doesn't intersect profitability
Founded in 2012, automotiveMastermind provides predictive analytics and marketing automation software for the automotive industry. The Company’s cloud-based technology helps dealers precisely predict automobile-buying behavior and automates the creation of micro-targeted consumer communications, leading to proven higher sales and more consistent customer retention. automotiveMastermind currently works with hundreds of dealerships from various automotive manufacturers, including Mercedes-Benz, BMW, MINI, Audi, Cadillac, Honda, Lexus, and Acura, and has plans to double that in 2017. The company continues to grow at a record pace, having tripled the number of dealer partners in the last year while maintaining an unprecedented 99% retention rate. automotiveMastermind is headquartered in New York City and San Francisco and has grown its employee count by 200% in the last year. automotiveMastermind was acquired by IHSMarkit in September, 2017.
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