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DealerSocket's RevenueRadar + CRM Drive Retention for Smithtown Toyota

Smithtown Toyota shares how RevenueRadar's deep integration with DealerSocket's CRM helps them capitalize on prime opportunities to re-engage past customers in the sales process. We believe technology has the power to transform the way that today's customers buy cars, so come see how we're forging the path ahead.

Realize the full potential of your customer database

Your customer relationship and dealer management systems are filled with data points about your customers’ purchase and service habits, communication preferences, and even financial indicators – all of which together can tell you important stories about how and when to interact with them. DealerSocket CRM’s integrated equity mining tool, RevenueRadar makes sense of your customer data, turning insights into actions for your sales and marketing teams.

We believe technology has the power to transform the way that today's customers buy cars, so come see how we're forging the path ahead.

Sign up here to speak with a RevenueRadar expert!

Create the journey
your customers want to take

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RevenueRadar

Great Lakes Honda Increases Gross Profit by 39%

Ohio-based Great Lakes Honda registered a new high in terms of sales and gross profit. Vehicle sales grew by 711 units to a record 4,729 units sold, while total gross profit grew by 39% thanks to a $219.35 year-over-year increase in average front-end gross profit per unit retailed. Sales Manager Ryan Huang is quick to credit DealerSocket CRM’s RevenueRadar data mining tool for the record-setting year


We believe technology has the power to transform the way that today's customers buy cars, so come see how we're forging the path ahead.
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Realize the full potential of your customer database

Your customer relationship and dealer management systems are filled with data points about your customers’ purchase and service habits, communication preferences, and even financial indicators – all of which together can tell you important stories about how and when to interact with them. DealerSocket CRM’s integrated equity mining tool, RevenueRadar makes sense of your customer data, turning insights into actions for your sales and marketing teams.

We believe technology has the power to transform the way that today's customers buy cars, so come see how we're forging the path ahead.

Sign up here to speak with a RevenueRadar expert!

Create the journey
your customers want to take

RevenueRadar logo
RevenueRadar

Converting Service to Sales with RevenueRadar

The Service Tab in DealerSocket’s RevenueRadar data mining tool is a gold mine for new business. In it, you’ll find data that indicates customers who have made an appointment with your service department and have already agreed upon a date and time to have their trade at your store. These are prime opportunities for sales and can be successfully converted – if you approach them strategically.


We believe technology has the power to transform the way that today's customers buy cars, so come see how we're forging the path ahead.
Download Guide

Realize the full potential of your customer database

Your customer relationship and dealer management systems are filled with data points about your customers’ purchase and service habits, communication preferences, and even financial indicators – all of which together can tell you important stories about how and when to interact with them. DealerSocket CRM’s integrated equity mining tool, RevenueRadar makes sense of your customer data, turning insights into actions for your sales and marketing teams.

We believe technology has the power to transform the way that today's customers buy cars, so come see how we're forging the path ahead.

Sign up here to speak with a RevenueRadar expert!

Create the journey
your customers want to take

RevenueRadar logo
RevenueRadar

Realize the full potential of your customer database

Your customer relationship and dealer management systems are filled with data points about your customers’ purchase and service habits, communication preferences, and even financial indicators – all of which together can tell you important stories about how and when to interact with them. DealerSocket CRM’s integrated equity mining tool, RevenueRadar makes sense of your customer data, turning insights into actions for your sales and marketing teams.

Text Content
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RevenueRadar

Re-Engage Past Customers.

 

RevenueRadar's deep integration with DealerSocket's CRM helps you capitalize on prime opportunities to re-engage past customers.

RevenueRadar uses 11 different ways to target your past customers and bring them back to your store, turning insights into actions for your sales and marketing teams.

With automated omni-channel marketing and an equity mining opportunity expert to help guide you, target past customers with a direct mailer and email campaign, set to reach them at the right time, with the right message.

11 Different Ways to Target Your Past Customers and Bring Them Back To Your Store

RevenueRadar combs your database to identify and prioritize viable customer conversations in 11 different sales and service-based categories. For each lead, the platform will serve up a customer profile as well as a buying score so you can tailor your talk tracks for success and get that customer into the store.

Automated Omni-Channel Marketing

RevenueRadar’s Data Mining Marketer feature targets your past customers with a direct mailer and email campaign, set to reach them at the right time, with the right message. All opportunities generated from your Data Mining Marketer campaigns will be greeted by live agents 24/7 trained and ready to get them into your store

Personalized consultation comes with the package

With RevenueRadar, your staff is immediately enhanced to include an equity mining opportunity expert that will guide you on everything from marketing campaigns and sales training opportunities to service drive process and customer communication. Equity mining data displays throughout the DealerSocket CRM.

It’s all customers you’ve done business with in the past so they already trust you. You can pull up all their information back to when they bought the car, see exactly what their paying, what sort of payoff and equity history they have, and the last time they serviced... In one screen you get a snapshot of everything on RevenueRadar.

Andrew Benson

VBDC Sr. Team Lead, Qvale Auto Group

52% increase in profits

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+52%
A complete automotive software solution for your dealership.

Ready to turn insights into action with RevenueRadar?

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McDuffee brings more than two decades of auto industry innovation and helping dealers leverage data and digital technologies in their sales, marketing, and service strategies.

DALLAS, December 21, 2020 — DealerSocket, Inc., a leading SaaS provider to the automotive industry, today announced the appointment of Byron McDuffee as chief operating officer (COO). The 22-year automotive industry veteran will oversee DealerSocket’s operations, customer success and support, corporate development, strategy, vendor management, and analytics teams.

“Byron is an accomplished auto industry leader, and we are excited to welcome him to DealerSocket and our executive team,” said DealerSocket CEO Sejal Pietrzak. “Byron has strong experience in leading global teams, creating successful growth strategies, optimizing processes, and driving analytics. He has a dealer-first customer service approach and a keen focus on building a strong company culture and positive employee engagement, all of which aligns with DealerSocket’s priorities. I am thrilled that he has joined us, and he is already making a significant positive impact to our company.”

McDuffee previously served as senior vice president and general manager of Automotive Services at Equifax, where he led and managed all aspects of the automotive business. McDuffee also served in a variety of leadership roles at CDK Global, including general management responsibilities and as the head of the company’s global strategy and corporate ventures group.

“I’m excited to join DealerSocket, an organization whose goals are so closely aligned with my experience and passion for this great industry,” said McDuffee. “DealerSocket has made significant strides in helping dealers leverage data and product innovation to define the customer journey, increase buyer satisfaction, and maximize dealership profit potential. The acquisition of Auto/Mate elevates the company’s market position even more, giving dealers a much-needed new choice in the full platform-provider space.”

McDuffee, who will relocate from Illinois to DealerSocket’s Dallas headquarters in 2021, officially joined DealerSocket in November.

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RevenueRadar

The automotive CRM technology that supercharges your dealership

Accelerate sales and marketing, increase efficiency, and sell more vehicles in your automotive dealership. With DealerSocket CRM’s automotive industry-leading software and proven track record, you can meet and exceed every need across sales, marketing, service, and senior leadership. Seamlessly manage the customer relationship, connect across all devices and departments, and maximize sales and profitability.

Speak with an expert

Personalized consultation comes with the package

With RevenueRadar, your staff is immediately enhanced to include an equity mining opportunity expert that will guide you on everything from marketing campaigns and sales training opportunities to service drive process and customer communication. Equity mining data displays throughout the DealerSocket CRM.

It’s all customers you’ve done business with in the past so they already trust you. You can pull up all their information back to when they bought the car, see exactly what their paying, what sort of payoff and equity history they have, and the last time they serviced... In one screen you get a snapshot of everything on RevenueRadar.

Andrew Benson

VBDC Sr. Team Lead, Qvale Auto Group

Re-Engage Past Customers

RevenueRadar's deep integration with DealerSocket's CRM helps you capitalize on prime opportunities to re-engage past customers.

RevenueRadar uses 11 different ways to target your past customers and bring them back to your store, turning insights into actions for your sales and marketing teams.

With automated omni-channel marketing and an equity mining opportunity expert to help guide you, target past customers with a direct mailer and email campaign, set to reach them at the right time, with the right message.

Take your dealership to the next level!

11 Different Ways to Target Your Past Customers and Bring Them Back To Your Store

RevenueRadar combs your database to identify and prioritize viable customer conversations in 11 different sales and service-based categories. For each lead, the platform will serve up a customer profile as well as a buying score so you can tailor your talk tracks for success and get that customer into the store.

Automated Omni-Channel Marketing

RevenueRadar’s Data Mining Marketer feature targets your past customers with a direct mailer and email campaign, set to reach them at the right time, with the right message. All opportunities generated from your Data Mining Marketer campaigns will be greeted by live agents 24/7 trained and ready to get them into your store
RevenueRadar logo
RevenueRadar

The automotive CRM technology that supercharges your dealership

Accelerate sales and marketing, increase efficiency, and sell more vehicles in your automotive dealership. With DealerSocket CRM’s automotive industry-leading software and proven track record, you can meet and exceed every need across sales, marketing, service, and senior leadership. Seamlessly manage the customer relationship, connect across all devices and departments, and maximize sales and profitability.

Speak with an expert

Personalized consultation comes with the package

With RevenueRadar, your staff is immediately enhanced to include an equity mining opportunity expert that will guide you on everything from marketing campaigns and sales training opportunities to service drive process and customer communication. Equity mining data displays throughout the DealerSocket CRM.

It’s all customers you’ve done business with in the past so they already trust you. You can pull up all their information back to when they bought the car, see exactly what their paying, what sort of payoff and equity history they have, and the last time they serviced... In one screen you get a snapshot of everything on RevenueRadar.

Andrew Benson

VBDC Sr. Team Lead, Qvale Auto Group

Re-Engage Past Customers

RevenueRadar's deep integration with DealerSocket's CRM helps you capitalize on prime opportunities to re-engage past customers.

RevenueRadar uses 11 different ways to target your past customers and bring them back to your store, turning insights into actions for your sales and marketing teams.

With automated omni-channel marketing and an equity mining opportunity expert to help guide you, target past customers with a direct mailer and email campaign, set to reach them at the right time, with the right message.

Take your dealership to the next level!

11 Different Ways to Target Your Past Customers and Bring Them Back To Your Store

RevenueRadar combs your database to identify and prioritize viable customer conversations in 11 different sales and service-based categories. For each lead, the platform will serve up a customer profile as well as a buying score so you can tailor your talk tracks for success and get that customer into the store.

Automated Omni-Channel Marketing

RevenueRadar’s Data Mining Marketer feature targets your past customers with a direct mailer and email campaign, set to reach them at the right time, with the right message. All opportunities generated from your Data Mining Marketer campaigns will be greeted by live agents 24/7 trained and ready to get them into your store
This webinar has ended. Fill out the form to access the recording. 
 
Session Description: 

The road to ruling automotive sales in your backyard and beyond is a long one, and your dealership's digital marketing strategy plays a pivotal role. With so much of the car--buyer's journey taking place online, it's crucial to be present when and where people are looking. Chances are, you already leverage and integrate digital marketing channels in some way. Let's take that to a whole new level!

Stream Companies Bill Parlaman and DealerSocket's Eric Giroux join forces for this special webinar to share best practices and real-world success stories to help you reach, capture, and convert more traffic. 

Attendees will learn:

  • How to drive more traffic to your website with multi-channel digital marketing strategies
  • Enhancing the on-site experience for your potential customers with digital retailing tools
  • Streamlining the connection with sales to ensure clicks convert to conversations
  • How to measure, and drive bottom line results from your digital marketing tactics
 

About the Presenters:

Bill Parlaman, Chief Marketing Officer, Stream Companies

Bill Parlaman is one of the founding thought leaders in digital marketing and Search Engine Optimization space. Prior to joining Stream, Bill founded his own inbound marketing agency where he helped hundreds of clients maximize their digital marketing efforts for maximum exposure, lead generation, and brand building. As Chief Marketing Officer, Bill has taken that experience into a leadership role at Stream Companies where he leads a team of sales and marketing professionals, foster client relationships, and enjoys partnering with dealers to solve their biggest sales and marketing problems.

 

Eric Giroux, VP, Product Management, DealerSocket

After spending time directing digital marketing for a 12-store automotive group in Kansas, Eric Giroux became one of the early members of the DealerFire team. There, he oversaw relationships with some of the largest automotive groups in the country and helped steer dealer and product strategy. Now, as VP of Product Management at DealerSocket, Eric leads a global team of specialists in building web-based software. Most notably, he served as the lead Product Manager DealerFire's website platform, as well as DealerSocket's digital retailing solution.

A new study reveals a potential starting point for dealers who are just now dipping their toes in the digital waters.

By Gregory Arroyo

I recall a conversation I had with an industry attorney during the early days of digital retailing. Technology vendors believed the Digital Age had arrived, while dealers were saying, “Not so fast.” My question to my attorney friend was, “What’s the holdup?”

He said the problem is dealers aren’t treating digital retailing as an experience — that customers should be rewarded for taking that path to purchase. He suggested that dealerships with separate facilities for fleet sales should consider directing digital buyers there vs. the showroom.

He then relayed his recent experience purchasing his second vehicle from the same dealership. He called the store, explained that he was a willing buyer who simply wanted to update to a newer model, and negotiated the deal over the phone. Expecting the red-carpet treatment for essentially being a rollover, he felt disappointed when he discovered he’d have to wait like the other customers in front of him.

That conversation came to mind when I came across Urban Science’s “Around the Bend: How COVID-19 Impacts the Next Normal for Dealers,” a report based on an online poll of 1,506 adult consumers. It serves as an update to the firm’s August 2019 report, which served as a reality check for digital retailing.

The 2019 study, which included responses from 2,001 consumers, concluded that car buyers weren’t ready to ditch the dealership experience because they still want to kick the tires and take a test-drive. Respondents also said they still needed someone at the dealership to guide them through the process.

I wrote about why I think that represents an opportunity for digital retailing in an April 2020 blog entry, “Digital Retailing’s True Test.” However, I’d like to share an even greater opportunity revealed in this year’s updated study.

See, while the report did show that a majority of consumers still believe buying a car is too big of an investment not to see (81%) or test-drive (79%), it did show that 67% would be more open to buying online if it was a brand or dealership with which they were already familiar.

Again, my convo with my attorney friend came to mind, but so did a discussion I had with a DealerSocket Strategic Growth Manager. He said the main reason some dealers fail to realize the full potential of data mining is because they don’t have a dedicated process. Well, based on that stat from Urban Science, maybe digital retailing represents a missing link.

Take those data-mining campaigns targeting customers approaching the end of their lease or who qualify for smart payment offers. The emails could contain links to a landing page that explains your offer and a link to a streamlined buying process powered by your digital retail tool.

Back in April, another DealerSocket Strategic Growth Manager told me about a Pennsylvania-based dealer group that was rewarded for having a service-drive sales process when the pandemic forced local officials to limit dealers there to appointment-only sales that concluded with service-drive deliveries.

Before the pandemic, the process delivered 100 units a month behind two dedicated salespeople, a sales manager, and an F&I manager, who actually has a dedicated desk (with enough privacy) in the service area. The reason for that is the group wanted that buying experience to feel different and free of pressure.

The group equips the sales team with its inventory management tool’s mobile app (Inventory+) to feed appraisers with scanned VINs and photos of every car that comes into service. The appraisers then prepare a package that includes a vehicle history report, documentation on the vehicle’s going price in the local market, its fair Kelley Blue Book value, a check voucher for an amount over that value, and the salesperson’s business card.

Signage in the service drive lets customers know they can get a free vehicle evaluation by texting a specific number or talking to their service advisor. All customers get an appraisal, but the hand-raisers represent high-value targets the sales team engages.

However, even customers who don’t bite get the appraisal package. They also get enrolled into a CRM-powered campaign that includes email and a phone call — the latter scheduled for the day after the customer’s service visit to ensure satisfaction and to revisit the offer sheet.

I can see three potential opportunities in that process for digital retailing to have an impact. Maybe it’s a kiosk in the service area loaded with a digital retail tool like DealerSocket’s PrecisePrice; perhaps it’s tablets. Whatever the case, digital retail should be a part of those follow-up efforts, whether it’s a link in an email or guiding customers through the process over the phone and emailing a link to their PrecisePrice deal.

And just maybe that buyer’s journey you create in the service drive serves as the entrance for sales opportunities your data-mining efforts generate.

While 93% of respondents to the Urban Science study expressed some concern with an entirely online purchase process, more than two-thirds said they were comfortable shopping online, signing paperwork digitally, and negotiating price and terms via email, chat, or phone.

Recently, the individual leading the digital drive for one of the largest privately-owned dealer groups in the United States addressed DealerSocket employees over a Zoom call. He talked about COVID-19’s impact, inventory shortages, the group’s efforts to build that clicks-to-bricks experience, and how consumers still need to be educated on what digital retailing is. What caught my attention was his response to whether he believed consumers still want the showroom experience.

“Absolutely … Only a small group of individuals want the Carvana model, and we’re going to be there,” he said. “But most customers want to step foot in a brick-and-mortar shop. If they want to get their payment, we’ll do that and meet them in the showroom.

“So, we believe a critical point in that process is that showroom experience,” he added. “You shouldn’t lose a customer who completed things online because you told them it would take 45 minutes, but it takes us three hours.”

This webinar has ended, but you can view the recording below. 

 

Session Description:

Studies show 80% of your revenue actually comes from the top 20% of your customers. It’s also 10x more expensive to acquire a new customer versus retaining an old one. But did you know that your CRM is one of the most powerful tools your dealership has to start retaining and upselling customers right now?

Boosting customer retention just 5% can increase profits by 25-95%. In this webinar, you’ll learn five simple ways to start retaining customers using your CRM’s built-in tools. These are practical tips that you can start implementing immediately, to help your dealership maintain profitability, as business begins to return to normal.

Attend this Automotive News webinar to learn how to:

  • Create a Personalized Data Mining Strategy
  • Optimize Lease Outreach
  • Leverage Texting
  • Bridge Sales and Service
  • Audit Sales Appointment Experience

About the Presenter:

Anthony Mitchell, Sr. Manager, Strategic Growth at DealerSocket, Inc.
Anthony Mitchell’s extensive automotive experience and consultative insights have helped countless dealers make the most of their software investment and sell more cars, more profitably.

In a one-year span, data mining generated $275,000 in gross profit on 106 units for Idaho’s Larry H. Miller Honda Boise. Stephen Smith, the location’s business development and internet manager, chalks it up to a veteran sales team, DealerSocket CRM’s automation and accountability tools, and the ability of the CRM’s RevenueRadar data mining tool to deliver high-value opportunities.

“It starts with having the right strategy, process, and people involved,” says Smith. “My internet/BDC team handles all internet and phone traffic, which allows us to hand RevenueRadar and data mining almost solely to the sales staff.”

"The automation keeps our salespeople motivated because they’ll lose a potential customer if they don't work their RevenueRadar leads.”

Stephen Smith, BDC and Internet Manager

Larry H. Miller Honda Boise

Accountability Through Automation

Smith says "almost" solely to his sales staff because there are a couple of accountability processes and CRM automation steps designed to keep his sales team on-task. For instance, the dealership uses CRM automation that gives salespeople 24 hours to act on a RevenueRadar lead via email, phone, or a SocketTalk text message.

“After 24 hours, my BDC staff gets full permission to reach out to the customer,” Smith says. “If we make contact, we put it under our name and work it. The automation keeps our salespeople motivated because they’ll lose a potential customer if they don't work their RevenueRadar leads.”

To ensure the team isn’t inundated with long-shot opportunities, the dealership pairs RevenueRadar’s lead scoring, which provides each opportunity with weighting based on propensity to buy, with its drip logic, which filters in the highest priority opportunities on a manageable cadence.

“You don’t want to see sales guys with 200 tasks in their bucket. It’s not helping anybody process their leads,” Smith says. “Keeping those cleaned up is important, and RevenueRadar does that very easily.”

“The system is great at identifying who can lower their payment, so you can trust you're getting quality leads. In a lot of cases, RevenueRadar leads are better than Internet leads.”

Stephen Smith, BDC and Internet Manager

Larry H. Miller Honda Boise

Optimized for Success

Together with their DealerSocket Strategic Growth Manager, the dealership optimizes its RevenueRadar leads to improve the sales team's chances. For instance, Smart Payment leads, or customers who can switch to a newer vehicle while lowering their payment, are set up to trigger in RevenueRadar when customers have an APR between 6% and 29% and at least two years of good payment history.

“The system is great at identifying who can lower their payment, so you can trust you're getting quality leads,” Smith says. “In a lot of cases, RevenueRadar leads are better than Internet leads.”

Using RevenueRadar, which is built directly within the CRM, the Larry H. Miller Honda Boise sales team provides a personalized follow up approach based on the customer’s current vehicle and equity position, finance terms, payment and service history, and a keen understanding of current-year models and trim levels. “With all the information the system provides, it becomes a courtesy call," Smith says of the store’s approach. "It’s not a cold call. It’s you giving them a call to provide a needed service.”

To ensure a superior customer experience continues, the dealership relies on the CRM’s automation to send vital customer touchpoints, such as the delivery of reminder emails the day before the appointment. 

“With all the information the system provides, it becomes a courtesy call. It’s not a cold call. It’s you giving them a call to provide a needed service.”

Stephen Smith, BDC and Internet Manager

Larry H. Miller Honda Boise

Data-Driven Engagement

The store employs tailored phone scripts by attaching them to RevenueRadar leads through the connected CRM. These pre-built phone scripts contain word-tracks that guide the opening and closing of a conversation, as well as key questions a salesperson can sprinkle throughout based on the lead type and the customer’s responses. The store’s veteran sales team takes it from there.

"There is a lot of information in those leads, and it’s important they know a few details about the customer’s loan, vehicle of interest, and the vehicle they currently own,” Smith says. “This isn’t a phone book. You have to be prepared, and that preparedness is going to translate into car deals, and, more importantly, into gross.”

Schedule a Demo Now

Learn more about DealerSocket's products and schedule a demo with a representative.

Speak with an expert

The new solution is fundamentally redesigned and re-engineered for a faster, more flexible, and cohesive experience for dealers and their customers.

 

DALLAS, June 22, 2020 — DealerSocket, Inc., a leading SaaS provider to the automotive industry, today crossed another milestone in its drive to improve the clicks-to-bricks experience for dealers with the release of its next-generation Desking solution. Sporting more intuitive, easy-to-navigate workflows designed to prevent errors and reduce time to first pencil, the all-new Desking tool comes equipped with a robust calculations engine, flexible payment options, custom presentation capabilities, and seamlessly integrates with DealerSocket’s PrecisePrice digital retail solution.

The sleek new interface, which has been architected within DealerSocket’s award-winning CRM, gives the new Desking tool a uniform user experience with other DealerSocket solutions. The solution opens up a host of new opportunities to modernize a dealer’s road-to-the-sale process, and enhance save-a-deal and data-mining activities, CRM-generated campaigns, and remote deal-making.

“There are several critical storylines captured in this exciting launch of Desking. For DealerSocket, our next-gen Desking solution represents another critical step as we unify our suite of integrated solutions,” said Darren Harris, executive vice president and general manager of retail solutions at DealerSocket. “Then there’s what the tool can do for dealers from a clicks-to-bricks perspective. Yes, our new Desking solution allows dealers to reimagine their buying journey, but it also puts them in total control of just how far they want to go.”

The main advantage of DealerSocket’s new Desking tool is that it operates within the CRM as an in-app program, allowing dealers to seamlessly move between Desking and throughout the CRM to update a sales opportunity’s vehicle of interest, follow up with appointments, or send communications. That deep integration within DealerSocket’s CRM also means no pop-up windows for Desking and an efficient and easy process that begins with a single click on a sales opportunity to start desking a deal.

Once engaged, the Desking tool displays a calculations worksheet, customer details, and payment options on one screen. The latter views are collapsible when structuring deals using the calculations worksheet, which eliminates the need for mental math with smart fields within Desking that can calculate dollar value increases or decreases in MSRP, selling price, cash down, and rebates.

Users can then compare and present a variety of lease and finance options with different cash-down amounts, term lengths, and APRs, as well as view and adjust other deal influencers like doc fee, buy rate, and gross. Dealers can also take advantage of the following innovations:

“Especially in the digital environment, dealers need a platform that allows data to flow across a single ecosystem, and allows users to easily navigate software tools and features seamlessly,” said Alok Tyagi, DealerSocket’s chief product and technology officer. “Today’s release of our next-generation Desking tool represents another significant step toward delivering a simplified experience to our dealers, who now have a tool that allows them to create new opportunities.”