DealerSocket’s RevenueRadar program is slated to start pilot testing in select Canadian dealerships in November ahead of a full rollout in late 2014 or early 2015.
The database-mining tool has been a hit for the CRM company in the U.S. over the past year. Sam Rizek, director of sales, business development for Canada, says the tool can drive just as much profit into Canadian dealerships.
“Being in sales, it is amazing to have clients come to me asking for the product as opposed to the other way around,” he says. “This is what it’s been like with RevenueRadar.”
The program’s foundation is 11 database queries it calls Radars that identify customers who meet certain criteria during the ownership lifecycle; they include things like service not sold, declined service, lower APR, lease over mileage and sold not serviced.
Rizek says the big three recommended sales Radars identify end of term customers based on the number of weeks to contract termination, equity customers based on whole payoff and trade value and smart payment, which uses manufacturer factory incentives, rates, residuals and serves up opportunities whereby can lower their monthly payment if they upgrade to the new version of their current vehicle in dealer inventory.
RevenueRadar will be available as an integrated add-on to their current CRM offerings and also as a stand-alone system to non DealerSocket CRM customers.
The Radars will scan the DMS database and ping whenever it finds a customer who meets one or more of the 11 profit opportunities.
The ping information is laid out in a dashboard format and opens to a ping detail screen when clicked that shows all of the customer’s information and what type of deals for which they qualify.
There is also a service appointment tab that will alert the team when a customer with pings comes in for service. Identifying customers who are currently waiting in the service drive and engaging them in conversations regarding programs they can take advantage of has paid off at U.S. stores, the company says.
“Having the pings attached to the service customers that are coming to your store that day anyway really provides the sales team and opportunity to convert customers while they wait,” Rizek explains.
DealerSocket says the program works with every major DMS system and is good as both a standalone or as part of the company’s CRM suite.
Though it is slated for pilot testing in November, the only real aspect that requires testing is the automatic payment calculator as financial requirements and standards in Canada vary from the U.S. market.
Dealers who sign up will have to select their ping process and determine how the store would best handle the system. DealerSocket says it recommends either having a dedicated staff member or an internal BDC handle the lead distribution. Other options include divvying up the duties amongst sales staff or outsourcing the entire process to DealerSocket and its call centre.
For those dealers looking to bring it in-house, Rizek says DealerSocket has provided 11 different word tracks based on the Radar that pinged the customer to ensure the contact and message are uniform and consistent.
The program also has several custom email templates to send to customers. Automated email and outbound call follow-up can be personalized based on the ping category.
The pings can also be permission-based, meaning it can be set up to only notify certain staff. He adds that the system also has a mobile application for use on tablets and smartphones.
“Database mining is the easiest way for dealers to increase their bottom line and improve CSI. But it consistently is one of the hardest things to get dealers to do,” he says.
DealerSocket says the results so far in the U.S. have been impressive. Galpin Mazda in Los Angeles noted it sold 26 cars out of 136 prospects in one week while Larry H. Miller Ford Lincoln Sandy in Utah said it was scheduling three to four appointments per day on 30 outbound calls using the phone scripts provided.
Rizek says the company is so serious about the potential of RevenueRadar in Canada it has assembled a custom sales team aimed strictly at the roughly 400 stores here running DealerSocket.
“This is the ultimate program to demonstrate ROI,” he says, “because you can draw a direct line from the ping to any additional sales or service work. And the best part is that you already have this potential profit sitting in your system.”