Service/Equity Mining Tools

Brandon McNett
We're currently considering Xtream Services from Reynolds/Naked Lime. What is your current database mining process? How do you convert service to sales leads? Do you utilize any other equity tools? It's quite the monthly spend, but they said that average increase is about 10% per month....which is quite enticing.
Christian Salazar
Auto Alert is the best one out there
Ken Luna
Be sure that which ever one you choose that they can do equity calculations and soft credit pulls on service customers that did NOT buy their vehicle at your store. Auto Alert, Dominion Deal Activator, and eLeads all can do this. Dealer Socket should have this soon as well.
Joe Tareen
Tools are very important but just as critical is the consistency and process at the dealership. Remember that service customers are there to service their vehicles not buy a new one. Make sure the pitch is soft and simply based upon providing customers with options incase they have a need now or in future. Starting with putting a number on their vehicle for purchase works well because it does not get them mentally committed to buying a new car. The equity position is just a trigger and filter to target the right customer and details should never be divulged to the customer. For instance never let them know that the customer has any equity in the car, this will be counter productive and honestly we don't know until we appraise the car and pull the Carfax history. Driving the whole process from used inventory sourcing point of view works well but if your used car manager is lazy and just doesn't buy into the initiative then you will have some challenges. The other challenge you might have is getting sales people to help these customers. Only turn over customers to sales after you have done your due diligence and good luck!.
Jeff Novak
You can use a pre-approach communique that identifies them as part of a group of customers the OEM estimates may be in an "equity position" and even present a generic type of offer. The next step would be someone to confirm their service appointment and to check as a courtesy that they received the communication. Some dealers use KBB and similar cash offer tools to offer targeted customers a purchase offer. Still others have a "vehicle upgrade consultant" that meets with each service customer to alert them to possibilities. Whatever strategy you use Joe makes some very good points. Don't kill the goose that lays the golden service egg. If your service customers feel pressured or harassed (like Randy Marsh at the Whole Foods cashier), they may migrate to a less aggressive dealer. You also want to make sure that whatever plan you have, all key personnel are on board. Nothing is worse than getting together a vehicle purchase offer program, for example, and then have a prima donna used car manager that doesn't wish to participate consistently. --Jeff Novak www.whybuyengagement.com
Jerry Schutt
The dealer group I work for is a Reynolds dealer. We have tried a couple different equity mining tools that have been mentioned. They were good, but we always ran into the problem that our Sales managers or BDC managers were so busy that if they have to mine the leads themselves then a lot of potential leads/sales get over looked. So over time the return started to diminish pretty fast. We switched to Reynolds after a demo and the part that sold us was how much data they can provide us compared to some of the other companies and the fact that all we do is talk to our person 1 time a week and they send us leads daily from service and our campaigns. We sell more on average with this system than we did with the other 3 we tried over the last few years. Our service customers don't mind us approaching them with these offers and we have incorporated the expectation in the sales process, just like a lease pull ahead program. We let them know when the time comes that you are in the best equity position do you mind us reaching out to you and we do that and this has helped us see more conversions. Our Account manager is the one who introduced us to doing this, so I think you should have something. We personally love Xtream from Reynolds and we have also tried 2 of the 3 mentioned above and didn't do nearly as well on those. Also, we ran into an issue where a customer wanted to know how we knew the info on her vehicle since they didn't buy from us and when they found out we did a soft credit pull they got upset and posted horrible reviews everywhere. It wasn't pretty!

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