Equity Mining Defined

Shawn Ryder
I am doing some research into Equity Mining and simply wondering how do dealers define the term? Is it something that a majority of dealers truly understand as of yet?
David O
Vendors coined the term "equity" mining because who wants to promote and sell "negative" equity mining? The tools are developed to bypass all customers UNLESS they have equity with the sole purpose to sell them a car... So, do we just forget about everyone else? The thing is that we, as dealers, will look at our past customers as potential deals instead of "current" (not past) customers who may have friends looking for a car, willing to service their car, or even as a branding connection... So to answer you question; Yes, dealers understand the term "equity mining" because they are just looking for "equity" customers... BUT the real question is, why are we ONLY connecting with our customers if they are assumed to have equity.
Mark Rask
Good point david.....can you imagine giving a list to a sales person to call named negative equity!
John  Swanson

Shawn, currently going through this process now...looking for a great equity mining (or equity marketing) tool, did you bring a third party on? If so how successful has it been thus far?

Shawn Ryder

Hey John - thanks for the reply... glad to see topics stick around for a while here! I have moved on to the vendor side of the business - hadn't found a great solution at that point - what sort of marketing solution are you looking for?

John  Swanson

Looking for an equity mining and marketing tool similar to that of AutoAlert if you've heard of it. Something that sifts through our database for consumers in keyswap positions

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