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?
Chris K Leslie

I’ve been using revenue radar for a couple of years and it’s been pretty good. Also looked at CDK’s tool in the past and that was pretty good as well. 

Vince Rubino

Lance is right.  There are so many great equity/data mining programs out there.  However, their success hinges on who the dealership assign to run the program.  You get very mixed results when you assign the salespeople to do the work.  Some people simply aren't very good on the phone and the best salespeople will often times "cherry pick" what they believe are the best leads that are assigned to them and end up completely missing your best opportunities.

BDC's give you the greatest chance of success, but they too can get overwhelmed with handling inbound calls, lease turn ins, safety recalls, etc.  This oftentimes results in only a fraction of the opportunities to get touched.

Take a look at www.totalloop.com.  Totalloop offers DealerIQ,  a comprehensive data mining program that includes a professional Virtual BDC that does all the necessary calls for you and then delivers customers that have expressed a genuine interest in trading out of their vehicles to your dealership by both email and pushed directly into your existing CRM.  DealerIQ is 100% performance based so you pay at the end of the month AFTER the program has delivered quantifiable results.

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