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DrivingSales 2015 Innovation Cup Award: Finalists Announced

b79b5614e4d8b9badbac5e165e2c66b6.jpg?t=1VirtualDeal from DealerSuccess selected by auto dealers as Finalist for Most Innovative Dealership Solution to compete at seventh annual DrivingSales Executive Summit

Vancouver WA and Salt Lake City, UT – September 14, 2015 - DrivingSales announced that finalists have been selected for the seventh annual DrivingSales Innovation Cup Award, which recognizes the most innovative dealership solutions of 2015.  Over 60 companies applied for the award, a 50% increase from 2014, but DrivingSales’ panel of dealer judges could choose only five finalists to compete for the award.

Finalists will compete onstage for the Innovation Cup Award at the 2015 DrivingSales Executive Summit (DSES), which will be held Sunday, October 18 through Tuesday, October 20, 2015 at the Bellagio Las Vegas.  The DSES, which has sold out every year since inception, is unique in the industry because auto dealers determine the speakers and agenda. Registration is open now online at www.dses.com.

Virtual Deal is an Online Deal Creator for the consumer that uses an innovative perfect payment DMS-integrated technology. Auto dealers are currently getting an additional 50 - 150 website leads with VirtualDeal and closing 96 percent of the shown appointments. It is a simple plug-in to an auto dealership’s existing website and works as follows:  A customer can select a vehicle, click the VirtualDeal button and complete their entire deal from home. Customers are able to get multiple lease/payment options, trade value, financing and fees, and reserve their vehicle for up to 24 hours. VirtualDeal creates perfect payments that both the dealer and consumer can get behind and has an integrated customer follow-up system with full accountability reporting. Direct DMS integration allows for deal push and accurate ROI.

Quietly pilot tested, enhanced and improved over the past 8 years, VirtualDeal has been found to produce profit margins on the front and back that are better than Internet web leads, with a significantly higher closing ratio. With VirtualDeal, customers can engage in a private message conversation with a dealership’s deal manager and it’s so mobile friendly that both the customer and the deal manager can work the entire deal from home -- risk free. Customers can receive up to 9 payment and down payment options on a buy or a lease, trade in offers, and a full disclosure. Perfect payment retail and lease proposals allow dealers to work a real deal with the customer. All that’s left is the test dive. Then, the customer simply completes the finance offerings and signs, greatly reducing their time at the dealership.

“I am immensely proud of our team at DealerSuccess and delighted that dealers have chosen VirtualDeal as a finalist for Most Innovative Dealership Solution,” said Joe Orr, DealerSuccess CEO. “Through my year-long research, studying live dealerships, and with actual implementation of VirtualDeal on the Dick Hannah Honda website, I have seen firsthand that this technology produces results like nothing else. I know all of the questions. Will I lose profit on the front-end or the back-end? Can a deal really be finalized – payment perfect – online so that all that remains is the test drive? How does this benefit my dealership? Well, with VirtualDeal, 96 percent of shown appointments close -- I have never seen any customer adoption like this in my 35-year career. Working a deal with a customer at home is definitely a new skillset – but after you really look at it, I think you will agree that you will pick up market share by using VirtualDeal.”

Joe Orr was one of five Innovation Cup finalists selected by dealers and will present onstage at the DrivingSales Executive Summit on October 19th. A panel of dealer judges will ask questions of each presenter and score each product. The solution with the highest score will be presented with the Innovation Cup Award for “Most Innovative Solution of 2015” on the final day of the Summit.

“Once again, the range of applications our dealer advisory board chose from was outstanding, with so many innovative and exciting products that are destined to move our industry forward,” said DrivingSales CEO and Founder Jared Hamilton. “The five selected to compete for the Innovation Cup will, we have no doubt, provide our dealer attendees with many of the solutions they have been looking for.  This competition is one of the highlights of the DSES and these five finalists will make us all proud of, and inspired by, the inventive minds working every day to make our industry better.”

For more information about the DrivingSales Executive Summit and to register, go to http://www.drivingsalesexecutivesummit.com or contact events(at)drivingsales(dot)com. Stay tuned for DSES news as it develops on http://www.twitter.com/drivingsales and on facebook.com/drivingsales. Participate in the conversation using #DSES15 as preparations continue throughout the year.

About DealerSuccess:

DealerSuccess is a team of inspired and passionate automotive executives, dealership Internet directors and professional marketers that seek out, research, test and launch revolutionary automotive products that have the potential to evolve and disrupt automotive for both the consumer and DealerSuccess’ auto dealer partners.

About The DrivingSales Executive Summit (DSES)

The DrivingSales Executive Summit is where the most progressive dealers gather to collaborate and learn forward-thinking trends in automotive operations. DSES features world-renowned experts on marketing, technology and retail operations from inside and outside the industry who provide the most valuable and actionable insights for today’s dealership professionals. The DSES agenda is dealer-driven, ensuring the content is 100 percent focused on the needs of progressive dealers.

About DrivingSales 

DrivingSales is the industry’s leading resource for automotive dealership professionals to obtain actionable insight, education and connections to advance their careers and grow their businesses in a time of unprecedented market change.  Founded by a third-generation car dealer in 2008, today DrivingSales is utilized by two thirds of franchised dealerships in North America as a resource to improve their business performance. 

To learn more about the DrivingSales community, news, dealer education or performance analytics visit DrivingSales.com, DrivingSalesNews.com, DrivingSalesUniversity.com and DrivingSalesData.com

 

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