In a one-year span, data mining generated $275,000 in gross profit on 106 units for Idaho’s Larry H. Miller Honda Boise. Stephen Smith, the location’s business development and internet manager, chalks it up to a veteran sales team, DealerSocket CRM’s automation and accountability tools, and the ability of the CRM’s RevenueRadar data mining tool to deliver high-value opportunities.

“It starts with having the right strategy, process, and people involved,” says Smith. “My internet/BDC team handles all internet and phone traffic, which allows us to hand RevenueRadar and data mining almost solely to the sales staff.”

"The automation keeps our salespeople motivated because they’ll lose a potential customer if they don't work their RevenueRadar leads.”

Stephen Smith, BDC and Internet Manager

Larry H. Miller Honda Boise

Accountability through automation

Smith says "almost" solely to his sales staff because there are a couple of accountability processes and CRM automation steps designed to keep his sales team on-task. For instance, the dealership uses CRM automation that gives salespeople 24 hours to act on a RevenueRadar lead via email, phone, or a SocketTalk text message.

“After 24 hours, my BDC staff gets full permission to reach out to the customer,” Smith says. “If we make contact, we put it under our name and work it. The automation keeps our salespeople motivated because they’ll lose a potential customer if they don't work their RevenueRadar leads.”

To ensure the team isn’t inundated with long-shot opportunities, the dealership pairs RevenueRadar’s lead scoring, which provides each opportunity with weighting based on propensity to buy, with its drip logic, which filters in the highest priority opportunities on a manageable cadence.

“You don’t want to see sales guys with 200 tasks in their bucket. It’s not helping anybody process their leads,” Smith says. “Keeping those cleaned up is important, and RevenueRadar does that very easily.”

“The system is great at identifying who can lower their payment, so you can trust you're getting quality leads. In a lot of cases, RevenueRadar leads are better than Internet leads.”

Stephen Smith, BDC and Internet Manager

Larry H. Miller Honda Boise

Optimized for success

Together with their DealerSocket Strategic Growth Manager, the dealership optimizes its RevenueRadar leads to improve the sales team's chances. For instance, Smart Payment leads, or customers who can switch to a newer vehicle while lowering their payment, are set up to trigger in RevenueRadar when customers have an APR between 6% and 29% and at least two years of good payment history.

“The system is great at identifying who can lower their payment, so you can trust you're getting quality leads,” Smith says. “In a lot of cases, RevenueRadar leads are better than Internet leads.”

Using RevenueRadar, which is built directly within the CRM, the Larry H. Miller Honda Boise sales team provides a personalized follow up approach based on the customer’s current vehicle and equity position, finance terms, payment and service history, and a keen understanding of current-year models and trim levels. “With all the information the system provides, it becomes a courtesy call," Smith says of the store’s approach. "It’s not a cold call. It’s you giving them a call to provide a needed service.”

To ensure a superior customer experience continues, the dealership relies on the CRM’s automation to send vital customer touchpoints, such as the delivery of reminder emails the day before the appointment. 

“With all the information the system provides, it becomes a courtesy call. It’s not a cold call. It’s you giving them a call to provide a needed service.”

Stephen Smith, BDC and Internet Manager

Larry H. Miller Honda Boise

Data-driven engagement

The store employs tailored phone scripts by attaching them to RevenueRadar leads through the connected CRM. These pre-built phone scripts contain word-tracks that guide the opening and closing of a conversation, as well as key questions a salesperson can sprinkle throughout based on the lead type and the customer’s responses. The store’s veteran sales team takes it from there.

"There is a lot of information in those leads, and it’s important they know a few details about the customer’s loan, vehicle of interest, and the vehicle they currently own,” Smith says. “This isn’t a phone book. You have to be prepared, and that preparedness is going to translate into car deals, and, more importantly, into gross.”

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