White Paper - The 4th Lead and the New Generation of Data Mining: Data Dripping

The 4th Lead and the New Generation of Data Mining: Data Dripping

Dealership lead success, until recently, has been dependent upon proper follow–up of two primary lead sources: walk–ins and phone–ups. The rise of the internet has confronted dealers with the new challenge of capitalizing on this continually growing third source of leads.

Today, you spend valuable time focusing on responding to leads coming from phone–ups, walk–ins and internet. You understand the importance of quickly responding to these leads, and apply significant resources to achieve this end. But, you might be ignoring your best lead source: your DMS.

Within your DMS lead–source engine, you have a wealth of valuable information, such as sold customers' current payments, APRs and months to terms. There are many current data–mining tools that create huge lists of customers who may qualify for lower payments. Where they fall short is dripping these revenue–generating leads throughout your CRM so no opportunities go untouched.

RevenueRadar is a powerful data–mining tool that proactively and continually mines your CRM database searching for information that equates to revenue–generating opportunities. This tool looks at each customer, calculates his current vehicle value and estimates the types of payments he can potentially make. Now, you have data specific to each customer who is in, or is about to be in, a position to spend. This allows you to touch him with the relevant, specific message he desires.

RevenueRadar drives revenue, as it automatically "drips" continually updated payment information, vehicle evaluations and current programs and incentives through your CRM. Every day, open your CRM, and see the lowest hanging fruits. Pass them off (or set them to automatically be passed off) to experienced sales or BDC representatives to focus on scheduling appointments with those customers.

This is the new generation of data mining: your fourth lead source is automatically dripped through your CRM. Hot leads are continually generated; you are made aware, and you preemptively contact your customers to let them know they can benefit by visiting your dealership, increasing your revenue in the process.

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