In one of two announcements coming from DealerSocket on Friday, RevenueRadar — which is powered by DealerSocket — now is officially certified and a featured partner for General Motors' new Equity-Mining Initiative.

Officials highlighted that GM announced to its entire field organization and all 4,300 franchised dealers about the opportunity to use powerful equity-mining tools like DealerSocket's RevenueRadar. GM dealers are given incentive bonuses for those who participate in their Equity-Mining Initiative by Dec. 31.

“DealerSocket is excited to expand our partnership with General Motors through the Dealer Technology Assistance Program (DTAP) and their new Equity-Mining Initiative,” said Matt Redden who oversees sales and marketing at DealerSocket.

“We look forward to improving dealerships' ability to uncover opportunities hiding within their DMS and increase their customer loyalty with our robust automated revenue-generating solution,” Redden continued.

RevenueRadar, a stand-alone equity-mining solution, can give dealerships a new way to discover and handle new leads.

Once RevenueRadar is turned on, it immediately starts discovering “hot, new” opportunities for sales and service departments to pursue. DealerSocket insisted many dealerships saw more than 30 additional deals per month when using RevenueRadar, a solution that can identify opportunities such as equity, service history, and lower payment.

“This allows dealerships to discover, browse, and communicate directly to customers that have a certain year, make, or model,” officials said. “RevenueRadar continues to consistently demonstrate why dealerships have seen 73 percent close rate on RevenueRadar appointments set.”

To learn more about DealerSocket's RevenueRadar or General Motors DTAP partnership with DealerSocket, visit http://dealersocket.com/gmequitymining or call (877) 740-5880.

DealerSocket, Century Interactive Finish Service Setter Integration

In other company news, DealerSocket recently completed an enhanced integration with Century Interactive to include Service Setter, a move officials explained is meant to increase efficiency and profits within dealership service departments.

The companies explained Service Setter is a comprehensive dashboard that can put all of a service department’s call tracking needs into one easy, accessible place. 

With Service Setter, service departments can track and record all of their inbound and outbound calls. All of those calls are then immediately filtered, categorized, evaluated and scored.

Within this dashboard, service managers have access to service performance reports, which display marketing efforts are delivering the best service leads and highlight the performance the service staff.

Officials said the need for such a platform has become apparent after National Automobile Dealers Association revealed that service departments are responsible for 60 percent of net profits at dealerships.

“It’s essentially a dealership’s gold mine,” they said.

“Service Setter empowers service departments to step up and value the phone,” they continued. “It does this by delivering the most important service opportunities to the right person at the right time. This way, managers and staff can step in and salvage the opportunity calls that need more attention.”

The companies went on to highlight that one of the most valuable features of Service Setter is that it can provide individual phone skills feedback and coaching to the staff members who need it most.

“With proper guidance service staff are able to convert the calls they’re receiving, ultimately booking more appointments at no additional marketing expense,” officials said.