AutoAlert announced today the market release of its newest product, CreditConvert, a customer conquest tool that enables dealers to multiply their service drive selling opportunities.
Powered by pre-screen soft credit pull technology, CreditConvert enables dealers to engage service-not-sold customers by combining existing AutoAlert data with previously unknown equity and credit information. Pilot results clearly demonstrated increased sales to service customers who did not originally purchase their vehicles from the dealership:
“I had hundreds of service-not-sold customers coming through my service drive every month and I had no idea of their payoff or equity. Within just a few weeks of turning on CreditConvert, I got solid sales opportunities on 54 customers and have closed 14 of those sales already,” said Chris Justice, GM of Valley Hi Honda, Victorville, Calif.
CreditConvert helps dealers:
- Execute real-time credit soft pulls without social security number or date of birth
- Automatically download previously unknown equity and credit information into AutoAlert
- Target customers by credit tier and vehicles by model year and mileage
- Follow up with customers not eligible to upgrade now; CreditConvert uses predictive intelligence to notify the dealership when the customer will be eligible
The criteria CreditConvert uses is the same that banks use for automotive loan approvals and complies with the Fair Credit Reporting Act; because customers are not applying for credit directly the soft pull has no negative effect on their score. Offers made by CreditConvert are dealer-specific, so resulting firm offers of credit to customers are only valid at the issuing dealership.
Bryan Honda of Fayetteville, North Carolina, also is having great success with its use of CreditConvert. “Compared to the small amount of money we spent on credit soft pulls, the ROI on this tool has already been off the charts,” said Rico Glover, Bryan Honda eCommerce Director.
About AutoAlert, LLC.
AutoAlert is the automotive industry’s leading data-mining and sales opportunity-generation platform to help dealerships increase vehicle sales, trade-in volume, and improve customer retention. Founded in 2002, AutoAlert provides the automotive industry with innovative software, marketing and training solutions. For more information, contact Nathan Warner, Director of Marketing at 949-398-7008 or Nathan@autoalert.com or visit www.autoalert.com.