DAYTONA, Fla. and SALT LAKE CITY, April 2, 2014 /PRNewswire/ -- DMEautomotive has been selected as a finalist for the 2014 DrivingSales Most Valuable Insight Award, which was created to foster the spirit of progress and thought leadership in the auto industry.
Applicants were asked to provide an insight, based on comprehensive original research, which can provide significant value to dealership executives. DMEautomotive was selected as one of four finalists from a competitive field of submissions and will present Moving Beyond Retention: A New Paradigm to Grow Your Service Business as part of the Most Valuable Insight Competition at the 2014 DrivingSales Presidents Club event, held at the Grand Hyatt in New York City on April 16th, 2014.
"Given the high level of investment and management attention directed at retention in the auto industry, we were surprised when our research showed how unreliable traditional retention metrics can be, especially in times of dramatic change as we've experienced over the past few years. We look forward to showing dealers at the President's Club a new way of measuring customer retention and loyalty based on specific customer data. We believe the dealers who utilize this new metrics approach today will be the market leaders of tomorrow," states Doug Van Sach, DMEautomotive Vice President, Strategy & Analytics.
Moving Beyond Retention: A New Paradigm to Grow Your Service Business will demonstrate that traditional retention metrics have become an unreliable way to measure customer loyalty and could be leading auto dealers to make poor business decisions. The presentation will offer a new approach for monitoring loyalty: GRO (Gross Revenue Optimization), which measures the percent of potential lifetime value a dealer is currently capturing from its customers. GRO enables dealers to better understand performance at each stage of the customer lifecycle and it provides a higher level of precision needed to compete in today's hypercompetitive marketplace.
"This year's DrivingSales Most Valuable Insight presentations are destined to get our industry talking about key areas for process innovation and improvement. Each is based on deep research and promises to help our dealer attendees increase profits and build for the future," said DrivingSales Founder and CEO Jared Hamilton. "Congratulations to DMEautomotive for offering original thinking and an insight so valuable that our dealer panel has selected it to be presented to hundreds of their peers. We look forward to learning more about Moving Beyond Retention: A New Paradigm to Grow Your Service Business in New York in April."
The DrivingSales Most Valuable Insight finalists were exclusively chosen from online applicants by top decision-makers from innovative dealerships across the US. The Dealer Panel based their decisions on the following criteria:
- Insight usefulness & applicability to a dealership/group
- Topic relevancy to a Dealer Principal or GM
- Magnitude of results or impact of the insight to a dealership/group
- Insight originality
Each finalist company will have the opportunity to present its insight onstage at the 2014 DrivingSales Presidents Club. The presentation includes a Q&A with a panel of dealer judges who will score each insight. The finalist company determined to have the Most Valuable Insight will have the opportunity to present findings in more detail at the 2014 DrivingSales Executive Summit in October.
The Most Valuable Insight Competition is part of a high-level line-up at the DrivingSales Presidents Club that includes Gary Vaynerchuk and DealerTrack's Mark O'Neill. Visit www.drivingsalespresidentsclub.com for more information and to register for the event.
For more information about the DrivingSales Most Valuable Insight Competition, go to www.drivingsalespresidentsclub.com/competition/.
DMEautomotive (DMEa) is the industry leader in science-based, results-driven automotive marketing, and provides turnkey marketing to the largest and most innovative automotive organizations, from automobile dealers to many of the largest aftermarket companies in the U.S. DMEa's uniquely panoramic view of the complete automotive sales and service market, combined with its cutting-edge, science-based marketing programs, increases customer yield, conversion and retention.
DMEa does not take marketing performance on faith, and each product and service is measured by a simple, precise scientific approach: Is it true? Prove it. Will it work? Test it. Does it generate results? Show it! Supported by DMEa's proprietary, cloud-based Red Rocket Technology Platform, the DMEa product suite includes science-based, data-driven, multi-channel customer acquisition and retention marketing programs; best-in-class campaign reporting; data management and analytics; auto-focused Customer Interaction Center solutions, and complete on-site mail and email fulfillment services. Headquartered in Daytona Beach, Florida, DMEa also has major operations in Jacksonville, Fla.
About The DrivingSales Presidents Club
Held annually on the east coast, The DrivingSales Presidents Club offers dealer principals a place where they can access the right, relevant information to lead their dealerships – profit-building information filtered through those who understand it best: innovative leaders from inside and outside the industry who have built great business strategies; progressive dealerships who are making a difference on the ground, and the forward-thinking general managers and dealership principals who not only know what information matters, but how it matters. The event, which is dealer-designed to cover the topics most relevant to the challenges of dealership leadership today, also emphasizes peer interaction and idea-sharing forums. Discussions and presentations focus on the three foundational assets of successful dealership operations, Capital, Brand and People and the event includes The Most Valuable Insight competition.
DrivingSales is a professional network serving the auto industry with dealer-driven news and information, online training, and performance data, all to enable dealers to make critical business decisions at their dealerships. DrivingSales' mission is to connect progressive dealership professionals to the people and information they need to maximize their success. Founded by a third-generation car dealer, and opened up to the industry in 2008, today DrivingSales has registered users in over 50% of new car dealerships in the US and is active in several other countries around the globe. To learn more about the DrivingSales community, training or performance analytics visit DrivingSales.com, DrivingSalesUniversity.com and DrivingSalesData.com