DAYTONA BEACH, Fla., Aug. 13, 2015 /PRNewswire/ -- DMEautomotive (DMEa) today announced that Gross Revenue Optimization (GRO), its groundbreaking methodology built upon a foundation of statistical analysis and direct research for forecasting dealer fixed ops revenue and retention rates, has been selected as a presentation topic by DealerSocket.
Mary Sheridan, Manager of Research & Analytics at DMEautomotive, will present GRO at the upcoming 2015 DealerSocket User Summit on August 18-20 in San Diego, CA. Located at the Modern Bayfront Hilton in Downtown San Diego, the DealerSocket User Summit is an event filled with interactive classes, OEM Integrations, dealer showcases, and best practices of DealerSocket's CRM Suite and latest products. Attendees come from dealerships across the U.S. to gain the knowledge they need to succeed and thrive covering each area of the dealership: sales, service, Internet, BDC, reputation, data mining, marketing, and reporting.
By addressing long-standing issues with traditional service retention metrics, GRO's design helps dealers increase their customers' lifetime spends in the dealership service lane and keep those customers coming back for their next vehicle purchases.
"Traditional fixed ops metrics have been the gold standard in the industry for years, representing the percent of dealership customers who come back for service within 12-18 months. But these metrics leave out vital customer behavioral data that causes dealers to make misguided investments and send the wrong messages to the wrong customers at the wrong times, wasting marketing dollars and their efforts," said Mike Walther, Managing Director of DMEautomotive. "GRO takes this data into account, provides dealers with a clear picture of their customers, and helps them put plans in place to increase revenue and retention. We're gratified that this topic has resonated so much with our clients, and we're excited to present our proven metric to some of the top minds in the automotive industry at these prestigious events."
In a study of GRO's effect, DMEautomotive found the 4-year repurchase rate for the targeted range of dealers (with an average GRO score twice that of the majority of dealers) saw 75 more units sold than the majority of dealers by increasing the percent of captured customer lifetime value as measured by GRO.
DMEautomotive (DMEa), a Solera Holdings Inc. company, 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 dealerships 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. Joined with Solera's network of global companies dedicated to innovation, DMEa's mission to increase customer engagement within the automotive industry is further strengthened.
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, Florida.
Solera is a leading provider of risk and asset management software and services to the automotive and property marketplace, including the global P&C insurance industry. Solera is active in over 75 countries across six continents. The Solera companies include: Audatex in the United States, Canada and in more than 60 additional countries; HPI, CarweB and CAP Automotive in the United Kingdom; Informex in Belgium and Greece; Sidexa in France; ABZ and Market Scan in the Netherlands; Hollander serving the North American recycling market; AUTOonline providing salvage disposition in a number of European and Latin American countries; IMS providing medical review services; Explore providing data and analytics to United States property and casualty insurers; Identifix, providing solutions for the service, maintenance and repair ("SMR") market; AutoPoint and DMEautomotive, providing data-driven tools to enhance SMR experiences and facilitate customer retention and marketing solutions for the retail automotive industry; and I&S, a provider of software and business management tools, third-party claims administration, first notice of loss and network management services to the U.S. auto and property repair industries, specializing in glass claims. For more information, please refer to the Solera's website at www.solerainc.com. - See more at: http://ir.solerainc.com/phoenix.zhtml?c=210437&p=irol-newsArticle&ID=2075383#sthash.QNLUPKmj.dpuf