Second-Quarter U.S. Sales of Variable Annuities Drop 24%; Writers Rethink Guarantees
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SCI Ltd., today announced that automotive companies and their independent dealer networks can now have single-source visibility across their entire marketing and sales process. Using SCI's proven solution, Torque 4.0, automotive enterprises can create sales reporting and marketing effectiveness analytics at all levels of the organization. This new version of software is an advanced lead consolidation and management Software as a Service (Saas) solution for the Automotive industry.
Improved visibility pinpoints opportunities for better field operations alignment, effective first responses to potential customers and substantial closing rates improvement, which ultimately provides "the missing link" for collaboration in handling prospective sales within a franchised system.
Auto Industry Problem - Patchwork approach to Internet leads Traditionally the auto sector has attempted to build, manage and deploy online marketing and sales activities through a patchwork of internal and 3rd party solutions, which require significant resources to sustain, coordinate, and administer. Subsequently, OEMs and dealers have suffered from delays in customer response times, sales and marketing cost overruns, online functionality shortfalls and delivery failures.
"Improving the on line customer experience is achieved by radically improving the interplay between the manufacturer, its marketing agency and the dealers. This is not easy," said Chris Cawston, President and CEO of SCI Ltd. "We built Torque to bridge the gulf between the independent dealers and their manufacturers with 'truth in analysis' and connected marketing and lead management processes in mind. In doing so, SCI has assisted OEMs and its agencies to achieve significant and meaningful improvements increases in sales."
SCI Torque Version 4 features and enhancements A streamlined, integrated lead process that coordinates the efforts of the OEM, its dealers, and associated marketing agencies, while enabling variable customer lead treatment based on inputs such as source, type, characteristics, customer scores, channel, brand and vehicle of interest eliminates risk, reduces costs and resource requirements and delivers dramatic improvements to OEM's and dealers. This provides all players in the retail process (OEM, Dealers, Agencies) with a strong competitive advantage and provides prospective customers with a superior shopping experience.
Improve customer response and contact With approximately 85% of vehicle purchase decisions starting online, consumers that don't receive timely and prescriptive answers to their questions will defect. Rapid response to customer leads is the first step in establishing a high quality customer experience and it is key in building and retaining loyalty. Torque 4 provides dealers and OEMs with the tools to quickly provide a tailored, customer centric response to leads in order to increase sales and to improve the customer purchase experience.
Personalization of customer response and contact Torque 4 provides a data rich view of the customer, which encompasses sales and ownership history, household information and customer demographics, enabling dealers to provide a personalized response to that customer.
Detailed Analytics allows iterative dealer improvement A key value proposition is the ability to drive continuous improvement of the enterprise sales process, through a comprehensive understanding of 'what works' and 'what doesn't'. By virtue of having control and visibility across the entire marketing and sales process, SCI Torque is able to provide reporting and analytics at all levels to drive and communicate continuous improvements.
Closer examination of marketing and advertising spend Torque 4 allows OEMs to closely examine and assess all marketing program spending in one consolidated tool (regardless of Agency involved), and understand the true effectiveness of that spend - marketing spend linked to leads generated, linked to dealer response, linked to close rate. Automotive marketing professionals can manage multiple agencies, integrate disparate marketing processes (e.g., web banner ads, OEM web sites, events, and publications). It also enables a comprehensive, holistic view of program spend, lead generation, and sales rates.
About SCI(TM) SCI(TM) is the market leader in retail process solutions for the automotive retail channel, through the current offering of lead consolidation, delivery, lead and lifecycle management products. The Company currently supports in excess of 6500 automotive dealers in the United States and Canada. Based on a "SaaS" (Software- as-a-Service) model, SCI's enterprise retail process management solutions significantly improve automotive retail channel effectiveness helping to increase the sale of new and used vehicles, service, parts and accessories as well as customer retention, across an OEM enterprise and its network of dealers.
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