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SOURCE CallSource Automotive
WESTLAKE VILLAGE, Calif., May 6, 2014 /PRNewswire/ -- CallSource Automotive, the industry leader in call management, marketing analysis and sales improvement, today announced it has partnered with IHS Automotive, a leading global source of critical information and insight, to add key new and used vehicle purchase insight to its patented Sales Profit Management (SPM) System. IHS Automotive is part of IHS Inc. (NYSE: IHS), which acquired R. L. Polk & Co. last year.
The addition of IHS Automotive information and insight allows CallSource to provide its automotive dealer customers with reporting and analytics to show how many sales prospects ultimately buy at the dealership they called and how many are ultimately lost to competing dealerships and alternative brands. This data will allow CallSource to better identify and pinpoint how to improve their clients' call management processes and will help them to track improvements in performance over time.
"IHS Automotive purchase insight provides a key element in analyzing the results of our clients' call management efforts," said Andrew Price, President of CallSource Automotive. "Our patented SPM system provides a continuous loop of ongoing improvement for our dealers. The IHS Automotive insight is an important measurement of dealership performance that allows dealers to identify areas of profit leakage and improve their call management processes."
The two organizations recently collaborated to measure the impact of CallSource's DealSaver® service. When mishandled sales or service calls are identified, a text message alert is sent to the dealership giving management a second chance to reach out to the prospect and set an appointment in order to get the consumer into the dealership. After a 90-day review of calls at nearly 500 dealerships, IHS Automotive found that more than 40 percent of customers -- who purchased from the initial dealership they contacted -- came into the dealership following a DealSaver alert.
"Adding our analytics to CallSource's SPM system provides some important metrics," said Bob Sherman, director - sales and client services, for IHS Automotive. "As in the case of the DealSaver analysis, we can validate that CallSource services are providing an immediate impact on a dealer's bottom line. In addition, we can uncover important industry trends that help dealers monitor their individual call management performance against the rest of the industry."
Handling incoming phone calls continues to be one of the most important elements to auto retail sales success. According to research and a recent OEM study by CallSource, customers who pick up the phone to inquire about a vehicle typically make a purchase in 2 to 5 days. Unfortunately, many sales personnel have not been properly trained to establish rapport, discover the needs of the prospect, or set the showroom appointment during a call. These gaps in call-handling skill cost dealers hundreds of thousands of dollars in missed sales opportunities. The relationship now established between CallSource and IHS Automotive sheds new light on how critical it is to follow up on mishandled calls after receiving alerts to increase appointments and sales.
CallSource has been the industry leader in call tracking and lead management solutions for more than 20 years. Based in Westlake Village, California, CallSource recently launched its patented Sales Profit Management (SPM) system to provide dealerships with call tracking, performance analysis, advisory services, online and on-site training and streamlined access to a network of top industry service providers.
CallSource serves multiple industries including automotive, home services, media, and healthcare, as well as numerous Franchise businesses. For more information about the company, visit CallSource.com.
About IHS (www.ihs.com)
IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today's business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to sustainable, profitable growth and employs more than 8,000 people in 31 countries around the world.
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