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Toyota Dealer Achieves Market Leading Retention Rates

Riverhead Toyota Case Study

Summary

Riverhead Toyota understands that the service drive has a steady, repeatable flow of customers every day – even when showroom traffic is down. They partnered with Mastermind to help them improve their service to sales process and begin maximizing their ROI.

About

Riverhead Toyota is a family owned and operated dealership in Riverhead, NY which boasts a full service new and used car selection. Their motto? Whether you are shopping for a new or used vehicle, you can rest assured that you will receive an excellent buying experience no matter what your price or model limitations are.

Challenge

Since the sales team members at Riverhead Toyota weren’t working the service drive consistently, the reality of making outreach with every client that comes in for a conversion is far-fetched. They knew that they needed an effective and efficient process to sell more cars through the service drive, so they enlisted Mastermind’s sales platform to automate much of this process and offer customized personal offers for service customers to increase their new cars sold each month.

Solution

Riverhead Toyota chose to partner with Mastermind and in return achieved market-leading retention rates. Mastermind helped to build a repeatable service to sales process that has yielded a 19% month over month conversion ratio of clients targeted in the service drive. Through the use of behavior prediction algorithms, they were able to identify high-potential leads in their service drive and provide these customers with a targeted offer for them to convert them into new car buyers, which also increases retention in the long run, as well as provides Riverhead Toyota with a used car that they can sell on their lot, as well.
 
“Mastermind has been great in helping us tap into our service department. Not only does the technology filter out top service prospects with a simple “most likely to buy” Behavior Prediction Score™, they are presented to our sales people in a way that is easy to understand. Nothing compares to Mastermind. The success we’ve seen in conquesting both service-not-sold customers and customers from competitive brands has exceeded any of our expectations,” says Joel Minichiello, Sales Manager.

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