December 6, 2023

Car Auto Finance

Car Auto Finance FOR Everyone

FRIKINtech unveils fully automated equity mining tool for dealers

If your dealership staff struggles with cold calling, the newest tool from FRIKINtech might help.

The provider of automotive dealer engagement technology recently launched EQUITYiQ, a fully automated first-party equity farming tool that can bring sales and service data together to identify and deliver equity offers to customers without adding burden to the sales team.

“The past two years have reshaped dealership sales teams where fundamental selling skills have been forgotten,” FRIKINtech CEO Alex Snyder said in a news release. “We have stayed nimble to help dealers get through a fast-changing world. 

“EQUITYiQ is the latest of our innovations that uses technology to handle the pipeline-building while focusing the salespeople on the things they like to do,” Snyder continued.

FRIKINtech explained that EQUITYiQ can engage the customer so cold calling is not needed by:

● Delivering live, personalized offers to customers via text message, email or mail

● Driving customers to customized landing pages with personalized offers

● Enabling customer-driven experience, including exploring different new and used cars they can buy, altering with incentives, credit tiers, finance companies and financing terms, and even changing the vehicle they wish to trade

● Delivering buying signals directly to the dealer’s CRM, so nobody needs to log into another tool

“We’re delivering a highly relevant message to customers at the right time,” Snyder said. “The combination of real-time interactive offers with customer-led engagement, and lower costs of modern technology means dealers grab the customers’ attention without the effort and cost associated with traditional equity-mining tactics.”

EQUITYiQ utilizes FRIKINtech’s digital body language to capture every vehicle and payment scenario a customer considers and translates that data into actionable language for the sales team to move in and secure the deal.

FRIKINtech noted that EQUITYiQ is built to deliver a transparent customer experience first, stacking rebates and incentives correctly and calculating taxes and fees so the price customers see online is the price they receive in the F&I office.

“In addition, EQUITYiQ is built with the transparency the Federal Trade Commission (FTC) is pushing for,” FRIKINtech said.

EQUITYiQ is available for $1,299 per month for every dealer.

For more information about EQUITYiQ, FRIKINtech and the company’s other automated dealer solutions, visit https://frikintech.com.

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