DriverSide Serves as Profitable Solution for Texaco Xpress Lube, Precision Tune, and Franchise Dealers.Silicon Valley Helps Auto Industry Maximize Profits During Downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- DriverSide.com, the leading resource for car owners, today announced the successful results of its auto industry programs helping drive highly profitable service and parts revenues at a time when the overall retail auto sales Auto Sales The major producers of domestic automobiles report sales monthly. These numbers are seasonally adjusted by the U.S. Department of Commerce and are available to the public one to five business days after the end of each month. are suffering. DriverSide's individual online vehicle profiles, or 'garages,' help auto dealers, aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. light repair chains, and quick lube operators increase service frequency and profit from both existing and new customers. With its competitive pricing model, participating customers realize significant revenues from consumers that may otherwise have been considered lost to the franchise. Current partner results were immediate and drastic proving that DriverSide's auto industry programs can help partners make money and weather the current downturn. Since its launch in 2008, DriverSide has developed partnership programs with automotive sales and service providers designed to promote customer retention and acquisition. DriverSide builds online 'garages,' for each of its partners' customers, which are then used to make a direct and ongoing connection between the business and its customer. DriverSide garages offer five times more frequent, targeted and interactive content than direct mail. Results to date for current partners in all segments have been impressive and include the following: * Precision Tune has continued to enjoy an 82 percent increase in customer spend per year * The initial 10 Texaco Xpress Lube pilot locations drove $25,000 in incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. revenue in the first month of the program * Since 2008, participating dealerships have increased annual service visits by 27 percent "The auto industry is in desperate need of some good news, and here it is," said Jad Dunning Dunning The process of communicating with customers to ensure the collection of accounts receivable. Notes: Dunning can start with gentle reminders and then progress to nearly threatening letters as accounts become more past due. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and co-founder of DriverSide. "Drivers are willing to spend money to keep their cars running and up-to-date. Service providers and dealers just need a little help from Silicon Valley to build stronger, more lucrative relationships with them." The typical service location has experienced significant churn churn: see butter. among first time customers. This is the specific problem which DriverSide's business services address. Meanwhile, new vehicle sales in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. continue to drop and dealers are rapidly shifting their focus to service existing car owners, where they can pursue revenue as drivers attempt to extend the life of their vehicles. Service Station ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). DriverSide partnered with Precision Tune in October 2008 and has programs up and running in 260 stores. DriverSide has created over 230,000 garages for customers, and Precision Tune is reporting that customers with garages perform 80 percent more service visits than non-garage users, and have 82 percent higher annual spending. DriverSide launched a pilot program with Texaco Xpress Lube in April 2009 in ten of their retail locations. Through the program, DriverSide created more than 4,000 garages for Texaco Xpress Lube customers. In the first month of the program, Texaco reported an additional $25,000 in service revenue, of which 70 percent was from customers who had not been in the store for the past 12 months. "We have been able to develop relationships directly with our customers as a result of our partnership with DriverSide, which drives repeat visits to our service centers," said Doug Levene, President of Texaco Xpress Lube of Alabama. "Repeat visits translate directly to an increase in revenue." Dealer ROI DriverSide is also working with 25 dealers across the country to develop garages for their customers. Dealers reported that customers with garages increased annual service visits by 27 percent. Additionally, dealers' experienced a $106 dollar per customer increase in annual service revenue and an increase in total revenue by 22 percent from recaptured "lost" customers and new vehicle owners. "Through our partnership with DriverSide, we have experienced higher service frequency, increased service revenue, and recaptured 'lost' customers," said Bruce Dacause Sr., Service Manager of Tasca Automotive Group. "The program has clearly been beneficial to our bottom line and we will continue to build garages for new and existing customers." Key DriverSide Benefits "DriverSide offers valuable tools for all members of the automotive ecosystem - from service providers, to dealers to drivers," said Jeff Bell, DriverSide board member and former Vice President of Chrysler and Jeep Divisions. "Our web service and customer retention programs have clearly demonstrated increased revenue for aftermarket service providers and dealers. With today's economic conditions and disappointing new car sales, now is the time for the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. to double down on customer retention and focus on car owners to generate new leads." DriverSide features hundreds of thousands of driver profiles, including make, model and location, offering an extremely targeted method for reaching new customers. DriverSide can also easily integrate a company's existing customer base, providing a robust platform for customer retention and management. About DriverSide Founded in fall 2007 by Internet Entrepreneurs An Internet Entrepreneur is a person that engages in business on the internet and helps to shape the future of business on the internet by being an innovator. One who is able to recognize opportunity and administer resources to take advantage of the opportunities. Trevor Traina, Adam Jackson, and Jad Dunning, DriverSide is the first Web site specifically designed to help automobile owners save money and time. Funded by Catamount catamount: see puma. Ventures and Allegis Capital, DriverSide allows consumers to save money on servicing and maintenance costs as well as buy and sell automobiles. With an in-house editorial staff, DriverSide offers useful advice on how to own and operate a vehicle as well as reviews on new and used automobiles. DriverSide's community allow consumers to participate in forums, meet other owners of a particular vehicle, share knowledge, and post reviews on mechanics and dealers. DriverSide has brought together all the tools, information, and resources needed to make automobile ownership Automobile ownership is the sum of all the aspects associated with owning an automobile. In developed countries owning an automobile has become very common because it is a widely available form of transportation. an easy and personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. experience. For more information, visit www.driverside.com. About Precision Tune Auto Care: What started as a small tune-up shop in Beaumont, Texas Beaumont is a city and county seat of Jefferson County, Texas and is within the Beaumont-Port Arthur metropolitan area. As of the 2000 U.S. Census, the city had a population of 113,866. more than 30 years ago is now a pioneer in advanced automotive diagnostics and the one-stop shop One-Stop Shop A company or a location that offers a multitude of services to a client or a customer. The idea is to provide convenient and efficient service and also to create the opportunity for the company to sell more products to clients and customers. for scheduled maintenance, service and repairs for autos, light trucks, SUVs and minivans. Servicing 2.5 million vehicles each year, Precision Tune Auto Care franchises 380 state-of-the-art professional service facilities throughout the world and is a leader in educating the driving public on the importance of car care for personal safety and the health of the environment. For more information about Precision Tune Auto Care: http://www.precisiontune.com. About Texaco Xpress Lube[TM]: Xpress Lube is a global network of premier automotive service centers. Motorists can be assured of professional and reliable car care services employing some of the latest technology and quality Havoline automotive products. For more information on Texaco Xpress Lube of Alabama, please visit www.xpresslubealabama.com. |
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