Stronghold Announces New Customer Vann York Toyota Achieves over 90% Customer Capture Rate Using DealerAdvance
BASKING RIDGE, N.J.--April 29, 2004--| Focus on Key Measurements Assists in Improved Performance |
Stronghold Technologies, Inc. (OTCBB:SGHT), the developer of DealerAdvance(TM), an enterprise software system using wireless and Internet technologies for the automotive retail industry, today announced the signing of Vann York Toyota of High Point, North Carolina as a new customer. After the successful completion of a guaranteed performance period, the dealership entered into a long-term contract with Stronghold.
Since installing Stronghold's DealerAdvance(TM), Vann York Toyota's use of the system to maintain customer contact and sell vehicles through the follow-up appointment process resulted in an average monthly increase to traditional monthly appointments by 25%. In order to effectively bring customers from the point of initial contact with the dealership to purchasing an appropriate vehicle, the dealership first relied on capturing customer information through DealerAdvance(TM). Vann York Toyota's prospect capture rate is averaging over 90% in recent months, compared to an industry average of approximately 50%, according to the National Automobile Dealers Association. Using DealerAdvance(TM) and proven selling processes, the dealership's sales personnel focused on maintaining communication with their customers and arranging follow-up appointments for the purposes of closing vehicle sales.
DealerAdvance(TM) was selected by Vann York Toyota for its simplicity of use and the abundance of information provided to its users. "We found that Stronghold's DealerAdvance(TM) was a system that would help improve our capture rate and provide greater control and process implementation," said Mark Mason, General Manager of Vann York Toyota. "The wireless PDAs empower our sales force to better serve our customers. The system offers impressive access to data that helps to inform our customers and enables our staff to create a more consistent sales process. We now use customer contact, appointment setting and related metrics to monitor our own performance in addressing the needs of our customers and improving our sales operations."
"We are very excited to have contributed to the performance improvements at Vann York Toyota," said Christopher Carey, Chairman and Chief Executive Officer of Stronghold. "Now that DealerAdvance(TM) is used by one of the dealership's in the Vann York organization, we look forward to leveraging our success at this dealership to introduce our results-oriented solution to Vann York's other locations."
Vann York Toyota is the first dealership in the Vann York automobile group to use Stronghold's DealerAdvance(TM). The Group's other dealerships are located at the Vann York Auto Mall, which is home to Vann York Honda, Vann York Mitsubishi, and Vann York Isuzu, and also includes the nearby Vann York Pontiac-Buick-GMC.
Vann York began his automotive career in the 1960's. In 1985, Vann York acquired Toyota of High Point, his hometown, and renamed it Vann York Toyota. The dealership has recently undergone extensive remodeling and equipment upgrading, including the installation of Stronghold's DealerAdvance(TM), to better serve and accommodate its customers and employees. Vann York Toyota is the recipient of the President's Award, the highest honor bestowed by Toyota for excellence.
Vann York is Chairman of the Vann York automobile group. His son, Greg York, serves as President and General Manager and runs the day-to-day operation of the Vann York Auto Mall. The Vann York Organization is a past recipient of the North Carolina Family Business Award and was recognized by the Governor of North Carolina.
The contract with Vann York Toyota required the deployment of 18 handheld personal digital assistants (PDAs) and 6 desktops personal computers (PCs) equipped with DealerAdvance(TM) that are networked for wireless and wired configurations. The dealership utilizes a driver's license scanning station for fast and effective capture of customer information. Stronghold personnel provided complete training of the DealerAdvance(TM) system and, as part of the standard Stronghold agreement, continues to provide on-site and phone customer support.
DealerAdvance(TM) is now used by twelve dealerships in the Carolinas, and over 75 dealerships nationwide. Franchises representing Toyota vehicles account for nearly 20% of Stronghold's customer base. The acceptance of DealerAdvance(TM) by Toyota dealerships corresponds with the United States division of Toyota recording its best-ever year-end total sales for 2003 of 1,606,559 vehicles, up 5.6%, led by the popular Camry which earned the title of "best-selling car in America."
Stronghold Technologies, Inc. (www.strongholdtech.com) is an innovator in applying wireless technology and process improvement methods to increase business efficiency and sales. The Company has developed an integrated wireless technology called DealerAdvance(TM) which, among many features, allows automobile dealers to capture a customer's purchasing requirements, search inventory at multiple locations, locate an appropriate vehicle in stock and print out the necessary forms. Through an integrated CRM (Customer Relationship Management) application, the system sends detailed tasks for prospect and customer follow-up and produces management reports to measure compliance. DealerAdvance(TM) allows sales professionals to increase sales, improve customer follow-up, and reduce administrative costs.
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