FRIKINtech Launches Fully Automated Equity Mining for Dealers
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FRIKINtech Launches Fully Automated Equity Mining for Dealers

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

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“The past two years have reshaped dealership sales teams where fundamental selling skills have been forgotten,” said Alex Snyder, CEO at FRIKINtech. “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.”

EQUITYiQ engages the customer so cold calling is not needed:

  • 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, lenders and financing terms, and even changing the car 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,” said Snyder. “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.”

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

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.

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

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