David Steinberg, Founder & CEO
With more than a decade of experience in the auto industry, David Steinberg, inventor and CEO of Foureyes, saw first-hand that when dealerships put their inventory online, it was good for marketing but bad for salespeople. As the shopping experience moved to digital, customers could get the pricing and availability details they were looking for without engaging a salesperson. But salespeople were left in the dark and lacking the information they needed to really influence sales outcomes.
Obviously, dealerships can’t take their inventory off their websites. Instead, they need to adapt and enable their salespeople to be more informed and more efficient: More informed about their customers and more efficient at delivering an excellent sales process. This realization led Steinberg to the development of Foureyes, a sales intelligence software built to help businesses track, protect, engage, and sell better.
Foureyes is a modularized software with solutions geared to the needs of inventory-based businesses.The first step in helping auto dealerships work more efficiently and effectively was helping them get a handle on their lead pipeline. On average, 13% of sales leads never make it into the CRM in automotive. In an industry that spends heavily on lead-generation efforts to keep the sales funnel full, high-quality leads are slipping through cracks in the pipeline far too often.
To combat this, Foureyes created Safety Net to make sure each lead is logged in the CRM. On average, recovered leads add three additional sales per month, per dealer. These seemingly small saves can add up quickly for businesses.
Once their pipeline is protected, dealers need to be more informed about their customers to convert more of these leads to sales. To clarify priorities for salespeople and ensure there’s no time wasted on uninterested leads, Foureyes filters non-sales opportunities from the pipeline. Dynamically updated insights, including vehicle recommendations and suggested talk tracks, are sent to salespeople in real-time alerts each time a lead engages or returns to the website. In this way, Foureyes helps salespeople understand who is really interested, when to reach out, and how to have more impactful sales conversations.
More data is not the answer. Insights that are relevant right now, that can be understood and acted on, that’s what really makes the difference
To further support sales teams, Foureyes works alongside salespeople to engage their leads and bring warm opportunities to their inbox. Leveraging patented user-level tracking and the lead insights it’s mined, Foureyes sends dynamic emails to all active leads, alerting them to price drops, new inventory they may be interested in, and other relevant updates. Instead of attempting to replace sales interactions, these personalized updates work in tandem with salespeople to amplify their conversion efforts. The results? Using Foureyes sales intelligence software, dealerships increase their close rate by 41% on average.
Typically, businesses focus on driving more leads with top-of-the-funnel marketing efforts. But with Foureyes, companies support bottom-of-the-funnel conversion activities and the people who are ultimately responsible for making the sale. The amount of customer data that Foureyes has could easily be confusing or cumbersome, but the company has made a conscious decision to focus on insights, not data for data’s sake. As Steinberg says, “We’re a data company that uses millions of data points to power our products. But we know that more data is not the answer. Insights that are relevant right now, that can be understood and acted on, that’s what really makes the difference and helps businesses sell more.”