Return on Investment in 2023

[Alex Snyder]

What’s the best way to end a series on stats from 2023? ROI of course!

For dealers utilizing FRIKINtech’s automations to mine their service drive, mine their sold database, show payments on their website, respond to internet leads with payment quotes, and/or show matching payments in their marketing here’s how they did in 2023.

Average new leads per month generated: 75

Average closing ratio on those leads: 13%

Average sales per month per store: 10

Average ROI on FRIKINtech products: 38X



NADA showed an average advertising cost per new car sale of $692. SERVICEiQ and EQUITYiQ incept the idea into people’s heads to buy a car. These people were not looking at other dealership ads because they usually weren’t in the market at that time. Dealers utilizing those products saw an overall $77.39 cost per sale for deals attributed back to FRIKINtech.

 

[TaylerCake]

Looks pretty decent, but I see that more and more investors tend to go for IT for a higher ROI.

 

[Protector]

A 38X ROI is pretty significant.The $77.39 cost per sale for deals attributed to FRIKINtech is much lower than the average advertising cost per new car sale.

 

[Alex Snyder]

Looks pretty decent, but I see that more and more investors tend to go for IT for a higher ROI.

A 38X ROI is pretty significant.The $77.39 cost per sale for deals attributed to FRIKINtech is much lower than the average advertising cost per new car sale.

for where these two go next.