Roy Greenblatt, the owner of Matt Blatt Imports in New Jersey, knows how to match good ideas with the right technology to improve his business. To me, guys like Roy show how innovation and technology have become inseparable in our industry.

Roy vividly recalls the first time he listened to recordings of his sales staff handling inbound phone calls. I was not happy, to put it mildly, he says. When customers called us, we didnt handle the calls properly. As a result, we were losing deals.

A 26-year veteran of the automobile retailing industry, Roy set his sights on recapturing those lost deals. I was really disgusted with the situation and I had to figure out a way to fix it. Thats when I came up with the idea of assigning one person to recover lost deals.

Roy took one of his most experienced managers and gave him a new title: Lost Deal Manager. Along with the title, the manager got a new set of responsibilities-and rewards.

With the help of call measurement and call monitoring technology, the lost deal manager reviews every inbound call placed to all three MattBlatt locations.

In truth, he listens to about 83 percent of the calls, explains Roy. But you would be amazed at what he learns from those calls. Hes empowered to jump right into any deal if he doesnt like the way it was handled on the phone. He is our safety net.

When the lost deal manager senses a missed opportunity, he will reconnect with the customer, makes amends, and get the deal back on track. He does about 21 deals a month total, says Roy. Of that total, about 13 are deals that were initially mishandled or somehow fell through the cracks. Those 13 additional deals are like finding hidden treasure-they were deals we would have lost without making the extra effort.

That extra effort has a significant impact on the business, says Roy. It adds hundreds of thousands of dollars to the bottom line annually. Just an extra 10 deals every month does wonders. Lets do the math: If youre averaging $2,500 in profit per vehicle, then youre generating an additional $25,000 in profit monthly. After you pay the salesperson and the lost deal manager, youre still netting an additional $13,500 a month. Over 12 months, that adds up to an extra $162,000. I honestly dont understand why more dealers arent doing this.

Roy concedes that not every dealership is prepared to hire a specialist to focus on recovering lost deals, or willing to assign an experienced manager to an unfamiliar role. All you need is guts, he says. The technology and local support are already available from reputable vendors and it really doesnt cost that much. This is a great way to grow your bottom line, without making a huge investment.

Roys innovations have kept Matt Blatt Imports ahead of its competitors for 17 years. Without exception, we have sold more cars every year than the year before, he says. Instead of worrying about reducing expense and breaking even, we try to keep growing the business. And with the right technology from a trusted vendor, we routinely convert lost leads and missed opportunities into significant earnings.

As long as guys like Roy arent afraid to test their ideas and explore new uses for available technology, our industry will stay competitive and healthy.

Stuart DePina is CEO of Whos Calling, Inc. For additional information please visit www.whoscalling.com or call 866.WhosCalling.