New MediaTrac™ BeBack™ Program Helps Auto Dealers Turn Prospective Vehicle Shoppers Into Buyers
SAN RAMON, Calif., Aug. 15, 2011 /PRNewswire/ — MediaTrac™ today announced the release of the BeBack Program. This vehicle sales inducement program helps auto dealerships specifically target those potential buyers who may have visited the dealership but failed to purchase a product on their most recent visit. The average auto dealership sees 75 to 80 percent of floor traffic leave the store without ever making a vehicle purchase and 40 percent of those shoppers will buy a vehicle in the next three days from a competitor. This new program is designed to help drive these lost sales opportunities back into auto dealerships. BeBack provides the buyer with an immediate, customer-centric, valuable motive to return to the store and make a purchase. It is also a very effective tool for motivating existing customers to return for secondary or repeat purchases.
MediaTrac, a marketing technology company providing customized frequency marketing, customized loyalty, prepaid maintenance, retention and media tracking programs for auto dealers, just completed six months of in-field beta testing on BeBack, which has proven extremely effective at targeting these prospects and turning them into vehicle buyers. "Our new BeBack program has been highly effective in the beta dealerships. In fact, one Toyota dealership sold 10 new Toyotas in the first 10 days on the program as a direct result of the BeBack card," commented Jeff Shenk, Director of Operations at MediaTrac.
The BeBack Program allows each dealership to select an incentive value, issue it in the form of a time-restricted, redeemable card and offer it to customers as a sales incentive to entice them to return within a specified period of time to make a purchase. The BeBack card resembles a gift card with the dealership's brand prominently displayed. Cards may have a variety of different denominations; the dealership chooses the discount value offered to each prospective buyer.
The BeBack cards carry a much higher perceived value to the customers than any other "take away" the dealership may already be providing. It is not unusual for dealers to see 18 to 20 percent of their prospects who received a BeBack card return and purchase a vehicle within 10 to 15 days of receiving the incentive card.
Immediately following their initial visit to the dealership and the issue of a BeBack card, a series of high-impact communications are sent to prospects. More than just an email, each communication utilizes a different aspect of sales psychology messaging to entice the prospect back into the dealership. The first of these emails is a quick survey, which seeks to determine the exact reason(s) why the customer did not make a purchase. Based upon the customer reply, a tailored sales response from the dealership may be initiated. The responses tend to be surprisingly candid and dealers may expect a 30 to 40 percent response rate to the survey.
"Prospects decide where to buy in part based on the speed and quality of sales follow-up. Statistics prove that if you can get your prospects back to your store quickly, you will have a much better chance of closing the sale. We deliver the right communications at the right time to entice your customers to return. And whether it is sitting in your prospect's wallet or purse — or even on their dresser at home — the BeBack card is a concrete reminder of the value of doing business with your dealership," said Shenk.
Established in 2001 and headquartered in San Ramon, California, MediaTrac is a marketing technology company providing customized loyalty, retention, marketing, prepaid services, and media tracking programs for the automotive, retail, entertainment and hospitality