Although creative is still an important component of marketing campaigns, it’s hard to dispute that marketing based on customer data delivers the best results. For example, in the average dealership the top 20% of customers deliver 79% of gross profits. Meanwhile, the bottom 20% of your customers result in a net loss for most dealers. Your marketing messages and frequency … [Read more...] about Why Marketing Based on Customer Data Delivers the Best Results
retention
How Bundling Retention Incentives Benefits Dealers and Consumers
Does customer retention have a place in a market shaped by ridesharing, subscriber services, pod cars, autonomous vehicles, Carvana and DriveTime, and ride-hail services such as Uber and Lyft? And as the retail auto landscape continues to morph into sales and distribution models that would have been science fiction just a few years ago, is the pursuit of customer retention … [Read more...] about How Bundling Retention Incentives Benefits Dealers and Consumers
How to Leverage Data to Create More Service Department Opportunity
You worked hard to build your relationships with customers—you know their cars inside and out. Naturally, they’ll come to you when they need service and repairs, right? Well, according to a recent study by Cox Automotive, you may be losing more customers to independent repair shops than you think. In fact, the study shows franchised dealers are getting fewer than one-third … [Read more...] about How to Leverage Data to Create More Service Department Opportunity
Set Your Dealership Up for Lifetime Profits By Giving Customers What They Really Want
Customers . . . they seldom know exactly what it is they are looking for when shopping for an automobile. So, when they find something they like and they feel themselves getting close to buying, they instinctively give the “price” objection. This is little more than a reflex defense. We all do it sometimes. Then, what is it customers want? Value, protection, and peace of … [Read more...] about Set Your Dealership Up for Lifetime Profits By Giving Customers What They Really Want
Don’t Neglect the Relationship Part of Your Dealership CRM
Do you remember what your CRM does? If you say it’s for tracking ups, leads, sales, and customers, of course you’re right, but we sometimes forget the meat-and-potatoes purpose for this wonderful technology. So, my question is: Are you neglecting the “R” in CRM? Some forget that the “R” refers to relationship: building, nurturing, and retaining customers to your brand, … [Read more...] about Don’t Neglect the Relationship Part of Your Dealership CRM