A recent article in Automotive News relayed the story of Obi Obeke and how he had sold 39 cars to world-famous boxer Floyd Mayweather. The article explains how Okeke has been willing to do whatever it takes for his client to keep him satisfied. There’s little doubt that Floyd Mayweather probably gets what he wants when he[…]
I recently had the pleasure to work with a very innovative dealer who implemented the concept of “dealer currency” in his dealership with great success. Dealer currency allows you to eliminate cash discounts on sales (in both Variable & Fixed Ops) by instead issuing a form of “dealer dollars,” redeemable anywhere in the dealership for the[…]
We all want new customers. And it’s certainly mandatory to retain a customer to create a loyal one. But how we market our dealerships is increasingly important — as each form of marketing will deliver different results. The three terms: loyalty, retention and acquisition marketing, all have their own distinct meanings and should be used[…]
New data from DMEautomotive reveals power of OEM/PPMs lasts well beyond expiration While most dealerships offer some degree of prepaid maintenance (PPM) or complimentary dealer and OEM maintenance plans, many question how effective these plans really are and if they do in fact provide the intended retention and ROI. Good news—research shows that they do and additionally[…]
The largest complaint that consumers have when considering a vehicle purchase is the fact that the process takes too long. Even with all the new technology processes that dealerships have employed over the past few years, the purchase process is still as long and cumbersome as it was twenty years ago. AutoNation recently started to[…]
When did you last walk through the customer entrance of your dealership and look at what is truly being experienced by the customer? Forget for a moment whether a sales consultant’s work area is messy, or if there are smudges on the windows. Let’s look a little closer at what a customer could see, hear[…]
As we enter 2013, the business world remains in a state of uncertainty. Will the economy recover? Will new taxes be in place? Regardless of what happens, your key to success will lie in one thing: customer loyalty. Customer loyalty builds your business when times are good and keeps you in business when times are bad.[…]
A couple generations ago, if you didn’t carry cash on your person, perhaps a personal check was accepted at your favorite store. Then credit cards became an option, followed quickly by debit cards. And now, with technology changing seemingly overnight, two new payment options are becoming available to consumers at select and very notable retailers.[…]
“The British are coming” shouted Paul Revere in his famous midnight ride frantically trying to warn colonists of the impending attacks by England. Did you know that statistically only 4 in 10 people cared about this news? Only 40% of colonists supported the revolution, with some historians even estimating support in the 20-30% range. The[…]
Competition in business is usually a good thing. Sure, we’d all like to have the market cornered, but without a little competition we would perhaps never figure out ways to improve our products or services and keep our customers coming back. In an interesting article on Infusionsoft’s “Big Ideas Blog,” a few examples of businesses thinking outside[…]