Fixed monthly costs for regular expenses make it possible to budget with less concern about unexpected charges you can’t afford. Auto dealers have quickly caught on, as they’ve adopted prepaid maintenance plans, making services and sales worth everyone’s while. As ridesharing and food delivery becomes more and more popular, there is one question posed – do ridesharing and[…]
Everyone appreciates getting more value out of an investment than they initially put in. It’s not very often, however, that both the dealer and the customer feel they’ve profited as they see fit when the customer leaves the dealership. One party usually feels that they could have – or should have – gotten “more”. Imagine[…]
Extended warranties and prepaid maintenance programs bring in immense revenue to dealerships. But many consumers aren’t aware that they can purchase extended warranties and prepaid maintenance plans after they’ve left the lot. Customers with newer cars will likely receive their dealer’s service coupon emails, thinking they won’t be requiring them. However, as their vehicles approaches[…]
Statistics show that a customer who has a positive experience will tell 4 to 5 people about it, and a customer who has a negative experience will tell more than 20 people about it. In addition, they will usually leave a review expressing their opinions online. These reviews can make or break your online reputation.[…]
When offering an automotive prepaid maintenance program (PPM) to customers, what is the dealership hoping to get in return? Certainly, one answer is to gain long term customer affinity for the dealership. While that affinity is profitable, experience shows that customers who use a dealer’s repair facilities are much more likely to purchase a subsequent[…]
In today’s climate, consumers increasingly turn to family, friends, peers and even strangers to help make their buying decisions – decisions as broad as who to do business with, or as specific as which item to purchase. Having a solid strategy for creating brand advocates is more important than ever before, as too many bad[…]
One of the advantages of a Dealer Prepaid Maintenance Program (PPM) is that they span the generational gaps and appeals most anyone. Regardless of which generation consumers happen to be in, none of them like surprise repairs, or other expenses. That is why dealers focus on payments – and not price – when selling vehicles.[…]
Creating a loyal customer is sort of like getting married. The introduction is followed by a period of courtship and, if all goes well, commitments are made. Loyalty in the automotive world is something that everyone battles from the OEM level to the dealership. Did you know, however, that the longer you’ve had a customer the[…]
When we hear the term “Fixed Ops” we think of something that cannot be altered. The concept of the fixed ops variable is that it depends on the result of the various functions within a dealership, with the common goal of as car sales rise, so will servicerevenue. However, did you know your service revenue[…]
Prepaid Maintenance Plans (PPMs) have been used as an auto dealer customer retention tool because paying up front for services is a guaranteed way to get customers back into the service lane. However, the pricing and structure of many PPMs administered by third parties have not made the program very profitable for the dealership, and more importantly,[…]