In the automotive world, the bottom line is that many dealerships experience very high turnover rates with employees, especially in sales. Our world is one of high stress, long hours and feast or famine. (This might not be as true in the service departments.) However, the face of your dealership to a customer who bought[…]
Dealer-branded prepaid maintenance (PPM) programs that are 100 percent funded by customers are boosting service revenue by 15 percent and customer retention to 60 percent (and even higher). These findings and other auto dealer reports are featured in a new white paper from Performance Loyalty Group. Ancira Winton Chevrolet in San Antonio, Texas, enjoys $80 additional up-sell per repair order[…]
With NFL football fans gearing up for another season, DIRECTV is once again offering new customers the 2014 NFL Sunday Ticket for free along with deeply discounted prices and an upgraded DVR Genie on several of the programming packages. What’s the catch? The special prices are valid for only the first twelve months of a[…]
I recently read an article about a recent Forrester Report titled “Banks and Retailers: You Cannot Price Your Way Out of Bad Customer Experiences.” It was quite fascinating but there was one part that really resonated with me. In every instance, when a customer is making a decision on whether to be loyal to your business or[…]
The whole goal of this series is to help dealers understand that there is no need to be afraid of your data. It is one of the most valuable assets a dealership has and, when used correctly, can increase revenue by improving the effectiveness of any marketing. Previously in this series, we covered segmentation of[…]
This blog is the first in a series I plan based around how to better use dealer data in marketing to customers. There is a reason that ‘Big Data’ has been a hot topic in the automotive industry for the last few years. Many retailers in other industries are using it quite successfully to target[…]
The Ritz-Carlton hotel chain has an exciting customer service policy that empowers every employee with $2,000 to satisfy any guest without approval. This isn’t a one-time power but it’s per incident. Some business owners like the general idea but express concerns about providing employees with this much freedom. They worry that employees will either abuse the empowerment[…]
A new benchmark report published last month by RSR Research, provides some interesting information about retailers and the shifts in focus and importance from 2012 to 2013. According to the study, 61 percent of retailers feel customer retention has become more difficult, and building loyalty has become more challenging. This is a 10 percent increase from 2012. The study[…]
One challenge all businesses face is creating loyal customers. As business owners, we try to analyze our customers to figure out what methods we can use to build that base of customers which is so important to future growth. Without loyal customers, your efforts at customer acquisition quickly go from growing your business to replacing defecting[…]
There are many benefits to having an automotive loyalty program at your dealership to increase business and customer retention. You must be mindful, however, of some dangers that exist if the program is not implemented and administered properly. Loyalty programs seek to reward behaviors. For dealerships, automotive loyalty programs exist to reward customers for spending money at[…]