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.[…]
An associate of mine recently told me an interesting story about their 75-year-old father, who purchased an import, rather than a domestic vehicle, for the first time in over 60 years. This was sometime around 2010. When it was time to replace his domestic minivan, the first thing my associate’s father did was to check[…]
In their new book, The Intuitive Customer, authors Colin Shaw and Ryan Hamilton contend that companies that try to fight declining customer satisfaction by lowering prices are going about customer satisfaction the wrong way. Instead, they state that the magic to winning customer loyalty is based on understanding what the customer will do next. An article in MediaPost,[…]
In a recent interview with Automotive News, Masahiro Moro, head of Mazda North American Operations, detailed Mazda’s plan to increase customer loyalty for both the OEM and its dealers. While his plan mostly revolves around vehicle quality and diversity, as well as shifting from a sales-focused goal to one of retention, it also includes a nationwide[…]
Dealerships today spend most of their marketing budgets on acquiring new customers. Those ads in the newspapers aren’t really meant for current of past customers, they are meant to attract new customers. The cost of customer acquisition ranges from 6 to 10 times more than the cost of customer retention, so what can your dealership do to increase[…]