Seminars ran throughout the expo – covering a wide range of interesting industry topics – so we wanted to share with you our key takeaways…
Speaker: Lyn Howdon, Mark Fretwell Chryslis Loyalty
Retention is the single most valuable thing for growth, and valuing your existing buyer is more essential than ever for auto dealers.
Once a shopper leaves a dealership in their new car, getting them to come back for regular service or car maintenance can be tricky. As a result, generating revenue from existing relationships is becoming more crucial but, how can we make car owners commit to their next visit?
1. Find our how they want to be treated – no two drivers are the same
2. Make anyone who enters your dealership feel valued, by addressing their wants and needs
3. Start the retention process much earlier – don’t leave it as an afterthought
Creating a post-purchase rapport that lasts through the entire customer lifecycle isn’t something the just happens. You must invest time and resources into maintaining existing connections, just the same as your do with new contacts. So, what can you do to build a more loyal purchaser base?
1. Right people – it sounds simple but make sure you’re not trying to fit a round peg into a square hole.
2. Right process – not everyone will respond well to an off-the-shelf model, so be prepared to be flexible and let people come to you on their own terms
3. Right time – be careful to target consumers with retention or renewal processes at the appropriate point in the cycle. This is usually while their car purchase is still ‘front of mind’
A positive user experience can be the difference between a lifetime of loyalty and someone taking their business to competitors. Car buyers are looking for instant satisfaction and seamless interaction from start to finish – a theme not exclusive to the auto industry. To meet this standard, dealers must pay more attention to their audience’s needs.
It’ll be interesting to see whether, at AM Live 2020, we’ll see dealerships making a memorable user journey top of their priority list – because after all, it only takes a few clicks to take their loyalty elsewhere.
Find out how we can help with customer retention using the DealTrak platform here.