Acquiring a new customer can cost five times more than retaining an existing one. However, in a world where customers are more informed, more demanding and savvier than ever, retaining existing customers can be challenging.
Customers need a good reason to come back to your dealer shop. You can provide it by offering an excellent customer experience. Statistics show that 84% of businesses that improve customer experience get higher revenue. A fantastic experience when buying a new car, accessories, or servicing a ...
Good marketing is crucial to the success of any business. From print media and digital ad campaigns to social media marketing- these all play a significant role in creating a brand image. However, there is one thing that is perhaps the most important tool for spreading the word about a business. ...
If you want to meet your sales goals, you are going to need more customers. That may sound logical, but it's not necessarily the case. According to recent findings, the success rate of selling to an existing customer is 60-70%, while the success rate of selling to a new customer is only 5-20%.
Repeat business is the proverbial 'bird-in-hand.' Your current customers are fertile ground for cross-selling. It's your golden opportunity to wow them beyond belief. Take the initiative, know your customers and understand their needs. Do this and your long-standing customers will remain loyal and ...
Dealers often focus their marketing efforts on finding new leads and bringing in first-time customers. While those strategies are important, the most successful dealer managers know that retaining their customers is also essential. We wanted to highlight a few best practices the most successful ...
Proper marketing is crucial to the success of any business. From print media and digital ad campaigns to social media marketing- all play a significant role in creating a brand image. However, there is one thing that is perhaps the most important tool for spreading the word about a business. That ...
Did you know that attracting a new customer is five times costlier than retaining an old one? Also, by increasing customer retention by only 5%, you can boost your profits by 25-95%. These statistics apply to all industries, including the automotive sector. Dealerships are increasingly realizing ...
Customer retention is vital to growing a dealership's business and profits. When a customer remains loyal throughout the life of a vehicle, it's a sign they trust a dealership.
Car dealerships are faced with disadvantages in today's fast-paced market. The belief that car purchasing can be a painfully long process is based on many old traditions at car dealerships that persist today. Faster sales can be accomplished by improving in three different areas. Each of these ...
