The Road to ROI with F&I

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.    

Topics: Customer Service, Customer Retention, customer experience

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%.

Topics: Customer Service, Lifelong Customers, Dealership Customers, Customer Retention

You see customers entering your dealership, and some buy cars while others don't. There are ways to get more customers in the door and improve your sell-through percentage. Your dealership has the vehicles people want in stock, but you are looking to increase your sales quota and grow your business. Improving your level of customer service and building long-term relationships can help. Here are a few ways to improve your dealership's customer service:

Topics: Customer Service, customer experience

Going digital in auto dealerships has become more of a priority with COVID-19 wreaking havoc on customer’s willingness to venture to a dealership and/or allowing customers on-site. As a result, having to offer retailing through online means is becoming a new norm.

Topics: Customer Service, Dealership Customers, Digital Retailing

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 your successes will continue to grow. 

Topics: Customer Service, Lifelong Customers, Dealership Customers, Customer Retention, customer experience

Businesses can prosper when they focus on their sales processes and provide excellent customer experiences. This is especially true for automobile dealerships, where the quality of service provided is crucial to customer retention.

Topics: F&I, Finance and Insurance, F&I Managers, Customer Service

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.

Topics: Customer Service, Dealership Customers, Customer Retention, customer experience

Potential customers have more car-buying options than ever before. How can you make your dealership outshine your competitors? Here's four easy ways to start.

Topics: Finance & Insurance, Customer Service, customer experience

Every dealership's goal is to have customers return again and again for repeat business. Here's the secret…actions, not words, show customers you appreciate their business.

Topics: Customer Service, Customer Retention, customer experience

Be Ready to Deliver Excellent Customer Service

We all know that online technology allows most of your customers to arrive at your dealership lot already knowing the car, or cars, they are ready to test drive and negotiate for pricing. Not only are most of your customers prepared to see the car that they are ready to purchase, they probably have read articles like the one found on U.S. News & World Report.

Topics: Customer Service, customer experience