The Road to ROI with F&I

Top Five Strategies to Improving Dealership Customer Retention

Posted by Vanguard Dealer Services on Jul 26, 2021 10:00:00 AM

Auto dealership owners need to focus on one key concern — providing excellent customer service that leads to retention. It is vital to do everything you can to transform first-time customers into lifelong clients.

Luckily, retaining a successful relationship with your current clients is easier and cheaper than obtaining new customers. Follow these top five strategies to improve your dealership's customer retention and boost sales.

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

Increase Sales by Extending the Lifetime Value of Every Customer

Posted by Vanguard Dealer Services on Nov 9, 2020 9:30:00 AM

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%.

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

Four Ways Digital Retailing Helps You Reach Customers [When They Can't Come to You]

Posted by Vanguard Dealer Services on Oct 5, 2020 9:30:00 AM

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.

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Topics: Customer Service, Dealership Customers, Digital Retailing

Customer Retention: A Game Changing Metric

Posted by Vanguard Dealer Services on Sep 9, 2020 1:22:11 PM

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. 

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

Creating the Customer Experience for Better Retention

Posted by Vanguard Dealer Services on Aug 24, 2020 9:30:00 AM

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 dealerships leverage to create the ultimate customer experience and increase retention.

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Topics: Dealership Customers, Customer Retention

Top 4 Strategies for Dealerships to Increase Customer Retention

Posted by Vanguard Dealer Services on Jul 27, 2020 10:18:10 AM

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 that transactional, one-time business practices no longer work. They have to focus on strategies to not only attract but also retain customers. Customer retention has positive outcomes for dealerships, including reducing costs, enhancing customer lifetime value, increasing competitiveness, and boosting profitability. This article outlines four ways for dealerships to increase customer retention, and consequently harness its benefits.

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Topics: Dealership Customers, Customer Retention, customer experience

Key Tips for Increased Customer Retention for Dealerships

Posted by Vanguard Dealer Services on Jun 29, 2020 9:30:00 AM

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.

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

What Dealers Can Do in Preparation of Reopening

Posted by Vanguard Dealer Services on May 11, 2020 9:27:54 AM

Reopening your dealership after COVID-19 will not be quite as simple as returning to your normal business hours. Before reopening, establish a plan for continuing your online presence, redesigning your waiting room, and implementing new policies as needed to keep your customers safe in order to successfully reopen and stay open.  

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Topics: Dealership Customers, Dealership Online Sales, Online Sales

3 Ways to Speed Up a Customer's Experience

Posted by Vanguard Dealer Services on Jan 6, 2020 9:30:00 AM

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 areas is based on building strong relationships and effective communication strategies:  

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Topics: Dealership Customers, Customer Retention, customer experience

3 Strategies to Improve Customer Retention

Posted by Vanguard Dealer Services on Jul 29, 2019 10:30:00 AM

Every dealership's goal is to have customers return again and again for repeat business. Here's the secret... Customer Services.

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Topics: Customer Service, Dealership Customers, Customer Retention

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