Automotive customer retention strategies that really work
Five Straightforward Ways to Achieve Dealership Customer Retention
The goal is to retain customers – and the best way to do that is to know their wants and needs by heart. Here are five key strategies.
Target a Very Specific Audience
After you’ve targeted a niche audience – and your dealership will likely have multiple audiences to consider – then spend time learning everything there is to know about them. Don’t stop at gender and age. Also find ways to gather information about marital status, interests, income and psychographics (how they perceive themselves and what motivates them). The old axiom that knowledge is power rings true here. The more specific and precise your data about your customer, the more effectively you can create a customer experience that suits their needs. Nothing is sweeter to a prospective customer than discovering a company that anticipates his/her needs. The magic happens when you reveal a marketing strategy with that customer uniquely in mind.
Take Time to Build a Long-term Relationship
If you want to achieve connection and to increase retention with your customers, then find opportunities to create another purchase down the road. Using inbound marketing campaigns is an excellent approach. The strategy involves developing useful resources that your customer base will gain the support they need to benefit from them. By making available relevant information, or rewards for their loyalty, you are conveying to your clients that you care about them, and are not taking them for granted. Personalized service and thoughtfulness, combined with the careful study of the right data, can go a long way towards securing customer loyalty over months and even years.
Give Your Customers Real Value
Nothing will inspire loyalty as much as quality of service. Do what you need to do to get this right. Be in continual communication with your clientele to learn what they are thinking. Be patient and invest your time and effort to discover what your customers are looking for. Then commit yourself to find ways to respond. The investment you make in listening to your customers will improve your quality of service tremendously, build trust and loyalty, and set you apart from the competition.
Stay Current with Industry Developments
We all know of businesses that seemed to be fixtures in their sector, but then faded from view because of a lack of responsiveness to changes in the marketplace. Don’t let that be you! There will always be a myriad of choices presented to consumers. Innovation translates into added value. You are responsible for keeping up with trends as part of your ongoing conversation with that most important person, your customer. Listen to him or her, not your competitor, if you desire to innovate well. Remember, you want to be the engine of ingenuity, not the caboose of a fading fashion.
Be Proactive and Think like a Big Business (even if you’re not)
Whether it is a spreadsheet or a fancy in-house system, implement a tool to gather useful information about your customers. Personal contact is a superlative way to gather meaningful facts about what your clients want. Social data is another oft neglected avenue that is available through means such as Facebook Analytics (and it is free). Beware of the notion that what worked two years ago will do the job now. Always be looking to reframe and update your information. Be humble enough to accept that there will always be more that you can learn about the needs of your clients and how your products/services can impact their lives for the better.
Here are helpful resources:
- To Succeed as an Entrepreneur, Know Your Customer
- 7 Ways to (Really) Know Your Customer
- Know Your Customers
- Is Your Content Marketing Strategy Customer-centric? Here’s Why It Needs to Be
Excellent Starting Point: Automotive CRM Software
AutoAwards has developed Flexstat, a powerful automotive CRM software program, to help you fine tune your data collecting process. Flexstat is designed to provide you with information about your clientele that is precise, detailed, and accurate so that you can create the marketing programs that lead to dealership customer retention.
We are confident that our customer management system will give you the insights you need to create meaningful and long term engagement with your customer base. At AutoAwards, we believe in the growth potential of your business. Come and talk with us about how we can make good things happen. Contact our office today to talk about your automotive customer retention strategies or call us at 309-696-6000.
Since our founding in 1991, AutoAwards has been widely recognized as the industry-leader in automotive and marine loyalty marketing, earning longstanding relationships with many of the industry’s most successful dealer groups and OEMs. AutoAwards understands the #1 predictive factor for dealer growth and profitability. Customer loyalty is the most successful way to build revenue. AutoAwards has always recognized the need for top notch, highly creative, effective loyalty strategies in large and small businesses alike. Contact us online to talk about dealer loyalty or call (800) 405-4227.