Many of the benefits of keeping tabs on your customers’ experiences are instinctive: you naturally want to please your customers and ensure that they are happy with your products and services. You value your loyal customers and want to keep them coming back. And let’s be honest: most dealerships carry the same products. The manufacturers invest in the quality of those products and the brandname recognition, so what sets your business apart from others is the experience your customers have in your store and with your employees.
Staying connected to your customers has a better ROI than attracting new sales Attracting new customers is time consuming and expensive.
The marketing efforts and advertising campaigns required to reach a new audience are not only expensive, they are a lot of work. Most dealerships will outsource the ad creative design and the ad buys to pricey agencies, and that’s not even counting the cost associated with the ad space itself, or the time required to nurture new contacts into actual sales. Once you add up the advertising and other marketing campaigns, plus the sales effort required to cultivate the relationship, it turns out that acquiring a new customer can cost up to 5x what it costs to keep existing customers. Customers are loyal…until they aren’t. Just one unaddressed poor customer service experience can cause a third of buyers to take their business elsewhere, and more than 90% will jump ship after repeated poor experiences. The problem is that you will likely not know that they’re unhappy if you’re not making an effort to connect with them. Studies have shown that a tiny percentage of customers–as few as 1 in 26– will raise an issue to you unsolicited. The rest just go away. READ FULL ARTICLE>>