11/16/2020 05:26 PM
You want your sales reps to build strong relationships with their clients and this article will explain how to do just that. Giving a consistent experience will build loyalty & in-turn, your ROI. You should also provide value to your clients and seek feedback to develop those relationships. Below are five tips that you can implement to create an exceptional car buying sales experience. These tips will also help you maintain the trust and loyalty of your clients.
Retention Is Important For ROI, Loyalty & Growth
Customer retention is an important part of growing a car dealership. Acquiring new customers will cost much more than keeping existing ones. This is why it is critical for dealerships to focus on customers coming back. In addition, it is important to note that the average cost of acquiring a new customer is five times higher than the cost of earning repeat business.
Moreover, most dealerships only retain a percentage of their previous customer base. This means that a good portion of customers are ripe for conquest. While these customers may not be ready to buy another car from your dealership anytime soon, they are still a prospective prospect for referrals and up-sells. Luckily, there are some strategies that can help you improve your chance at winning them over again and again.
Map Out a Consistent Customer Experience
To provide a high-quality customer experience, map out consistent touch points for every stop in the customer journey. Every person involved with a customer's journey should have the right information and insight. Make sure every member of your team has access to the same information and insights, and empower them to fulfill customer needs and expectations. Start by asking yourself: What can I do to improve the customer sales process at my car dealership? Can it be faster, more simple?
A customer's experience will depend on the way you respond to problems. If you fail to address customer concerns on time, your customers will become angry, frustrated, or anxious. If you repeat these mistakes, the issue will only escalate and cost you more money, and could even degrade your reputation when they ultimately tell their friends. In order to avoid such scenarios, map out a consistent customer experience for your car dealership.
Care For Your Customers & Provide Value
Customer delight is the key to success in any business, especially in the auto industry. It not only encourages higher retention rates, it also unlocks future revenue potential for your dealership. The most effective way to delight your customers is by surprising them with an unexpected perk, such as free car delivery, a ride back home after they bring in their car to be serviced, or maybe a car wash token on the house after their new car purchase. Go the extra mile and they'll stay loyal to your dealership for years to come.
Consider personalization as well. Many customers are not used to receiving a very personalized service from businesses, so make it a point to include personalization wherever possible. Personalized service could be following up on reminders, customized social media shout-outs, or even a simple thank you card will show that your dealership actually cares about its customers and their needs. These things not only make your customers happy, but they also differentiate you from "any old auto dealership."
Keep a Pulse On Changing Customer Needs & Preferences
One of the most important ways to build client loyalty is to keep a pulse on changing customer preferences. In this day and age, more than ever, consumers are keen with surveys or polls, so it's essential for companies to stay ahead of the trends. To do so, organizations must keep a pulse on changing consumer preferences, and act quickly to improve their customer experiences. By proactively seeking customer feedback, organizations can stay on the cutting edge of the newest trends and preferences, and respond quickly and effectively to improve the customer experience.
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Reward Your Most Profitable VIP Customers
When creating a VIP program you have to categorize and prioritize past clients. To identify your most valuable customers, use the 80/20 rule and also consider things such as last purchase date, monetary value, or buying frequency. For example, if a VIP customer is an avid traveler, be sure to differentiate from all the other freebies they’re getting & go all out. A high end stainless steel water bottle will be kept around 10 times longer than a cheap little key chain. You can also incentivize repeat buyers with a different freebie or gift box after each new sale.
If you take the time to build a trusting relationship with your customers, they will not only come back, but they will also share their experience with others. This leads to great word-of-mouth advertising, which is the best form of marketing for any type of business. This way, you can keep the conversation going and reward them for doing more business or sending their friends your way.
All in all, developing relationships with new and old customers is a monumental task. It is vital for auto dealers to be aware of the fact that their customer's experience begins before they even visit the dealership to purchase a new or used vehicle. By building a relationship with your customers and giving them the service they need, you will be on your way to offering the best customer experience possible and earn your customers' loyalty. Using these tips in the right ways will ensure your customers stay happy.
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Timmy's 10 Second Takeaway
5 Auto Dealership Client Relationship Building Tips To Keep Customers Happy:
- Retention Is Important For ROI, Loyalty & Growth
- Map Out a Consistent Customer Experience
- Care For Your Customers & Provide Value
- Keep a Pulse On Changing Customer Needs
- Reward Your Most Profitable VIP Customers