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How Loyal Are Your Customers? The Importance of Customer Retention Programs

Written by Carrie Cadwell | Sep 5, 2017 4:06:00 PM

Customer retention is crucial to the success of any business. This is even more true in the automotive industry, where dealerships rely heavily on the constant revenue created by service plan subscriptions to supplement the somewhat unforeseeable revenue generated by auto sales.

Consider these facts. Marketing metrics show that it is 6-7 times more expensive to sell to a new customer than an existing one.  It is 50% easier to sell to an existing customer than to convince a prospective customer to choose your dealership. Marketing research proves that it is just as import to invest in customer retention as it is to invest in customer attraction.

There are many factors that contribute to establishing and maintaining strong relationships with customers. It is crucial that your customer have a rewarding experience from the moment they enter your doors. Your business should surpass consumer expectations and anticipate and fulfill their needs continuously.

An effective customer retention program focuses on maintaining and strengthening customer relationships even after they leave. This is done in part by ensuring that your dealership offers an attractive service plan that meets customers' maintenance and repair needs. It is also equally important that your dealership maintains regular contact with your customers. An effective way to do this is obtaining the customers' contact information so that they stay informed of events, sales, and product offerings as well as vehicle maintenance needs.

Are you interested in developing an effective customer retention program? Or perhaps you already have one that needs a bit of improvement? Let us use our experience and expertise to develop a customer maintenance plan and customer contact program for your business that can be implemented in as little as 10-14 days! Did we mention that there are no upfront fees? Contact us or download our e-book for more information.