Customer Retention Hacks for Automotive Business – Success Secrets Shared!by Muhammad Waleed Digital Marketer
$243 is found out to be the average value of a single customer lost. Well, it doesn't sound like a big loss but let's do some basic math.
Losing five customers in one month means your business will waste $1,215, and moving on, it multiplies to produce $24,300 on the loss of 100 customers in 6 months down the lane.
Now, this is something alarming.
That's why businesses focus on retaining existing customers no matter where their business stands in the growth path. There's no doubt that a business grows and keeps going when new customers come to know about you but, you have to look further. You have to look at growing your customer base.
Here's a killer fact by Marketing Metrics reports. It claims that the success rate of selling to an existing customer is ranged from 60-70%. In contrast, the chances of selling the same service or product to an old customer result in 5-20% success.
That's a big difference!
Once you're convinced and want to improve your customer retention rate, it is important to find ways to do it. So, let's talk about it.
7 practical customer retention hacks for your automobile business
Show Some Welcome Effort
It is said that "You never get a second chance to make your first impression," and that's true. Automobile purchasers have many options at hand to get the vehicle they need to buy for them. They always have choices to make, and now your responsibility rises more than ever. It is up to you how you stand out among others and make those customers' your customers.'
One perfect way to make them remember you is, offering a customized customer welcome kit within one week of vehicle delivery. It is one of the biggest opportunities to jump-start customer retention with a car-buyer.
Do Proactive Customer Monitoring
A proactive approach is actually doing something good before something bad happens.
It is always an effective way to retain customers for your auto repair business. If your business stores miss out on ‘automotive repair shop management software’, you're doing yourself harm. Because the system never lets you forget.
Here's a pro-tip. Remember your customers and make them remember you. How?
Communicate with them. Even after a person has done purchasing from you, ask him/her about the post-purchase experience. Remind your buyers to keep their vehicle updated, tell them when it is the best time for a car wash, or ask them to give feedback about you.
Offer Complimentary Maintenance
You may be one of those business owners who just focus on closing a sale, but your task is not yet finished simply because the paperwork is signed.
In fact, now is your turn to keep them connected and leave an excellent image on them. When you've sold the car, ask them to participate in a dealer-owned complimentary maintenance program. Offer them to get free recurring service needs for over a year after registering for the first time. It increases the likelihood that customers return for their next purchase.
Turn grievances into opportunities.
Remember that the better the customer service, the higher the customer retention is. There will be complaints in every business, but how you react to those complaints actually brings the results.
Consider complaints and customer issues as opportunities to communicate with them.
Take that step, engage with your customers without showing an annoyance. Use that chance to resolve the problem and to thank them for additional services. This way, you can also realize where you lack and what to consider next time when serving your customers. Don't take anything on nerves; in fact, take it as a lesson.
Build Customer Loyalty Programs
To keep the customer-owner relationship strong, you have to establish trust and respect with retaining existing customers. And it can be easily done by starting some value-added programs like a loyalty program. Such initiatives provide occasions to maximize revenue from people you already know and create personalized touchpoints with customers.
Business owners who don't make an effort to bring repeat customers lose many profit-generating opportunities. You can simply offer them discounts on oil changes, tire replacements, or can brake pads their vehicle whenever they need in the next five years. When customers feel connected, they are more likely to return for service or new purchases.
Add an ‘Automotive Repair Shop Management Software’
Implementing a ‘repair shop management system’ or customer relationship management system allows you to automate your simple routine tasks. Be it saving customer information, recording sales data, tracking repairs, monitoring customer purchases, or reviewing reports; your system can do it all for you.
Let's accept it: You cannot make and implement customer retention strategies on paper. You have to analyze all the data before creating something worth-applying, and without an ‘auto shop billing software’ you can't do it at all.
Get Involved in Your Community
Almost 8 out of 10 people love to connect with businesses that are relatable to them. For example, suppose someone plans to get their car insured. In that case, they will be searching on the internet about the best car insurance companies near them, and they'll be keenly observing the ones who are interacting with the community.
Don't shy away to avail this opportunity. Embrace it! Yes, it needs little effort in staying updated, but it can yield remarkable results. Business owners or customer relation managers can also help the community by providing solutions to their generic problems online.
The more customers that keep connected and continue to come to, the more likely you will achieve your business goals. Also, investing in customer acquisition is far more profitable than investing in retention.
The difference between businesses that grow and those that don't is customer retention.
An automotive business relies on customers, and now it is up to you if you make or break this relationship. Focus on repeat business because it is something that you'll have even when there is a crisis in the world.
Created on Mar 22nd 2021 01:20. Viewed 142 times.