Today, the Big 3 automakers account for only 44% of the market – a 26% decline from 2 and a half decades ago. In this short amount of time, consumer loyalty is no longer within reach, as the average customer retention rate across the industry has sunk below 50%. This amounts to dealers losing more than half of their customers each year.
Why the sharp…
ContinueAdded by Doug Van Sach on January 6, 2017 at 9:25am — 1 Comment
What would you do if a customer was injured at your dealership and you were at fault? I don’t mean serious injury or anything like that. Perhaps just a bump or scrape? Most businesses would apologize or, at the very least acknowledge the mishap to the customer. Perhaps send some flowers or a gift card. You certainly wouldn’t want to ignore it, right?
Well,…
ContinueAdded by Mike Gorun on December 20, 2016 at 9:41am — No Comments
With automakers expecting a slow-down in sales we should soon see how each manufacturer chooses to respond.
Typically, when looking to boost sales, OEMS add incentives or special lease deals. However, that may not be the right strategy. These types of campaigns tend to end up starting a domino effect that creates a catalyst for competing manufacturers to offer…
ContinueAdded by Steve White on November 3, 2016 at 10:23am — 1 Comment
According to a study by Colloquy, there are 3.3 billion loyalty program memberships in the United States, which averages 29 per household. Yes, loyalty programs are everywhere. From grocery stores, to gas stations and fast food restaurants, chances are high that a store you’re about to enter for the first time has a loyalty program. And the one thing that most of these…
ContinueAdded by Mike Gorun on April 12, 2016 at 7:59am — No Comments
Our industry does a lot with gimmicks. You’d be hard pressed to drive through an auto mall or other area dense with dealerships and not see balloons, giant inflatable gorillas or wavy tube men. On nice days, we attempt to lure shoppers in with hot dogs and sodas. We incentivize test drives. We offer televisions, iPads and Playstations with purchase. There’s always a gimmick…
ContinueAdded by Paul Moran on February 11, 2016 at 6:00am — 2 Comments
In order to decrease bounce rates, if a customer clicks on an ad – whether that’s a banner ad, PPC, email ad or one specifically targeted for a mobile device – it is not a good practice to simply take that customer to your home page. Forcing a consumer to then do a second search for the information promised in the ad is a recipe for failure. Best practices prove that…
ContinueAdded by Brian Cox on June 16, 2015 at 7:17am — No Comments
Consumers have been showrooming in retail stores for quite some time now and, while many retailers don’t like it, they’ve pretty much resigned themselves to the fact that it’s going to happen. However, one surprising argument posted in an article by speaker, trainer and consultant, Bob Phibbs, went so far as to make the claim that showrooming is akin to stealing.
In his…
ContinueAdded by David Metter on June 12, 2015 at 11:21am — No Comments
A 2014 study by Autotrader showed that consumers are visiting fewer dealers in their car shopping than ever before. This is certainly a by-product of the availability of information. No longer do consumers have to visit multiple dealerships to find the right vehicle. They simply sit in front of their computers and browse a dealer’s inventory on their website or, more commonly,…
ContinueAdded by David Metter on June 5, 2015 at 8:27am — 1 Comment
As a husband and father to 5 daughters, the cartoon above is, at times, a pretty accurate description of my life. I’m sure all men in similar situations have found that couch or chair they inevitably get placed in while the females in their lives try on shoes, clothes or whatever they may need. In reality, I shop more than my wife and kids… they just don't go…
ContinueAdded by David Metter on May 12, 2015 at 1:53pm — No Comments
At the end of March, Amazon announced the launch of what they’re calling “Amazon Home Services.” This new service by Amazon enables customers to order services for their homes without the inconvenience of having to search for these service providers, obtain references and obtain pricing. Services range from television installation, painting contractors, electrical work and……
ContinueAdded by Richard Holland on April 16, 2015 at 8:18am — No Comments
“We work too hard to come within arm’s reach of the prize only to have our hands cut off just before we seize it. For those of us climbing to the top of the food chain, there is but one rule – hunt or be hunted.” – Frank Underwood, as played by Kevin Spacey in the Netflix television series, House of Cards.
This quote epitomizes the struggle that car…
ContinueAdded by Timmy D. James on March 16, 2015 at 9:04am — 2 Comments
On January 11, the New England Patriots faced the Baltimore Ravens in a contest that would dictate which team moved onto the AFC Championship game. Going into the game as heavy favorites to win, the Patriots quickly found themselves losing the game 14-0 quickly. Undeterred, they powered through trading touchdowns with the Ravens for the remainder of the game to ultimately…
ContinueAdded by Brian Cox on January 19, 2015 at 8:48am — No Comments
Starbucks recently announced plans to roll out a delivery service in some key major markets. This follows on the heels of an initiative which allows customers to place their drink orders via smartphones, so as to minimize wait times.
Starbucks has a very loyal customer base and many locations…
ContinueAdded by Richard Holland on November 28, 2014 at 8:47am — No Comments
In my last blog article, I discussed the importance of building rapport with leads through the use of “Why Buy From Me” and “Lead Response” videos personalized for each customer. Now I would like to take this one step further -- Building rapport should in fact start much earlier than simply upon the receipt of a lead.
Think about the first contact a customer…
ContinueAdded by Timmy D. James on November 24, 2014 at 8:58am — 1 Comment
Competition in business is usually a good thing. Sure, we’d all like to have the market cornered, but without a little competition we would perhaps never figure out ways to improve our products or services and keep our customers coming back.
In an interesting article on…
ContinueAdded by Mike Gorun on October 31, 2014 at 8:38am — No Comments
Social media can be a tricky thing. Finding and publishing content that a business’s audience will both enjoy and interact with can be challenging. And as Facebook exposure for business pages is increasingly diminishing, businesses are more dependent on audience engagement than ever for those elusive likes, shares and comments. The type of content posted is highly important…
ContinueAdded by sara callahan on August 27, 2014 at 8:06am — No Comments
It may be a simple truth, but it's a valuable one. Tom Peters reminds us not to stoop so low as to badmouth the competition. …
ContinueAdded by MANNY LUNA on August 9, 2014 at 11:30pm — 2 Comments
Added by Paul Potratz on May 21, 2014 at 12:24pm — No Comments
Added by MANNY LUNA on October 5, 2011 at 12:30am — No Comments
Added by Grant Cardone on March 11, 2010 at 5:56pm — 2 Comments
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