n the automotive industry, the ability to earn a greater share of a customer’s spend is the key to driving higher customer lifetime value. To that end, many dealers utilize flawed retention strategies designed to achieve a minimum number of service visits rather than maximize the revenue potential from every customer.
Affinitiv, the retail auto industry’s leading marketing technology provider, today announced the release of a free eBook for auto dealers: Turbocharge Your Owner Retention Program (ORP) Marketing. The eBook reveals the most effective way to measure ORP marketing results and shares nine marketing campaign strategies proven to maximize results from manufacturer ORPs.
This eBook will help you assess the effectiveness of your ORP, share four distinct case studies, and provide actionable strategies to improve results.
According to the 2019 Women’s Car Buying Report* by JoinWomenDrivers.com, female buyers account for 45% of new car purchases. In 2018, that translated into 7.74 million new vehicles bought by women. And in addition to those direct sales, other research indicates that women also influence or impact well over 80% of all vehicle purchase decisions.
Netflix is one of the most successful disruptors of the digital age. How did they do it? By developing a business model built on customer obsession and personalization at scale. So take note of their strategy: here are three takeaways from Netflix’s meteoric rise that you can use at your dealership.
As of mid-year 2018, used vehicle sales by new vehicle dealerships had exceeded $750M, according to NADA. The average dealership picked up a fraction of this amount—$9.6M, to be precise. Industry leader CarMax sold 721,512 used vehicles, taking home $14.3B in sales during its fiscal 2018 year. An added 409,000 vehicles were sold at CarMax wholesale auctions.
Messaging, relevancy, timing and method of delivery are all critical elements in both sales and service conquest campaigns. Successful marketing requires more than just the acquisition of data; you have to know what to do with it.
If your dealership is like most, the sales and service side of the house feel like two disconnected islands most of the time. The teams rarely come together unless handling reconditioning or aftermarket accessory installation.