Find out how Hiley Hyundai delivered 74% new shoppers to their website. VIEW CASE STUDY
In today's world a Service Department's most valuable asset, after it's people, is it's customer database. As a consultant during my first visit to a store I am working with I always ask these 2 questions:
1. How many total customers are in your database?
2. How many are Lost customers?
I always get an answer to number 1, but a blank stare on number 2, "What's a Lost customer?". Knowing this number is key to understanding and growing your business. An Lost customer is any customer who has not had a transaction with your Dealership over $50 in the last 12 months. If you haven't seen them in over 12 months they are either are already a lost customer or you are on the cusp of losing them.
In the typical Dealership the percentage of Lost customers in relation to all customers is over 50%! Can you imagine 50% of your customers just disappearing! How do we get them back? "I know we'll do a letter with a coupon".... That failed strategy will be the subject for my next blog.
Do you know your % of Lost customers? leave me a comment if you dare....