I will admit, I haven’t been in this industry all that long, but it seems like we often are victims of over analyzation and miscalculation. We’re pretty good at selling vehicles, just bring me the customer and SHAZAM, let me work my magic – SOLD! Often we struggle at retention, retaining customers and retaining employees seems to be an aspect of the business we are always working on.
The big obstacle that we put in front of ourselves is how do we retain our current business (Service, Sales, Parts) while earning new business? I don’t want to sound over-simplistic, but it really is about listening to and doing what is best for your customer. The concept of retention extends to our employees too; do what is best for them and be an advocate for their happiness and I promise you you’ll see the return on your investment from employees and customers!
If our business truly attempts to take care of the people we encounter in all facets of our business, usually the people will take care of us. They’ll buy more, they’ll service more, they’ll refer more friends/family and they’ll say great things about us on Social Media. These are all things that are important to us. Organic growth, though providing a truly great customer experience is the best money you can spend. Spend it with your customers, spend it on your facility, spend it on your employees and it will be better than the money you spend on any advertisement, program, plan, training or technology.
Our greatest resource is truly our customers and our employees, once we invest enough in them – with quality leadership every aspect of our business should improve.
Simple concepts that win in retention:
I’m sure that everyone reading this already knew the things discussed and it’s nothing more than a reminder….but sometimes reading things that we already know is better than learning something new…you know, like RETENTION!