By tapping into the powerful resources available within your CRM, your dealership can quickly increase profits and save money by leveraging your existing resources, without spending money on additional marketing efforts or staff. By focusing on the following four areas, you can see just how quickly your CRM can help your dealership leverage the tools and resources you have available today:
MARKETING - Leverage your CRM to uncover a wealth of additional up-sell opportunities within your existing customer data.
Powerful data mining capabilities provide dealers with a detailed picture of up-sell opportunities with their current customers based on factors such as those that have “ equity” in their vehicles, where a payment could be lowered or remain the same with a new vehicle purchase, simply target a service customer that has over 60K miles on their vehicle. Dealers can choose from pre-defined queries or can easily build their own. In just seconds the list of viable and ready customers is returned. Dealers can then take those results, and communicate immediately with the identified customers directly from their CRM through a variety of campaign options, including email, Call Center or multi-step marketing campaigns.
Leverage your CRM to discover what marketing is working and what’s not, and eliminate the excess: “We save $30,000 per month in marketing expenses because of our CRM,” said Ron Young, Connell Nissan. “Knowing what works and what doesn’t enable us to strategically target both our marketing efforts and dollars to achieve maximum ROI.”
SALES - Are you presenting each customer you touch with all of the options available to them from your dealership?
Recent market data shows that many customers are holding on to their current vehicle longer, and that many are looking at used cars as a strong option when shopping for a vehicle. Are you including used car options in your quotes? Multiple purchase and lease options?
SERVICE - Is your dealership leveraging your customers’ service visits to the fullest?
Handle each customer visit as a chance to further develop your relationship with that customer. While they are at your dealership, update customer information in your contact database; ask if they would like to receive emails for service specials, inform them of discounts to come in for additional services; offer new car buyers a discount to bring their vehicle in for service, etc.
Derrick Kopp, Larry H. Miller Lexus: “Our customers are happier. Over 20% are booking their appointments online, and we have flat out increased our service business doing targeted campaigns through our DealerSocket CRM!
CSI - The key is to address the issues quickly that are negatively impacting your dealership’s CSI. To do that, you need to understand the customer experience immediately and respond with appropriate communications and actions.
Your CRM enables the immediate capture of those customer experiences at the time of the sale or service, and then drives the appropriate communication and follow up from the right person. This enables the person who is best suited to deal with the problem to do so immediately, before any manufacturer surveys are sent.
Brian Crane, Executive Manager at Ken Garff Auto credits their dealership’s CRM for a 10% increase in sales over the previous year and a 40 point increase in CSI scores: “We went from an average of 60% CSI two years ago to 100% in the past few months,” said Crane. “I attribute this directly to our ability to follow up with unhappy customers more quickly and immediately resolve their issues before they receive the factory survey. Saving thousands and turning around our CSI - those are real benefits!”
When it comes to leveraging existing resources and ensuring that your dealership is capitalizing on every available opportunity, your CRM is your starting point. By harnessing the power of your CRM solution, you’ll not only utilize your current resources and tools to their fullest, you’ll save money, increase your profits and ensure that your dealership continues to thrive and grow during these difficult times.