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There are probably a thousand reasons or more that customer service and retention is a valuable automotive sales training topic, but here are just nine that affect all industries that should get your attention.
1. 86% of buyers will pay more for a better customer experience. But only 1% of customers feel that vendors consistently meet their expectations. (CEI Survey)
2. By 2020, customer experience will overtake price and product as the key brand differentiator. (Customers 2020 Report)
3. In 2013, 62% of global consumers switched service providers due to poor customer service experiences, up 4% from the previous year. (Accenture Global Consumer Pulse Survey)
4. It is 6-7 times more costly to attract a new customer than it is to retain an existing customer. (White House Office of Consumer Affairs)
5. 89% of consumers have stopped doing business with a company after experiencing poor customer service. (RightNow Customer Experience Impact Report)
6. It takes 12 positive customer experiences to make up for one negative experience. (Parature)
7. 70% of buying experiences are based on how the customer feels they are being treated. (McKinsey)
8. A 10% increase in customer retention levels result in a 30% increase in the value of the company. (Bain & Co)
9. 90% of respondents who recalled reading online reviews claimed that positive online reviews influenced buying decisions, while 86% said buying decisions were influenced by negative online reviews. (Dimensional Research)
We all know the importance of customer service, but the priorities, processes and expectations of the management, sales and service teams can complicate the act of rolling out the red carpet. If you want your dealership to build customers for life, customer retention should be every department’s priority. In your sales, service and management training programs, include lessons on:
Remember, it is not about the priorities, agendas, expectations or processes of your sales team, your service lane or even your management staff…it is about your customers and how they feel about doing business with your dealership.
About the Author
Stephanie Young is the Vice President of Sales and Marketing for The Manus Group, where she is an active blogger, social media contributor and spokesperson for one of the nation’s leading automotive recruiting and training firms. Stephanie is also the current Ms. Florida Forestry Queen, promoting her platform encouraging young woman to pursue their interests in STEM field careers.
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