re:member group
Customers really don't become customers until they buy from you at least twice
I have another article I wanted to share today. It’s all about making sure your customers are coming back to your dealership after the initial sale. Oftentimes, customers will make a purchase, and you won’t see them again for a while, if not ever again.
Have a look at the article Paul Long wrote, and see how your sales could increase just by rewarding your paying customers, and giving them great reasons to stop back in to your dealership.
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“Customers really don’t become customers until they have bought from you at least twice. The first time they buy, they are merely visitors looking for the value in what you offer.”
One of our current clients, Frank Leta in St. Louis, understands those words. They have been very successful and very deliberate when it comes to attracting – and retaining – customers. Check out a commercial spot to see one of the reasons why (which happens to be a program we built and manage for them).
If you spend thousands of dollars to get new customers in the door, they likely won’t come back if you don’t wow them or reward them. You have to supply the “wow,” but we can help with the rewards.
Think about it. One-time-only customers are the most unprofitable – and expensive – you will ever have. Whether someone buys one car from you, or half a dozen, your initial marketing investment is roughly the same. The only thing that changes over time is your Return on Investment.
The Proof Is In the Pizza
A couple of years ago a national pizza chain began to gather insight to identify customer behavior patterns in the wake of a system-wide sales decline, and decided to launch a loyalty program. The result? A 65-percent increase in sales company-wide. Read more.
Even the world’s largest pizza purveyor, with an astounding 48% market share and millions to spend on marketing, realizes that sometimes it takes something more than just another ad or marketing message.
Obviously the price point of a new vehicle is exponentially higher than a pizza, but there are still some takeaways.
What's Your Story?
We’d love to hear some case studies or best practices for you. Contact us and we can continue the conversation.
Until then, here are a few numbers for you:
-It’s 7-10 times more expensive to acquire new customers than it is to keep existing customers coming back.
-Over 75% of consumers have at least one loyalty card.
-Repeat customers spend 33% more than new customers.
-Having an up-to-date and working customer database can double the value of your business.
-60% of consumers in a recent national survey say they “try to avoid advertising”
-Shoppers are spoiled. They have to come and ask “If I give you my business, what will you give me in return?”
-Studies show that customers who belong to a loyalty program visit twice as often and spend 4 times more than those who don’t.
If you would like to hear more, please contact us today.
Sincerely,
Paul Long
President
re:member group
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What success have you seen in getting your customers back into your dealership? Let me know in the comments, and tell me what you think you could be doing to improve your customer retention rate.
re:member group
Customers really don't become customers until they buy from you at least twice
I have another article I wanted to share today. It’s all about making sure your customers are coming back to your dealership after the initial sale. Oftentimes, customers will make a purchase, and you won’t see them again for a while, if not ever again.
Have a look at the article Paul Long wrote, and see how your sales could increase just by rewarding your paying customers, and giving them great reasons to stop back in to your dealership.
-----
“Customers really don’t become customers until they have bought from you at least twice. The first time they buy, they are merely visitors looking for the value in what you offer.”
One of our current clients, Frank Leta in St. Louis, understands those words. They have been very successful and very deliberate when it comes to attracting – and retaining – customers. Check out a commercial spot to see one of the reasons why (which happens to be a program we built and manage for them).
If you spend thousands of dollars to get new customers in the door, they likely won’t come back if you don’t wow them or reward them. You have to supply the “wow,” but we can help with the rewards.
Think about it. One-time-only customers are the most unprofitable – and expensive – you will ever have. Whether someone buys one car from you, or half a dozen, your initial marketing investment is roughly the same. The only thing that changes over time is your Return on Investment.
The Proof Is In the Pizza
A couple of years ago a national pizza chain began to gather insight to identify customer behavior patterns in the wake of a system-wide sales decline, and decided to launch a loyalty program. The result? A 65-percent increase in sales company-wide. Read more.
Even the world’s largest pizza purveyor, with an astounding 48% market share and millions to spend on marketing, realizes that sometimes it takes something more than just another ad or marketing message.
Obviously the price point of a new vehicle is exponentially higher than a pizza, but there are still some takeaways.
What's Your Story?
We’d love to hear some case studies or best practices for you. Contact us and we can continue the conversation.
Until then, here are a few numbers for you:
-It’s 7-10 times more expensive to acquire new customers than it is to keep existing customers coming back.
-Over 75% of consumers have at least one loyalty card.
-Repeat customers spend 33% more than new customers.
-Having an up-to-date and working customer database can double the value of your business.
-60% of consumers in a recent national survey say they “try to avoid advertising”
-Shoppers are spoiled. They have to come and ask “If I give you my business, what will you give me in return?”
-Studies show that customers who belong to a loyalty program visit twice as often and spend 4 times more than those who don’t.
If you would like to hear more, please contact us today.
Sincerely,
Paul Long
President
re:member group
-----
What success have you seen in getting your customers back into your dealership? Let me know in the comments, and tell me what you think you could be doing to improve your customer retention rate.
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re:member group
Customer Partnerships Create a Better Future for Both Parties
I wanted to post an article, in regards to the partnerships we develop. Paul Long wrote this a while ago, and I wanted to get the opinions of the DS community.
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Customer Partnerships Create a Better Future for Both Parties
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Ok, we admit, the subject line is a bit high-minded. And that's not a bit surprising considering the source of it is Dr. Emmett Murphy, New York Times best-selling author of
"Leading on the Edge of Chaos: The 10 Critical Elements for Success ...."
We get the main point though: the customer is the foundation of your organization's success.
Given today's environment of rapid, unpredictable, constant and chaotic change, "no force is more grounding and stabilizing than a partnership with customers." (again Dr. Murphy)
Creating a partnership with customers can help your organization maintain the focus you need to make good decisions and harness the power and commitment you need to weather these tough and volatile times.
We all know by now the process of creating customer partnerships is more than merely "putting customers first", or finding solutions to problems, or "dedicating your staff to excellence." It’s more sophisticated than that.
Is your relationship with your customers a 'partnership'? Why? Why not? Sound off in the comments below.
Will
Will Michaelson
Sales Associate
re:member group
Phone: 952.224.8002
email: will@remembergroup.com
No Comments
re:member group
Customer Partnerships Create a Better Future for Both Parties
I wanted to post an article, in regards to the partnerships we develop. Paul Long wrote this a while ago, and I wanted to get the opinions of the DS community.
-----
Customer Partnerships Create a Better Future for Both Parties
----
Ok, we admit, the subject line is a bit high-minded. And that's not a bit surprising considering the source of it is Dr. Emmett Murphy, New York Times best-selling author of
"Leading on the Edge of Chaos: The 10 Critical Elements for Success ...."
We get the main point though: the customer is the foundation of your organization's success.
Given today's environment of rapid, unpredictable, constant and chaotic change, "no force is more grounding and stabilizing than a partnership with customers." (again Dr. Murphy)
Creating a partnership with customers can help your organization maintain the focus you need to make good decisions and harness the power and commitment you need to weather these tough and volatile times.
We all know by now the process of creating customer partnerships is more than merely "putting customers first", or finding solutions to problems, or "dedicating your staff to excellence." It’s more sophisticated than that.
Is your relationship with your customers a 'partnership'? Why? Why not? Sound off in the comments below.
Will
Will Michaelson
Sales Associate
re:member group
Phone: 952.224.8002
email: will@remembergroup.com
No Comments
No Comments