5-Point Action Plan for Reaccelerating Car Sales Beyond the Pandemic

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5-Point Action Plan for Reaccelerating Car Sales Beyond the Pandemic Focus on Improving Customer Loyalty Historic data shows brand loyalty is challenged during times of economic downturn, meaning dealers need to focus on maintaining their market share. Preventing defection as customers return to the market requires a well-structured communication plan to proactively engage customers. By utilizing predictive analytics, dealers can develop messaging tailored to each unique customer, building off that first touch point. Today's car buyers don't just want a great deal – they want a personalized experience that addresses their concerns. Improve Efficiency & Eliminate Waste Right now, dealers can't afford to waste time or resources on ineffective "spray and pray" marketing or nurturing unqualified leads. Take a data-driven approach to identifying sales prospects that goes beyond traditional equity mining. This includes utilizing predictive marketing and automation tools to convert leads faster through highly personalized campaigns that capture the customers' attention. Have your team commit to prioritizing your most viable opportunities first, and ensure your marketing and sales teams are working together to keep the customer experience consistent. Capitalize on New Auto Sales Opportunities U.S. auto sales have started to show signs of recovery, with national retail registrations increasing by 91% from April to May, according to IHS Markit data. These customers returning to market present unique opportunities for dealers who are equipped to respond to changing buying behaviors. With the automotive retail market showing early signs of recovery and consumer demand and confidence demonstrating resilience, dealers are putting their foot on the gas to drive auto sales in the remaining half of 2020. To help your dealership adapt to the coming weeks and months, we've compiled a 5-point action plan for accelerating past the COVID-19 crisis and increasing auto sales: 1. Focus on improving customer loyalty 2. Improve efficiency to reduce waste 3. Capitalize on emerging sales opportunities 4. Turn to F&I to offer customers relief 5. Ensure your reporting measures what matters IN LOYALTY RATE DECREASE = AN AVERAGE OF 90 SALES UNITS LOST 1% EVERY IHS Markit

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