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4 Tips for Building a Proactive vs. Reactive Dealership Prospecting Strategy

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P R O A C T I V E R E T E N T I O N : SETTING THE RIGHT GOALS With the cost of acquiring a new customer typically 5x higher than that of retaining an existing customer, focusing on building customer loyalty is one of the most important and profitable pursuits at any dealership. This process starts with knowing what loyalty is worth and what improvements need to be made to increase retention. While hitting your daily sales goals will still be your sales team's top priority, it's critical that the importance of retention be clearly communicated from management down to each sales department. Developing a unified long-term vision and approach across the dealership is crucial to making a meaningful impact. 4 At the dealership level, every 1% decrease in loyalty rate equals an average of 90 sales units lost. Source: IHS Market

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