3. Maintaining customer loyalty is critical.
With limited vehicle availability and fierce
competition growing among dealers, nurturing
and protecting dealership customer loyalty is
more important than ever.
With unique access to their loyalty audience's
customer data, some dealers are leveraging
their dealership marketing technology to
identify which of their loyalty customers present
the greatest sales opportunities and which are
most at risk to be conquested by a competitor.
These same tools can be used to engage buyers
before they've had the chance to defect with
messaging designed to retain their business,
such as extended lease offers. Taking a similar
approach using Market EyeQ, our dealer
partners report increased loyalty up to 15%.
Interested in learning how Mastermind can help your dealership maximize its marketing efforts amid
inventory shortages? Contact us for a free demo.
800.801.0018 | info@automotiveMastermind.com
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2. Used vehicle prices are through the roof.
For new car dealers unable to stock new inventory,
pre-owned sales represent an incredibly valuable
opportunity to promote dealership profitability. This
is especially true with low new vehicle inventories
pushing more new vehicle buyers to consider pre-owned
replacement options.
Leverage insights from your DMS, CRM and sales
platform to map and market pre-owned options to new
car customers who are most likely to be interested in
them. For example, non-luxury customers are more likely
to make needs-based purchases and may be more willing
to consider other models or even other brands.
Dealer loyalty has
dropped 1.6% since 2012.
Manufacturer and brand loyalties
have each slipped just .2%.
IHS Markit, March 2021
The average retail
selling price of
pre-owned vehicles by
new car dealerships
has increased by 11%
compared to 2020.
NADA, March Dealership Financial Profile
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