3-Step Guide to Protecting Your Dealership Loyalty Customer Base

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800.801.0018 | info@automotiveMastermind.com ©2021 automotiveMastermind ® . All rights reserved. | A business unit of IHS Markit™ LEARN MORE automotiveMastermind.com 2. Execute the Plan This is well known (but still worth repeating): The daily execution of your game plan is what will make or break your dealership's retention goals. This means taking proactive steps to regularly identify and proactively engage loyal customers before they can shop elsewhere. To begin: Ensure both your sales and service teams understand their roles in the process, including clearly defined goals and expectations. • Task a member or a small team from your sales department or BDC to serve as a loyalty liaison. Then analyze the data in your dealership's CRM, DMS and sales platform to identify which loyalty customers pose the most significant risk of defection. • Prioritize your efforts based on the customers most likely to defect, such as those: » Out of warranty » Over lease mileage » Who could lower their APR or payment » Approaching end of lease or finance term 2. Stay in Consistent Contact The buyer's journey doesn't end with their purchase. In many cases, it's just beginning. After a customer rolls off your lot, that sale transforms into various opportunities, including sales and service revenue for years to come. To improve customer loyalty and promote this sort of customer retention, dealers need to stay in consistent contact with their audience. Ensure each touchpoint builds on the last in a valuable and helpful manner. For example: • Look for ways to incentivize customer loyalty, such as special service offers, referral programs or other exclusive benefits to retain their business. • Ensure your team is staying in consistent contact with your customer base. Identify critical moments to regularly re-engage your audience by addressing moments and milestones unique to each owner's situation. • Leverage your service drive to regularly reconnect with buyers through well-timed maintenance notifications and deliver an excellent service experience that builds loyalty. To protect their customer base and promote dealership customer loyalty, dealers need to stay ahead of their buyer – and two steps ahead of the competition. This requires dealers to plan targeted loyalty and retention efforts and execute those plans with a data-driven approach and deliver a dealership customer experience that keeps customers coming back. Interested in learning how automotiveMastermind empowers dealers to protect their loyalty customer base and prevent customer defection? Contact us to learn more. Customers who service with a dealer were just over 2.5x more likely to purchase their next vehicle from the same retailer. automotiveMastermind, based on consumers who returned to market over a 120-day window Personalize your outreach based on each customer's unique wants and needs. Avoid any "bait-and- switch" offers and include actionable messaging offers that account for your dealership's available inventory, as well as any pre-selling options.

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