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2017 Auto Dealer’s Guide to Customer Retention
Presented by
WELCOME
Jim Treece
News Editor
Automotive News
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© Outsell 2016
2017 AUTO DEALER’S GUIDE
TO CUSTOMER RETENTION
Sponsored By
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Valerie VallancourtVice President of Marketing
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Ed BorgChief Marketing Officer
Hennessy Auto
Michele HalleCommerce Director
Lawrence Hall Auto Group
PANEL INTRODUCTIONS
Billy FrankGeneral Manager
Clear Lake Infiniti
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VALERIE VALLANCOURT
Vice President of Marketing
Outsell
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Cost of acquiring a new customer vs.
retaining an existing one.
Source: The Value of Keeping the Right Customers, Amy Gallo, Harvard Business Review, October 29, 2014
5x - 25x
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Now This Is Important
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In a study of 1,193 commercially successful innovations across nine industries, 737 (60%) came
from customers
Source: Institute of Management Sciences
60%
Your Customers Have Great Ideas!
© Outsell 2016Source: David C. Edelman & Marc Singer, “Competing On Customer Journeys”, Harvard Business Review Nov 2015
Streamline The Journey
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© Outsell 2016Source: Bond
81%of consumers are more likely to continue doing business with a brand that offers a
loyalty program
73%of loyalty program members
are more likely to recommend a brand if they are satisfied
with their experience
LOYALTY PROGRAMS
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The most successful customer retention tactics using data effectively include:
• Loyalty Programs
• Data-Driven Engagement
• Reputation Management
Source: Client Heartbeat
© Outsell 2016Source: Institute of Management Sciences
25% - 95%
An increase in customer retention by as little as 5 percent can lead to increased profits of
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ED BORG
Chief Marketing Officer
Hennessy Auto
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Who We Are:
• We are the Hennessy Automobile Companies• 2016
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Priority One: Website Conversion
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• We can buy as much traffic as we want…….
• What are you spending on SEM?
• What are you spending on SEO?
• What’s your bounce rate?
• What’s your average time on Site?
• How many pages are they viewing?
• What is the value of that traffic???
• Who is your website provider?
• Excluding Phone Calls, what is your conversion rate?
• What is our conversion rate?
• How do we achieve it?
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How many leads????
That’s how many leads our trade in tool alone produced on our Atlanta Lexus Site in
October 2016!!!
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Why it is so important and how….
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A customer’s true value emerges over his or her “lifetime” with your Dealership.
• A customer is a person who becomes accustomed to buying from you. Without a strong track record of contact and repeat purchase, this person is NOT your customer; he is a buyer. A true customer is grown over time.
• Acquisition marketing without a continuous engagement strategy and plan is just wasted dollars.
• Loyal customers are worth up to 10 times as much as their first purchase
• 61% of revenue comes from existing customers on average
• Many components, we will only talk about Engagement and Satisfaction
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We have many ways to engage a customer today….
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• Be Relevant!
• Be Timely!
• Be Consistent!
• Be Respectful!
• Be Specific!
• Be Personal!
• Be Mutually Beneficial!
• Coordinate all efforts through all Channels!
• Use the Data!
• Listen for the signals!!!
So how do relationships turn one-time buyers into lifetime customers?
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Reputation Management
• How do you solicit reviews?• How do you prevent negative reviews from going public?• What do you do when a review is posted?
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2017
• Add attribution pixels to all campaigns• Increase embedded video use in email• Stop remarketing without a purpose• Use more micro-sites and Dynamic
Conversion Pages with marketing campaigns.
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MICHELE HALL
eCommerce DirectorLawrence Hall Auto Group
Lawrence Hall Abilene Auto Group consist of 7 different franchises with 3 separate rooftops
Chevy, GMC, Buick & Cadillac
Lincoln-Mazda
Volkswagen
Lawrence Hall Abilene is privately owned and operated
2016
• New Car Sales/New Car Gross• Pre-Owned Sales/Pre-Owned Gross• Increase turn-prevent/minimize loss• Service-Implement Scheduling Atmosphere-XTime
Lawrence Hall Loyalty
• Preferred Owner Program CSSR• Sales- Offer additional $500 on next trade-in• Service Dept-Special Pkg for Loyalty Customer• Work our CM process on a daily basis
Lawrence Hall Loyalty- 2017
• ALL Departments work synergistically• Sales Department work the Service Drive• Gourmet Cookie Delivery
Lawrence Hall Reputation Management
• Partnership with Digital Air Strike• Work our CM process on a daily basis• Capture current contact info
Lawrence Hall Customer Retention
• Orphaned Owner-Manifest list• Continue to work customer owner base• Utilize Equity Mining data from CM• Vendors• Business Development-Service Department
2017
• 2017 Sales Forecast• Focus on Service-Equity Mining• Advertising Funds
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BILLY FRANK
General Manager
Clear Lake Infiniti
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Are we playing by the right set of rules?
• Efficent Marketplace• Market where all pertinent information is available
to all participants at the same time, and where prices respond immediately to available information.
• How should this effect your advertising?• How will it effect your business?
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Clear Lake Cares
• Clear Lake Cares is an initiative to get more involved in the community and give back.
• “Helping is the new selling.”• We began with a “Nominate a Family In Need”
Thanksgiving Dinner Donation.• We received dozens of entries and gave away 3
complete dinners the day before Thanksgiving.
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Clear Lake Cares
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Clear Lake Cares
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Clear Lake Cares
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Reputation Management
• Micro moments will shape the future• Maintaining your online reputation is priority one• Having a process in place to garner more reviews
• Hire a reputation management firm• Develop your own internal spiff program
• The more reviews the better
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Customer Retention
• Offering extra incentives to clients• New Vehicles
• 2 years or 20k miles in free maintenance• Free one year road hazard• Nitrogen in tires• Purchase brand new floor mats on all CPO vehicles
• VIP events for clients only• Team up with local restaurants to offer an exclusive events• Make sure events are away from the dealership
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Why are our standards set so low?
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• Know the current market and change your
marketing plan
• Find niche way of making your clients feel special
• Protect your reputation and know why consumers
make choices in todays market
• Raise your standards
KEY TAKEAWAYS
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Webinar Overview
• Deploy a strong cadence of communications through online and offline channels
• Make the most of your loyalty programs
• Maximize customer satisfaction through reputation management and surveys
• Create dynamic, behaviorally targeted customer retention campaigns
© Outsell 2016
Valerie VallancourtVice President of Marketing
Ed BorgChief Marketing Officer
Hennessy [email protected]
PRESENTER INFO
Billy FrankGeneral Manager
Clear Lake [email protected]
Michele HalleCommerce Director
Lawrence Hall Auto [email protected]
© Outsell 2016
QUESTIONS
THANK YOU
The recorded webinar will be available for 12 months at www.autonews.com/powertraining.
You will receive an e-mail when it is available.
Email additional comments/questions to [email protected].
