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Why your dealership’s database is so important and how to mine it?

Posted By Andrew Myers  
08/06/2021
12:00 PM

Your dealership’s sales and service performance are only as strong as your database. That’s a bold statement, but it’s 100% true.

Why is this so important? Statistical data tells us that on average your dealership loses:

  • 30% of customers in year 1
  • 48% of customers in year 2
  • More than 50% of customers in year 3

So, what is the cost to the dealership?

Well, when you consider the lifetime value of a single customer, the cost of losing one is substantial. One happy customer means that you retain them, whilst also potentially gaining referrals from them.

Up to 55% of dealer partners’ service customers are converted into in-market leads by adopting a customer experience culture based on retention results. NADA data appears to back these numbers up.

They found that on average 76% of car buyers bought their next vehicle from the dealership that performed their regular maintenance. However, only 14% of those car buyers had maintenance performed at the same dealership they bought the car from.

When you consider 14% of car buyers who returned to buy a car from the same dealer, you can see the direct correlation between customer retention and the service experience.

So, as a dealership, how do you engage? It starts with a sale, is nurtured and galvanised as you continue to serve the needs of each customer. 

However, most dealerships fail to maintain an accurate, up-to-date database, and that can be their downfall. Luckily, we offer a state-of-the-art reporting tool to ensure your database is a lead-generating goldmine – one that you can mine effectively and efficiently whenever you want.

 

Introducing Nurture View

Nurture View is a comprehensive reporting platform that does all the hard yards for you. With Nurture View, you gain access to quality data that gives you the foundations to build meaningful marketing campaigns. And to improve your customer retention.

You’ll have eyes on everything, with complete Aftersales and Sales customer clarity – to help improve your customer retention.

The platform amalgamates all the data across your dealership – from sales, service, parts and finance – into one treasure trove of information.

What’s really great about Nurture View is that it can be used to keep both your sales and service on track.

 

Ready to turn your database into a goldmine?

The short-term costs of investing in a long-term customer relationship more than deliver. In fact, if we simply bring forward the renewal of a vehicle from say four years to three, you get three profit opportunities –

  1. The sale of a new vehicle plus Finance, and aftercare
  2. Sales of a valuable Used car as it is only three years old - great stock in warranty
  3. Additional service, as traditionally you lose customers after 3 and 4 years.

Let us take the burden out of maintaining and mining your database. Give us a call today to find out about our Nurture Infinity reporting tool and how you can benefit.

Ph: 0478 899 109

E: andrew@dtsexperience.com

W: www.dtsexperience.com