Hey there, fellow dealership enthusiasts!
Let’s dive right into it – working in a dealership can be incredibly tough. Especially when customer expectations seem to keep reaching new heights. From my own experiences running dealerships, it feels like we’re constantly chasing after what customers want and struggling to deliver it. When they come to us with questions, sometimes finding those answers can feel like searching for a needle in a haystack. It requires coordinating with various roles in the store and reaching out to multiple suppliers and manufacturers. Communication becomes a hurdle, both within and outside the dealership, making our days even more challenging.
But hey, here’s the thing – this isn’t just a problem in our dealership; it’s universal. And maybe, just maybe, the issue isn’t solely the lack of time or sky-high customer expectations. It’s how we’ve set up our dealerships. We’ve fallen into the trap of operating in silos, where sales, parts, and service seem like separate businesses with their own objectives.
Isn’t the primary objective of a dealership to give our customers the best experience possible? To build a thriving community around our dealership, where we become the heart of it all? To achieve that, we can’t continue seeing departments as isolated islands. We need a paradigm shift – a new way of looking at the dealership and measuring success. And that starts with focusing on the customer.
If we pay close attention to the customer journey – the steps they take and the experiences they encounter along the way – we can forge stronger connections with them. Happier customers mean more value for our dealership. At OCD Solutions, we’ve been on this journey from the very beginning, searching for ways to improve the dealership experience.
Our first step was studying all dealership transactions across sales, parts, and service. By identifying individual customers and tracking their purchases throughout the different departments, we established an average value per unit purchased. This allowed us to see where value was generated within the dealership by a single customer with a single unit. From there, we began measuring how an improved experience could translate into increased value for each customer.
Guess what we discovered? A small group of customers produced the largest amount of gross profit. These VIP customers have a huge impact on our business, and understanding their behavior is vital. To help dealerships like yours gain these insights, we developed a FREE tool built into DealerPoint called the Enthusiast Life Cycle Value (ELV) report.
This report showcases your average enthusiasts’ lifecycle value, your most loyal customers, the neutral ones, and those who might need a little extra attention. It even delves into trends like repurchase rates and seasonality for each group. Armed with this information, you can tailor your marketing strategies and engagement to create a remarkable customer experience.
We firmly believe that by tracking and understanding these numbers, we can elevate the customer experience to new heights. It’s not just about where we are now – it’s about where we can go. So, let’s join hands and embark on this journey together, making every customer’s experience better than ever before. Are you ready to unlock the true potential of your dealership with ELV? Get your FREE report now by signing up for DealerPoint.
Let’s take the first step towards a dealership experience that leaves customers grinning from ear to ear!