Author: Richard Halbe

Publisher:

Published: 2020-09-11

Total Pages: 118

ISBN-13: 9781913969202

The market is changing at a breakneck speed. Indeed, you must have heard this several times. You might have said it yourself several times. As a car dealer, you might have felt it yourself. The way customers are buying vehicles today is significantly different than how it used to be and will continue to change for the foreseeable future. Retaining the same traffic level in dealerships has been a massive challenge. Although getting leads has been a temporary solution. To retain existing customers, as well as attracting and satisfying new ones, you need a strong Marketing Strategy. The following chapters will show you how to achieve just that. In a more competitive market with decreasing margins, you need marketing knowledge and plans. There is no easy or quick magical solution. Your dealership needs achievable goals, strategies, marketing plans with frequency and sequence and to track and measure results to adjust plans. Customers are less loyal to a specific vehicle make's brand as compared to others' -at least, that is what research by Michelle Morris, an Automotive Industry Director at Google. Moreover, a recent study with customers shows that 63 percent of new vehicle purchasers begin their search with a specific brand in mind. However, only 20 percent of shoppers buy the vehicle they first looked up online, while 73 percent of in-market search activities involve cross-shopping. Then, 87 percent of new owners say they are likely to buy the same brand next time around, but only 56 percent end up as repeat purchasers. Based on this study, your dealership should consider investing more time and strategies to retain your customers through an above-average service and customer service.