Every dealership is after the (often) illusive repeat customers. With people buying less often, earning the loyalty of the customers you do sell to can pay off. Once you’ve earned the business of repeat customers, the next step is to turn them into evangelists—those who recommend your dealership and ultimately send more sales into your showroom.
These types of customers are beneficial because they not only help to create more profit for your dealership, but also to direct those sales away from your competitors. But have you ever thought about how much people who recommend against buying from your dealership could be costing you?
Found on the Church of the Customer blog, Satmetrix published a study about how much financial harm unsatisfied customers can have on the bottom line of a business. While the results below are focused on the wireless industry, I think it’s worth looking at:
In this case, a negative word of mouth results in losing $300 per unsatisfied customer. Can your dealership afford this?
Make sure customer service is consistent throughout your dealership, and that there is a plan in place to try and satisfy unhappy customers BEFORE they start costing your dealership money. This could include using automatically sent surveys to attempt to find those who are less than content with your dealership, as well as keeping you finger on the online pulse of blogs and other online forums.
Now, more than ever, it’s essential that your dealership keeps your customers happy. If you don’t, ignoring an unpleasant experience may be costing your dealership more money than you know.