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All ADM Blog Posts Tagged 'retention' (120)

Yahoo Bets Big on Customer Loyalty

In a recent announcement by Yahoo CEO Marissa Mayer, it was revealed that Yahoo will soon stop allowing its users to login using their Facebook or Google credentials. This move is an effort by Yahoo to better control its…

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Added by Mike Gorun on April 8, 2014 at 10:36am — No Comments

Rewarding the Four Percent: Delta’s New Loyalty Strategy

Delta Airlines recently revamped its loyalty program changing how rewards are distributed to its customers.  In an article in Knowledge@Wharton, Peter Fader, Wharton Marketing Professor, applied the…

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Added by Mike Gorun on March 25, 2014 at 7:31am — 1 Comment

Overwhelmed Employees Affect Engagement

An interesting article on the Forbes website shared the results of a recent study by Deloitte Global Human Capital Trends. The study was the result of an extensive…

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Added by Richard Holland on March 20, 2014 at 6:56am — 12 Comments

Do Loyalty Programs Pay Off?

In a world filled with loyalty programs, it’s always interesting when I talk to a dealership that harbors doubts. The cost involved in having a loyalty program is minimal compared to the revenue generated. However, at times it seems as if dealers are intimidated by the effort it would take to…

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Added by Mike Gorun on March 18, 2014 at 7:30am — No Comments

Are We at a Cross Roads with our Auto Sales Staff?

Even if you don’t believe, as I do, that high sales staff turnover is the number one issue facing the auto industry today; we certainly can agree it is right at the top of the list. There is not one positive thing that happens at our dealerships as a result of high turnover, and the benefits of low sales turnover are so obvious that I don’t need to list them.

 

High sales turnover has completely undermined training efforts. It creates the mental attitude amongst many managers…

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Added by Paul Sansone Jr. on February 25, 2014 at 5:14am — 1 Comment

Cutco Can Do It; Why Can’t We!!!

If you look close enough to this picture:

you will see my name “SANSONE” etched into my new Cutco Cutlery set. What’s amazing to me is that I didn’t think I needed a new set of knives, I certainly didn’t have any difficulty cutting my last steak.

So why do I own them ???? Because Cutco is smart…

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Added by Paul Sansone Jr. on February 18, 2014 at 11:56am — 1 Comment

Would Your Customers Pay For Your Loyalty Program?

Imagine having customers so loyal that they are willing to pay you just to do business with your dealership. Do you think a customer that makes an investment in your loyalty program would be more or less likely to remain loyal to you and your brand? Three companies have successfully managed…

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Added by Mike Gorun on February 1, 2014 at 5:26am — No Comments

Why Aren't Your Customers Loyal? If You Can Handle the Truth, Read This.

We've all seen and heard statistics regarding the connection between customer retention and a company's profitability. Here are some examples:

 

1) It's 6-7 times more expensive to acquire a new customer than to keep an old one - White House Office of Consumer…

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Added by Mike Esposito on January 22, 2014 at 9:31am — No Comments

Choosing How to Reward Your Customers Wisely

Oftentimes, businesses adopt a rewards program to thank their frequent customers and to encourage and increase the likelihood that they will return. While these are both excellent reasons to have a rewards program, a business must carefully consider how to structure the program and what to offer to not…

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Added by Mike Gorun on January 21, 2014 at 6:30am — No Comments

It’s Beginning To Look A Lot Like Christmas

As the holidays quickly approach, many companies are giving back to their customers. Through toy drives, volunteering at local charities or fund-raising, businesses across the nation are pooling their resources to help the needy. Some businesses, however, have chosen to direct their resources to the…

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Added by Richard Holland on December 19, 2013 at 4:30am — 1 Comment

Will You Fight To Win A Customer?

The battle for customers in the automotive industry is hyper-competitive.

Dealers advertise low price loss leaders and court an Internet buyer with competitive pricing that sometimes results in negative gross deals. Service departments advertise low priced oil changes to both upsell and win a new customer. 

 …

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Added by Richard Holland on December 12, 2013 at 5:00am — 8 Comments

Setting Something Free Doesn’t Mean It’ll Come Back

I am sure many of you will have heard the saying “If you love something, set it free. If it comes back, it’s meant to be.” While this may be good advice for relationships, it’s certainly not good advice for business. A recent whitepaper…

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Added by Mike Gorun on November 26, 2013 at 9:00am — No Comments

Lessons We Can Learn From the Failure of Blockbuster

As I’m sure you’ve heard, Blockbuster Video has gone out of business.

DISH Network, which owns Blockbuster, officially announced last week that they would be closing all 300 U.S. Stores. There was a time when local video stores were the dominant retail outlets to rent movies from. Then along came the mega-video stores…

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Added by Richard Holland on November 15, 2013 at 7:30am — 7 Comments

Solving the Puzzle of Customer Loyalty: A Holistic Explanation

I’ve written many articles about the different types of loyalty and how each can affect your business’ growth and revenue. However, I’ve never written an overview of how all these components fit together in a holistic manner. Hopefully, this blog article will help put the pieces together…

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Added by Mike Gorun on November 12, 2013 at 5:30am — No Comments

The Future Is Now: Google Enters Fixed Ops

In July, I wrote an article that was published in Dealer magazine titled “Beam Me Up! How Service May Look In The…

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Added by Richard Holland on November 8, 2013 at 5:30am — 8 Comments

Loyalty Comes In Many Forms

I came across an excellent blog article recently that discussed the different forms of loyalty that exist in the car business. In this article, the author described three levels of customer…

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Added by Mike Gorun on November 5, 2013 at 6:20am — 3 Comments

Own this Gorilla

In this era of tweets, texts and Likes, the wise sales associate still recognizes and practices good phone.

 

Good phone means knowing how to engage others using the telephone. For sales associates, good phone means having learned how to sell by phone, practiced those skills and worked to overcome it unfamiliarity.

 

Most any sales associate who makes up their mind to excel at using the phone to drive business can be a success.

 

Yet for many, the…

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Added by Jeff Cotton on October 21, 2013 at 6:26am — 1 Comment

Service Customers Want Transparency, Control

Wards Dealer Business - Competitive prices and fixing it the first time are important to dealership service department customers. Yet, service that stops there falls short of building loyalty.

What customers also want from their dealership are transparency, choice and control, say fixed-operations experts and dealers.

“In fixed operations for …

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Added by Jim Leman on October 14, 2013 at 8:14am — No Comments

Why Are We Rewarding Non-Accountability?

In my sessions at conferences, I discuss the importance of measuring and holding employees accountable. Doing this consistently allows you to identify your top performers, check for consistency across areas of responsibility and identify employees and/or processes that may need…

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Added by Richard Holland on October 3, 2013 at 5:49am — 6 Comments

Morph Be-Backs into Buyers

How’s your attitude towards shoppers who walk without buying? 

  • Snarky?
  • Ambivalent?
  • Opportunistic? 

The right first response should be, with curiosity: Why didn’t the customer buy? A range of reasons might answer the question – from wrong inventory and price to poor presentation or dislike of the sales associate. 

For whatever reason a shopper leaves the showroom without buying, the productive attitude is one that focuses on opportunity.…

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Added by Jeff Cotton on September 26, 2013 at 8:03am — No Comments

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