All ADM Blog Posts Tagged 'loyalty' (407)

For car dealers, the opportunity to create loyal customers might start with a sale, but true loyalty is created in the service department. According to a 2017 IHS Markit study, the average length of car ownership is nearly seven years. That's a long time to maintain a relationship with someone until the next sales cycle.

So, the focus must be…

The good news? To date, automotive sales have remained stronger than many analysts originally predicted, with customers of all ages continuing to buy both new and pre-owned vehicles. Considering some of the earlier ominous forecasts, it’s no wonder numerous retailers are…

Have you ever noticed how the market values dealerships versus how it values Software as a Service (SaaS) businesses that derive income from the same automotive revenue stream? SaaS businesses such as CDK trade at mid-20x P/E ratios while dealers trade at 4-6x operating profit.

One major reason for this…

I frequently write about how, in my opinion, dealerships would be wise to expand their thinking and change attitudes towards recall customers … and not just recall customers, but all customers

The customer experience is key to building customer loyalty, increasing referrals and securing repeat…

Today one of five vehicles on the road are under recall.

This year alone there have been 46 million vehicle owners notified of a recall; seven million of which are not related to the Takata airbag issue.

Recalls represent a significant revenue opportunity…

Do you know your customers’ lifetime value (CLV)? CLV defines the monetary value of your customer relationship by how much gross profit they have generated for your dealership.

If you divide your customer database into quintiles, you’ll discover that the top 20 percent is responsible for 79 percent of your…

There is one common problem most companies run into when they start a content marketing strategy. Frequently, executives have unreal expectations and expect to go from zero to hero in a matter of days. They want an immediate return-on-investment – such as leads, engagement or website traffic. I am afraid that is simply…

Back in the early 1990s, the Internet was in its infancy. As a new phenomenon, not every business was sold on its benefits, or even why they should use it. This posed a problem for Cisco, a company whose main product at the time was routers. Cisco needed to prove that, not only would the Internet save companies money,…

A recent blog article by myKaarma CEO & Founder Ujj Nath, posing a great question, “Are QR codes  a technology asset or failure?” motivated me to respond with my own viewpoint on this matter, as it is a divisive topic for…

When automobiles were first introduced into society, people didn’t know what to think. For the most part, early automobiles were reserved for the wealthy, while everyone else continued their transportation needs with the use of horse and carriage.

However, people were very curious about this strange new…

Most dealers know how many cars they sell on a weekly, monthly and annual basis. But if I asked you how many new customers you acquired this year, would you know the answer?

On the service side, you probably know how many ROs were closed last month and how much revenue…

Have any of you had success with QR Codes? By some reports they are making a comeback. But, on the other side of the coin, on an episode of Shark Tank late last year, renowned venture investor Chris Sacca commented that QR codes are “the herpes of mobile…

The automotive industry is changing with self-driving cars, companies such as Uber entering the field and the decline of oil-dependent vehicles.  

To that point, I am sure many of you are familiar with the shocking stories and downfalls of three highly successful companies: Blockbuster, Kodak and…

One of the staples for service department is tires, including sales, mounting, balancing and alignments. Tires are a price leader for your dealership and a great way to get customers in, providing you the opportunity for additional service work revenue.

 …

To stay top-of-mind with your customers, you need to keep in touch.

If you have lifecycle-based communications that launch automatically (triggers), you’re already taking advantage of a great tool for your dealership. This keeps your active customers engaged. However, to maximize…

On average, dealers capture just half of the necessary service work that needs to be performed on vehicles that come into their service lanes. This is a big leakage point that has a direct impact on service revenue. It also offers tremendous untapped potential.

In addition to acquiring new…

Almost half of a dealership’s sales customers never return for their first service appointment – that’s a hefty chunk of a dealer’s lifetime service potential!

What causes this pattern in car buyers, and how can you channel more of them from your showroom to your service lane? AutoLoop…

As GDPR privacy regulations took effect in the EU businesses worldwide began to rethink their lead generation strategy.

Many USA based businesses are now asking people to opt-in to their email list versus distracting customers and potential customers with…

If you have been paying attention to industry trends I am sure you have noticed the ever-increasing gap between the size of smaller dealerships and large auto groups. Groups are swallowing up smaller dealers left and right as they continue to grow.

Of course, size…