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All ADM Blog Posts Tagged 'retention' (352)

First Time Vs. Repeat Buyer: The True Path To Profitability

Every day, dealers are faced with multiple decisions about various facets of their business. Among them: constantly trying to decide if they should invest in buying leads to conquest more consumers or if they should spend more to retain existing customers.

At the…

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Added by Doug Van Sach on April 10, 2019 at 5:30pm — No Comments

Customer Loyalty: Playing the Long Game

How long does it take to build customer loyalty? It might start with a great sales experience, but if a customer feels like they've been taken advantage of in the sales process, it will be hard convincing them to come back for service. True customer loyalty is built over a period of…

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Added by Courtney Evans on April 5, 2019 at 6:00am — No Comments

Make That Incoming Call Your Next Sale

As countless studies will attest, the effectiveness of…

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Added by Dean Martin on March 29, 2019 at 7:00am — No Comments


Vendor
How Failing to Train Service Advisors Affects Profitability

All too often, dealers are hesitant to make an investment in training new and Preowned salespeople because turnover in the sales department can be as high as 70 percent according to NADA. Service, however, has always been most dealership’s foundation for profitability. That’s where the phrase “service absorption” comes from.

 

For the most part,…

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Added by Andy Church on January 18, 2019 at 7:07am — No Comments

How to Grow Loyalty with Service Marketing

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…

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Added by Courtney Evans on January 4, 2019 at 7:20am — No Comments

The Growing Used Vehicle Market May Be Great for Consumers

According to a recent article in Automotive News, investors and car dealers have shifted their focus to the…

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Added by Chris Miller on December 26, 2018 at 6:30am — No Comments

fusionZONE Releases Mobile Text Coupons for Sales & Service

Auto Dealers Increase Service Leads Over 200%

With Mobile Text Coupons

 

PACIFIC PALISADES, Calf.,…

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Added by Brett Sutherlin on December 20, 2018 at 7:00am — No Comments

Customer Experience Upgrades in 3 Simple Steps

Customers don’t necessarily arrive at your dealership expecting a great experience. When it comes to service, many dread a higher-than-normal repair bill. They expect to hear additional maintenance is needed, but don’t want to spend a lot of time at the dealership and can get annoyed if made to wait longer than anticipated.

 

Whether this…

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Added by Chris Miller on December 12, 2018 at 7:00am — No Comments

AutoLoop Wins 2018 Tampa Bay Tech Award for Best Workplace Culture

Besides producing industry-leading automotive software, the company has also created a unique workplace that recognizes and incorporates the value of play

 

CLEARWATER, FL – November 14, 2018 – AutoLoop LLC, the leading provider of auto industry marketing, sales, and service solutions, announced today that the company has received the 2018 “Workplace Culture Program of the Year” award from Tampa Bay Tech, Florida’s largest…

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Added by Graham Annett on November 14, 2018 at 7:13am — No Comments

Shifting Winds Reveal Service Revenue Opportunity

After an unprecedented period of sales volume growth, the prediction for a flat Seasonally Adjusted Annual Rate (SAAR) in the coming years has significant implications for dealerships. As competition for new vehicles heats up, front-end margins will continue to decline, forcing more dealers to focus on back end…

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Added by Scot Eisenfelder on November 2, 2018 at 7:30am — No Comments

Why Technicians will Soon Rule the Automotive Industry

I think it’s fair to say that automotive technicians are getting harder to find. These days, less people are choosing a career in automotive repair, even though technicians make great money and many need little or no formal college education or previous experience. Look at independent repair facility employment ads and…

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Added by Chris Miller on October 29, 2018 at 7:10am — No Comments

Retail Hazard Ahead: Vehicle Purchases Experiencing Some Delays

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…

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Added by Doug Van Sach on October 25, 2018 at 7:00am — No Comments

Obtain a SaaS Valuation with Subscription Revenue

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…

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Added by Scot Eisenfelder on October 19, 2018 at 7:11am — No Comments

Where Oh Where Has the Service Department Gone?

Arguably, one of the most important marketing channels any dealership has is their website. Think about it. How much money do you spend simply to get customers there? When you combine all marketing efforts including, but not limited to, SEO, SEM, some third-party listing sites and…

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Added by Brett Sutherlin on October 12, 2018 at 7:00am — No Comments

The Pitfalls of Discounting Service

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Added by Chris Miller on September 27, 2018 at 7:30am — No Comments

Hello, is It Me You’re Looking For?

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…

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Added by Chris Miller on September 21, 2018 at 7:30am — No Comments

How to Boost Your Recall Completion Rate

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…

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Added by Scot Eisenfelder on September 21, 2018 at 7:30am — No Comments

Three Merchandising Best Practices to Maximize Inventory Turn

In my last blog, I discussed how dealerships can lose significant profit by failing to merchandise vehicles efficiently. Simply put, you can’t sell something nobody knows you have. And, with thousands of competing vehicles…

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Added by John Wingle on September 18, 2018 at 7:04am — No Comments

The Impact of Customer Lifetime Value (CLV) on Revenue

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…

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Added by Scot Eisenfelder on September 7, 2018 at 7:06am — No Comments

Your Secret Weapon to Increasing Sales? Reading

Almost every dealership has some degree of training, from the manager telling the salesperson, “Here’s how to do a foursquare, now go get an up,” to a more structured and professional routine, perhaps from an outsourced vendor. The problem is, this training can be inconsistent. Or, due to high turnover, the managers simply…

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Added by John Wingle on September 6, 2018 at 7:14am — No Comments

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