CRM (Customer Relationship management) is the strongest and the most efficient approach in maintaining and creating relationships with customers.
Dealership CRM Equals Profit Increase
That is the reason why Automotive CRM should make up a big part of your dealership business. Collaboration and vehicle personalization can create not only profitable customer relationships, but can drive brand loyalty by appealing to an individual’s need for self-expression.
Tactical efforts to improve customer experience are important. But, the fundamental challenge in the current automotive industry is its inability to consolidate customer touch points (vehicle purchase, sales satisfaction index [SSI], Captive Finance, warranty, CSI, customer pay service) into a single customer-centric view. Without this singular view, customers are bombarded with often conflicting messages and offers from the OEM, the Dealer and the Captive Finance source, which invariably drives down credibility and damages the overall brand experience.
An Automotive CRM System will Save Your Car Dealership
As a result, dealerships are losing share of the aftermarket. According to the AAIA, in 2008, dealerships’ share of the automotive aftermarket fell to below 30%, the 6th consecutive year of decline. This not only impacts short-term dealer profitability, but long-term re-purchase consideration and loyalty as well.
In today’s challenging economic times, dealerships and OEMs can’t afford to lose loyalty or vehicle sales. Installing a Dealership CRM system can definitely improve the situation and help in challenging the new ways of marketing and business in an efficient manner. Maintaining customer relationships and customer loyalty to a brand is essential to not only prosper but to survive.
An Increasing Demand from Informed Car Buyers
As a proven fact, more and more car shoppers today take the time to do a complete research on a particular vehicle and its benefits such as warranty, safety, economy, service and many other aspects. Car dealers have to be prepared to present hard facts on how they will keep track of the customers’ needs when it comes to service appointments, re-purchase opportunities, leasing contracts, etc.
No more will car salesmen, parts and service folks forget that “Mr. Smith” has a 10,000 mile service appointment coming up or that their leasing contract is about to expire, etc. As a matter of fact, having an Automotive CRM provides an additional feeling of confidence and trust from any current car shopper.
We have to go back to the basics. A happy customer is always a returning customer.