Retention Deficit Disorder - Danny Benites - Innovative Dealer Summit 2015
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The document discusses strategies for improving customer retention at a car dealership. It provides statistics showing sales and service increases since 2011. The document advocates developing a customer-first mindset, loyal employees to create loyal customers, and programs to incentivize customer loyalty rather than just transactional purchases. It also promotes focusing marketing efforts on retaining existing customers rather than just attracting new customers.
Retention Deficit Disorder - Danny Benites - Innovative Dealer Summit 2015
- 2. Retention Deficit Disorder Danny Benites General Manager Greg Lair Buick GMC @Danny_Benites 806.433.4424 Retention Deficit Disorder (R.D.D.)
- 3. Retention Deficit Disorder Brag-O-Graphic Stats that will hopefully make you listen for a few minutes. Sales Increase since 2011 Parts & Service Increase since 2012 Sales Effective GMC 4th in the State of Texas 362% 244% 211%
- 4. Retention Deficit Disorder Net Advertising Cost Per Car Sold in 2014 Of Current Used Inventory Is less than 29 Days Old Service Retention Rate 21% over National Avg. $97 78% 94%
- 5. Retention Deficit Disorder Obligatory Retention Stats 60-70% Stuff I found on the interweb. Likelihood of selling NEW CUSTOMERS increase in retention has the same effect as decreasing costs by Likelihood of Selling REPEAT CUSTOMERS 5-20% 2% 10% Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy. Marketing Metrics.
- 6. Retention Deficit Disorder 01ONE CUSTOMER MINDSET 02 LOYAL EMPLOYEES LOYAL CUSTOMERS 03PROGRAM CUSTOMERS FOR LOYALTY 04INWARD -VS- OUTWARD MARKETING Keys to an Insane Retention Culture
- 7. Retention Deficit Disorder Breaking Down the Walls ..between Sales and Service.
- 8. Retention Deficit Disorder 01 What We Say 02 How We Pay 03 The Way We Play Breaking Down the Walls ..between Sales and Service.
- 9. Retention Deficit Disorder 01ONE CUSTOMER MINDSET 02 LOYAL EMPLOYEES LOYAL CUSTOMERS 03PROGRAM CUSTOMERS FOR LOYALTY 04INWARD -VS- OUTWARD MARKETING Keys to an Insane Retention Culture
- 10. Retention Deficit Disorder Satisfied Employee Creating Ambassadors Cultivate believers. Level of employee engagement must match customer engagement. AMBASSADORAMBASSADOR Engaged CustomerEngaged Employee Satisfied Customer
- 13. Retention Deficit Disorder 01ONE CUSTOMER MINDSET 02 LOYAL EMPLOYEES LOYAL CUSTOMERS 03PROGRAM CUSTOMERS FOR LOYALTY 04INWARD -VS- OUTWARD MARKETING Keys to an Insane Retention Culture
- 14. Retention Deficit Disorder Customer Loyalty Programs Meet Cocoa. She’s loyal.
- 15. Retention Deficit Disorder Trade Reimbursement Bonuses - Fix It Right the First Time $300 Conflict Resolution Drive a Car for FREE Actually Used 8 LOYALTY Memberships 18 Customer Loyalty Programs Are your customers loyal to you or your punch card?
- 16. Retention Deficit Disorder 01ONE CUSTOMER MINDSET 02 LOYAL EMPLOYEES LOYAL CUSTOMERS 03PROGRAM CUSTOMERS FOR LOYALTY 04INWARD -VS- OUTWARD MARKETING Keys to an Insane Retention Culture
- 17. Retention Deficit Disorder Equity Mining Service BDC 1st/2nd Service Visit Bonus 50% of Ad Budget Your sitting on a friggin’ goldmine. Quit focusing only on price-conscious shoppers.
Editor's Notes
- #16: Please know, I have nothing against Customer Loyalty Programs….First things first…