It's time to end your confusion about 3 stage lead management. You need to know the truth. It has been said that 90% of leads are dead ends, but is that really true? Is there a way you can get past the dead-end leads and actually get something done with them?
There are a lot of solutions in the market, but most of them have a problem: they use a one-size-fits-all lead management funnel. This is not effective because it can't adapt to your specific business needs. It's a very common thing among marketing automation tools available today.
After Sales Customer Categorization
- Customer Retention
- Customer Acquisition
Customer Retention
Dealer's ability to turn Sales Customers into repeat buyers and prevent from switching to a competitor dealer.
Customer retention is cheaper than customer acquisition.
There are a few ways to improve your retention
Step-1
- List out your customers who are bought your vehicles from you
- List of customers who are visited for service
- Reconcile who are the customers who have missed their vehicle service
- Calculate retention rate
Step-2
- Service Reminder Call
- SMS Communication
Step-3
- Take instant feedback from the customers who got their vehicle serviced
- next day call by Service Advisor to the customer
- Post Service Feedback from CRM
- Complaint Categorization
- Respond to customer support queries quickly
73% of customers surveyed said that speedy support resolutions are key to a good customer experience
How do you measure your customer retention rate?
The customer retention rate is the percentage of previous customers who remained loyal to your business over a period of time.
To calculate it, pick a period of time you want to measure, and then identify the following:
- Number of customers at the start of a given time period (S)
- Number of customers at the end of that period (E)
- Number of new customers added over the duration of that period (N)
Customer retention formula
((E - N) / S) * 100 = X
Customer Acquisition
new customer acquisition is essential to generate leads and acquire new customers in order to expand the customer base, utilize capacity & maximize revenues.
Step-1
- Run a referral program
- Make your existing & loyal customers your business ambassadors
- Incentivise your loyal customer for bringing a new customer
- Data acquisition
- Telecalling & Activities
- Service campaigns
Step-3
- Optimization of website
- Online Service booking
- Vehicle Status & Service History
- What's app & SMS notifications
- Email Marketing
- Focus on SEO
- Blogs & Forums
- Use of Social media platforms (Facebook, Twitter etc.,)
Step-4
- Tie-ups with Insurance companies
- Tie-ups with Towing agencies
- Tie-ups with Roadside assistance
The entire dealership runs behind customer complaints, no one talks about Customer retention & acquisition
Retaining customers is the first priority of any business. This is why it should be one of the top priorities in marketing strategy because if you don’t keep your customers, you won’t have them to market to. The most important aspect of retaining customers is providing excellent customer service. If you do not provide excellent service it will be difficult for you to get new & repeat customers
