Customer retention is (or certainly should be) the priority in most retail sectors but is particularly pertinent in today’s tough economic conditions.
It is well known, especially in the motor trade, that profitability is greatly enhanced through loyal customers who keep coming back to the business as a result of a “complete experience”.
As car buyers become more educated about different makes and models through the power of the net they also want more from the experience of buying and although getting the right model at the right price is an important factor it is not THE most important factor to encourage repeat business.
Buyers are far more likely to buy the same make of car from the same dealer if they are satisfied with the service even if the car has not fully met with absolutely all their expectations.
The only comparison I can think of is when we go to a restaurant and the food may be sensational and beautifully presented and even reasonably priced but if the ambience and atmosphere is not conducive to an enjoyable evening or the service standards have fallen short of expectations will you necessarily visit that place again?
On the other hand, and I can speak from personal experience here, my time is precious and although I enjoy good food and wine I want to feel relaxed and valued as a customer so I will accept average food if I am well looked after and blown away by the service. Of course it would be nice to have everything right every time but the experience wins hands down.
I believe that it’s this “all round experience” that customers are looking for and that is the challenge that needs to be met in today’s showrooms.
If customers are taking the time, after searching the net for models of interest, to travel to a showroom it is vital that they get the best experience the staff can offer. Even if there is not a suitable car, or a deal cannot be concluded, there is always the fact that if the experience was positive it can passed on to others that the dealership is definitely one to consider.
It’s a definite win/win that really shouldn’t be that difficult to achieve.