Countless product providers use the word “retention” in their marketing campaigns, often boasting that their products contribute to an increase in customer loyalty. Very few provide the specific reporting necessary to prove that a lift in retention has actually occurred, and fewer still seem to have really thought out their strategies for keeping customers coming back to the selling dealer.
As far as I’m concerned, that’s the only meaning of the word that matters. When you are trying to decide which products are going to get a piece of the precious real estate on your F&I menu or be offered on the showroom floor or in your services lanes, ask yourself whether any of them will make your next customer take time out of their busy schedule to come back to your store two or more times a year for the rest of their ownership cycle.
I strongly believe that prepaid maintenance (PPM) programs meet that standard. Let’s take a closer look at how dealers are using PPM to drive customer loyalty and fixed ops revenue.
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From Autodealermonthly.com, by Ryan Williams