5 Customer Parameters That Matter

More than 52% of marketing executives depend on their gut feeling when making marketing or customer decisions. Intuition is a tricky tool, and it may cost you customers.

To make meaningful decisions, Customer Data is the key. Here are 5 important numbers that matter.

1. Customer Engagement Data

Customer engagement data lets you understand how well your customers are interacting with the dealership. It may include data from your auto dealer website, mobile app, social media business pages, email, paid ads, and customer service data.

The traffic, clicks, feedback, online reviews, open rates, impressions, conversions, etc. helps in analyzing customer engagement rates.

2. Behavioral Data

Customer behavioral data helps in understanding the pattern that customers follow throughout the purchase journey. To collect behavioral data, you may use transactional data, product usage, and qualitative data.

3. Customer Lifetime Value

Measuring customer lifetime value can be challenging when your dealership is young. However, it helps in deciding how much your business can spend on retaining customers before your customer retention strategy becomes unprofitable,

4. Average Response Time

No one likes to wait for a reply, especially customers when they need support. Your average response time directly impacts customer satisfaction.

Accurately measuring the response time takes both systems and training. But it is well worth the effort.

5. Customer Churn

Customer churn is the rate at which your customers leave. It is obtained by dividing the number of customers lost at a particular time-frame by the number of customers you started with at that time.

The value tells you whether your customers are satisfied with your business or not. Also, it lets you understand if the customer acquisition cost will go higher or lower.

For more information about customer data, Contact Us.