13 November 2020
Studies show that it costs 5 times more to win over new customers than retaining existing ones, which is why your dealership needs to adopt a sound strategy to reduce customer churn and improve your online reputation.
Here are seven easy ways to get you started:
1. Find out why customer churn happens
This might sound obvious, but it’s a useful tip. One of the easiest ways to find out is by simply talking your customers, in person, or over a call.
You can’t always expect a detailed answer, but you will get some hints that you can work with.
2. Target the right customers
All your retention strategies can go in vain if you are targeting the wrong audience. If the very first interaction with your customer involves terms like "free” and "cheap”, you will likely end up with the wrong customers.
3. Offer excellent customer service
Poor customer service is one of the major factors contributing to customer churn. In fact, more than 70% of churn is triggered by unpleasant experiences.
Focus on delivering excellent customer service, in order to make your customers happy and reduce churn.
4. Increase customer engagement
Interacting regularly with your customers is yet another way to retain them. For instance, you can arrange webinars or Q & A’s, share useful content, provide news updates like new launches, offer special deals, etc. to keep your customers engaged.
5. Delight your customers occasionally
Run that extra mile for your loyal customers. Offer exclusive discounts or incentives to thank loyal customers and make them feel valued and appreciated.
6. Collect customer feedback
Collecting and analyzing customer feedback enables you to measure customer satisfaction and identify areas of improvement.
7. Identify at-risk customers
Identifying at-risk customers can help you successfully prevent churn. Always be on the lookout for sudden changes in customer behavior
Once you know who the at-risk customers are, you can engage with them and fix issues.
For more information, Contact Us.