Tips You Can Learn From Free Agency To Help With Customer Retention

When it’s the offseason for a sports league, it can be a dull time for fans. However, free agency can add some excitement, as it’s an opportunity for teams to either improve their rosters or retain the talent already there. Watching how some teams approach free agency made me think there are some tactics your dealership could be implementing to make sure you win free agency, or in this case, keeping customers.

Respect Loyalty

Bringing in new customers can be an exciting sales opportunity, but it’s important to take care of your current customers too. How many times have you seen a team lose a star player because the player didn’t feel valued enough? The same can happen with your customers. How do you make sure you’re dedicating the proper time and resources to keeping current customers happy? Understanding the lifetime value of the customer is a great first step. Customers who have an established history with your dealership are more likely to buy from you again and refer you to others. Which is why it’s important you give them enough attention. Providing a personalized experience anytime customers interact with your dealership can go a long way, whether that’s greeting them by their first name when they call or following up on previously declined service work with a custom discount. Just like a team trying to keep an athlete, you can make the necessary moves to strengthen your relationship with your existing customers to ensure they stick with you long-term.

Stay Innovative

During free agency, teams want to give players plenty of reasons to sign with them, like making smart draft picks and trading for additional talent, thus showcasing their dedication to winning. Plenty of times a player will leave a team because the franchise is stagnant and doesn’t improve. The same goes for your customers. If the car buying process is manual or feels clunky, they will start to look elsewhere. Implementing a more seamless experience like being able to complete aspects of the deal online or approving service jobs electronically can help your dealership continue to evolve with the industry. If you’re constantly looking for new ways to provide a smoother experience, your customers will want to keep coming back. Another way to make sure you’re meeting those customer expectations is to ask them. Get their opinions from surveys and verify you’re implementing processes that are important to them.

Be Proactive

A lot of free agency deals get done early on, and that’s because the successful teams have a clear strategy of how they want to approach the first few days. Some teams even get contract extensions done early so they don’t have to risk their player looking elsewhere. You can do the same thing with your customers. Get them thinking about their next vehicle early, and not just a month in advance. If a customer is coming in for service that’s also an opportunity for your team to see how they feel about their current vehicle or even propose a new vehicle for them to consider. You can also utilize the performance of your email campaigns. If you see better results when you notify customers of a holiday sale, that could be a sign to either extend the sale or start it earlier so more customers can take advantage of it. Make sure you’re giving your dealership multiple opportunities to get customers thinking about their next vehicle with you.

I’ve seen too many teams struggle in free agency and lose out on some valuable players because they don’t take the necessary actions to motivate players to stay. Learn from these mistakes by properly valuing your current customers, finding ways to improve current processes, and being proactive. Following these steps will ensure your dealership wins their version of free agency.

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