2017 Auto Dealer s Guide to Customer Retention

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1 2017 Auto Dealer s Guide to Customer Retention Presented by This webinar will begin momentarily. While you wait, visit Automotive News for breaking news Linkedin for company news /autonews for photo galleries +automotivenews for daily newscasts

2 WELCOME Jim Treece News Editor Automotive News

NAVIGATION TIPS - For a better webinar experience, we recommend closing email and other open programs/browsers, as

3 NAVIGATION TIPS - For a better webinar experience, we recommend closing and other open programs/browsers, as these applications may cause glitches in the steaming audio. To submit a question Download slides Provide feedback

4 2017 AUTO DEALER S GUIDE TO CUSTOMER RETENTION Sponsored By Outsell 2016

5 PANEL INTRODUCTIONS Ed Borg Chief Marketing Officer Hennessy Auto Michele Hall ecommerce Director Lawrence Hall Auto Group Billy Frank General Manager Clear Lake Infiniti Valerie Vallancourt Vice President of Marketing Outsell Outsell 2016

6 VALERIE VALLANCOURT Vice President of Marketing Outsell Outsell 2016

7 5x - 25x Cost of acquiring a new customer vs. retaining an existing one. Outsell 2016 Source: The Value of Keeping the Right Customers, Amy Gallo, Harvard Business Review, October 29, 2014

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9 Now This Is Important Outsell 2016

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11 Your Customers Have Great Ideas! 60% In a study of 1,193 commercially successful innovations across nine industries, 737 (60%) came from customers Outsell 2016 Source: Institute of Management Sciences

12 Streamline The Journey Outsell 2016 Source: David C. Edelman & Marc Singer, Competing On Customer Journeys, Harvard Business Review Nov 2015

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14 81% 73% of consumers are more likely to continue doing business with a brand that offers a loyalty program of loyalty program members are more likely to recommend a brand if they are satisfied with their experience LOYALTY PROGRAMS Outsell 2016 Source: Bond

15 The most successful customer retention tactics using data effectively include: Loyalty Programs Data-Driven Engagement Reputation Management Outsell 2016 Source: Client Heartbeat

16 An increase in customer retention by as little as 5 percent can lead to increased profits of 25% - 95% Outsell 2016 Source: Institute of Management Sciences

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18 ED BORG Chief Marketing Officer Hennessy Auto Outsell 2016

19 Who We Are: We are the Hennessy Automobile Companies 2016 Outsell 2016

20 Outsell 2016 Priority One: Website Conversion

21 We can buy as much traffic as we want. What are you spending on SEM? What are you spending on SEO? What s your bounce rate? What s your average time on Site? How many pages are they viewing? What is the value of that traffic??? Who is your website provider? Excluding Phone Calls, what is your conversion rate? What is our conversion rate? How do we achieve it? Outsell 2016

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26 How many leads???? That s how many leads our trade in tool alone produced on our Atlanta Lexus Site in October 2016!!! Outsell 2016

27 Why it is so important and how. Outsell 2016

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30 A customer s true value emerges over his or her lifetime with your Dealership. A customer is a person who becomes accustomed to buying from you. Without a strong track record of contact and repeat purchase, this person is NOT your customer; he is a buyer. A true customer is grown over time. Acquisition marketing without a continuous engagement strategy and plan is just wasted dollars. Loyal customers are worth up to 10 times as much as their first purchase 61% of revenue comes from existing customers on average Many components, we will only talk about Engagement and Satisfaction Outsell 2016

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32 Outsell 2016 We have many ways to engage a customer today.

33 So how do relationships turn one-time buyers into lifetime customers? Be Relevant! Be Timely! Be Consistent! Be Respectful! Be Specific! Be Personal! Be Mutually Beneficial! Coordinate all efforts through all Channels! Use the Data! Listen for the signals!!! Outsell 2016

34 Reputation Management How do you solicit reviews? How do you prevent negative reviews from going public? What do you do when a review is posted? Outsell 2016

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38 2017 Add attribution pixels to all campaigns Increase embedded video use in Stop remarketing without a purpose Use more micro-sites and Dynamic Conversion Pages with marketing campaigns. Outsell 2016

39 MICHELE HALL ecommerce Director Lawrence Hall Auto Group Outsell 2016

40 Lawrence Hall Abilene Auto Group consist of 7 different franchises with 3 separate rooftops Chevy, GMC, Buick & Cadillac Lincoln-Mazda Volkswagen Lawrence Hall Abilene is privately owned and operated

42 2016 New Car Sales/New Car Gross Pre-Owned Sales/Pre-Owned Gross Increase turn-prevent/minimize loss Service-Implement Scheduling Atmosphere-XTime

43 Lawrence Hall Loyalty Preferred Owner Program CSSR Sales- Offer additional $500 on next trade-in Service Dept-Special Pkg for Loyalty Customer Work our CM process on a daily basis

44 Lawrence Hall Loyalty ALL Departments work synergistically Sales Department work the Service Drive Gourmet Cookie Delivery

45 Lawrence Hall Reputation Management Partnership with Digital Air Strike Work our CM process on a daily basis Capture current contact info

47 Lawrence Hall Customer Retention Orphaned Owner-Manifest list Continue to work customer owner base Utilize Equity Mining data from CM Vendors Business Development-Service Department

48 Sales Forecast Focus on Service-Equity Mining Advertising Funds

49 BILLY FRANK General Manager Clear Lake Infiniti Outsell 2016

50 Are we playing by the right set of rules? Efficent Marketplace Market where all pertinent information is available to all participants at the same time, and where prices respond immediately to available information. How should this effect your advertising? How will it effect your business? Outsell 2016

51 Clear Lake Cares Clear Lake Cares is an initiative to get more involved in the community and give back. Helping is the new selling. We began with a Nominate a Family In Need Thanksgiving Dinner Donation. We received dozens of entries and gave away 3 complete dinners the day before Thanksgiving. Outsell 2016

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56 Reputation Management Micro moments will shape the future Maintaining your online reputation is priority one Having a process in place to garner more reviews Hire a reputation management firm Develop your own internal spiff program The more reviews the better Outsell 2016

57 Customer Retention Offering extra incentives to clients New Vehicles 2 years or 20k miles in free maintenance Free one year road hazard Nitrogen in tires Purchase brand new floor mats on all CPO vehicles VIP events for clients only Team up with local restaurants to offer an exclusive events Make sure events are away from the dealership Outsell 2016

58 Outsell 2016 Why are our standards set so low?

59 KEY TAKEAWAYS Know the current market and change your marketing plan Find niche way of making your clients feel special Protect your reputation and know why consumers make choices in todays market Raise your standards Outsell 2016

60 Webinar Overview Deploy a strong cadence of communications through online and offline channels Make the most of your loyalty programs Maximize customer satisfaction through reputation management and surveys Create dynamic, behaviorally targeted customer retention campaigns Outsell 2016

61 PRESENTER INFO Ed Borg Chief Marketing Officer Hennessy Auto Michele Hall ecommerce Director Lawrence Hall Auto Group Billy Frank General Manager Clear Lake Infiniti Valerie Vallancourt Vice President of Marketing Outsell Outsell 2016

62 Outsell 2016 QUESTIONS

63 THANK YOU The recorded webinar will be available for 12 months at You will receive an when it is available. additional comments/questions to

Maximize Customer Retention Across Individual Lifecycles and Expand your Reach with Marketing Automation

Maximize Customer Retention Across Individual Lifecycles and Expand your Reach with Marketing Automation Sponsored By PANEL INTRODUCTIONS Matthew Welch General Manager Auburn Volkswagen Adam Shiflett Senior