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 Director of Marketing DrivingSales Valerie Vallancourt Vice President of Marketing Outsell
VALERIE VALLANCOURT Vice President of Marketing Outsell
IT COSTS 5X 25X MORE TO ATTRACT NEW CUSTOMERS Source: The Value of Keeping the Right Customers, Amy Gallo, Harvard Business Review, October 29, 2014
Poll question #1 What are you doing to retain sales customers? a) Nothing b) Email c) Direct mail d) Phone calls e) Engagement through social media f) Other g) Mix of B-F
Poll question #2 What are you currently doing to retain service customers? a) Nothing b) Email c) Direct mail d) Phone calls e) Engagement through social media f) Engagement in the service drive g) Other h) Mix of B-G
The Value of Retaining Existing Customers Repeat business Word of mouth referrals Save on acquisition costs
The most successful customer retention tactics include: Loyalty Programs Data-Driven Engagement Reputation Management Source: Client Heartbeat
So what is Marketing Automation?
Marketing automation example
Dynamic Marketing Automation Email Clicks DMS Data Mobile Data OEM Data Shopping History Web Browsing Data CRM Data Marketing Automation DYNAMIC CONTENT Incentives Online Preferences Social 3 rd Party Data Lifecycle Data
Marketing automation gets people to the lot your job is to keep them there
Every single customer retention tactic also plays into service retention Loyalty Programs Data-Driven Engagement Reputation Management
Service Customer
The Age of Uber, Spotify, Netflix LISTEN TO ME KNOW ME CONNECT ME HELP ME
Marketing Automation DYNAMIC CONTENT
Service specific Loyalty Program Provide check-in options for: Dealer website Mobile app Social Sites
You need to invest in your service facility because the more satisfied [customers] are with your service, the more loyal they will stay to your business. Source: IHS Automotive, 2015
Engage customers with data-driven communications
88% OF CONSUMERS READ ONLINE REVIEWS TO DETERMINE THE QUALITY OF A LOCAL BUSINESS 80% OF SHOPPERS SAY THEY ARE MORE LIKELY TO TURN TO THEIR SOCIAL NETWORKS FOR CAR BUYING ADVICE 30% DEALERS WITH NEGATIVE REVIEW SCORES MAY LOSE 30% OF THEIR SEARCH TRAFFIC
New vehicle purchase!
An increase in customer retention by as little as 5 percent can lead to increased profits of 25% - 95% Source: Institute of Management Sciences
Service Retention SUCCESS Loyalty Programs Data-Driven Engagement Reputation Management
Be the Netflix of car shopping
MATTHEW WELCH General Manager Auburn Volkswagen
UNKNOWN TERRITORY AND INCONSISTENT LANDSCAPE How could we as a dealership team: 1. Serve and bless our customers while still operating successfully 2. Retain as many of our customers as possible 3. Identify them 4. Sort them 5. Communicate with relevant content
ALL ABOUT SOCIAL
Loyalty Programs
Data-driven Engagement
Top of mind for 2017: Communication Team Goals Custom Content Social Media
ADAM SHIFLETT Senior Director of Marketing DrivingSales
REMEMBER THE CUSTOMER DATABASE
Your dealer s LOYALTY PROGRAM competes with every program your customer has
IS YOUR DATA READY FOR BATTLE?
TIME TO FIX YOUR SALES FLOOR
KEY TAKEAWAYS Data is your secret weapon Retention starts with Loyalty Data driven engagement Reputation management Marketing Automation technology makes these tasks easier but must be dynamic Auburn VW recommends focusing on video, social, and automated, individualized marketing communications
PRESENTER INFO Matthew Welch General Manager Auburn Volkswagen mwelch@auburnvw.com Adam Shiflett Senior Director of Marketing DrivingSales adam.shiflett@drivingsales.com Valerie Vallancourt Vice President of Marketing Outsell Valerie.Vallancourt@outsell.com