Creating lasting connections with customers offers many benefits, such as repeat business, a robust brand reputation, and customer loyalty to your dealership. In an industry with many routes for a customers to purchase and maintain their vehicles, trust in your dealership is a must.

According to a Zippia study, 65% of an average company’s business comes from existing customers. The study also reveals businesses can increase profits by 25-95% by increasing customer retention by only 5%.

Did you know that more than 10 million electric vehicles are on the road worldwide today? To put this into perspective, that figure was only 53,000 in 2012, representing a massive 18,000% growth in the EV market. As the EV market continues to thrive, exploring the benefits of vehicle service contract coverage, the costs associated with electric vehicle repairs, and the unique technical requirements of these environmentally friendly vehicles is essential.

Vehicle service contracts, commonly referred to as VSCs, are the piece of vehicle protection that most owners don’t realize they need. If you’re a dealer, you know that most customers decline immediately. You hear polite declines of “no thank you” or “I don’t need that.” They look at the initial cost of the contract instead of the overall big picture and how much they could save if the vehicle has mechanical issues down the road. 

In today’s digital age, automotive dealerships possess a large amount of consumer data that can include everything from personal information to financial details. This information must be safeguarded to protect both the dealership and the customers. The Gramm-Leach-Bliley Act (GLBA) Safeguards Rule is a standard set by the Federal Trade Commission (FTC) which requires organizations to create and maintain an information security program to protect consumer data.

As a dealership owner, GM, or service department manager, you always look for ways to improve your business’s bottom line. One of the most effective ways to do this is by focusing on your service department’s profitability. In this blog post, we’ll share five simple strategies that you can implement to boost your service department’s profitability and increase your overall revenue.

A vehicle purchase is the first step in building a relationship between a dealership and a customer. However, when a customer drives off the lot, it becomes incrementally harder to recapture their business later in the lifecycle of vehicle ownership.
Post-sale marketing has unlimited potential for building positive and lasting relationships between your dealership and customers.

Service contracts provide peace of mind to vehicle owners, covering unexpected repair costs and protecting their investment. However, many customers don’t purchase a service contract at the point of sale, leaving potential revenue on the table for dealerships and a great opportunity for remarketing to these contacts.