ADP Lightspeed, a premier provider of automated dealer solutions, announced a 12-part study of a dealer customer’s life cycle.
This study will focus on four main parts of a dealer’s customer strategy, which include customer: Acquisition, Experience, Growth and Loyalty to demonstrate how improving a customer’s experience at a dealership can increase dealer profitability.
A recent study from ADP Lightspeed found that six out of 10 first-time parts customers never returned to the dealership after their first purchase. This customer loss could be attributed to the fact that often the majority of a dealership’s marketing efforts, communication and investment is placed on new customer acquisitions. Few dealers have created effective processes for retaining customers after they buy.
“With people holding onto units longer coupled with heavy price competition online, dealers must rethink the way they engage customers,” said Greg Smith General Manager, vice president of the Salt Lake City-based company. “Dealers need to look at the lifetime value of every customer and create a plan that captures that entire value. Our hope with this series is to help dealers recognize and take advantage of their full customer portfolio.”
Using best practices and industry data, each article in the series will discuss specific ways to implement aspects of a complete customer lifecycle marketing plan. The goal of the articles is to help dealers build successful communications that engage their customers and create more loyal customers.
The twelve white paper series will be available in July 2011 on the company’s website, adplightspeed.com, under the “Knowledge” tab. Those interested in the series can also sign up for automatic email updates at adplightspeed.com in the “Knowledge” section of the site or by following @adplightspeed on Twitter.
ADP Lightspeed ADP Lightspeed is a part of ADP Dealer Services, which provides integrated computing solutions to over 25,000 auto, truck, motorcycle, Powersports, and recreational vehicle dealers throughout the U.S., Canada and Europe.