We assist dealerships to leverage proven marketing systems to get dramatic growth in their business. We accomplish that by focusing on improving companies strategic planning to better utilize the marketing tools that they already have and to incorporate new ones as they are called for in a well thought out and developed strategic plan for continuing growth and development.
It is our approach to assist businesses to plan for and optimize to maximize their growth is to focus on the four R’s. They are reputation, reach, resell and referral.
The first R – Reputation.
It has never been easier for potential customers to find out what others think about your business. Nowadays, people search online before they buy. In fact, studies show that 74% of U.S. consumers choose to do business based on online feedback – even when it’s from total strangers!
If your business is like most of our clients businesses, you have not been very pleased about some of the things people have written about your business!
The second R is Reach.
Our experience is that a business that wants to grow needs to make sure that more people know about it today than did yesterday. If you’re not meeting new people and telling them about your product or services, you’re not developing a pipeline of potential new customers and future sales will suffer as a result/
The third R is Resell.
Once all the hard work of getting a customer is done, it is critical to make sure to maximize the lifetime value, or LTV of that customer. This means increasing the dollar value of each transaction or by increasing the frequency that the customers buys, either by offering add-on services or upsells or cross-sells. McDonald’s is the classic example: “Do you want fries with that?” “Do you want to super-size your order?”
These days there are so many cost effective and trackable ways to bring customers back to your business. One example, consider SMS (text) coupon campaigns. With monthly costs lower than $50 to send 1000 text messages, and the qaverage redemption rates of 20% or more, it potentially costs less that 50 cents per customer through the door.
The forth R is Referral.
Since you’re doing such a great job taking care of your customers and keeping them happy, the best thing you can do is set up systems to maximize the benefit you get from them, so that they are doing the marketing for you!
It’s well known that if you just leave it up to people to do referrals for you, very few will even do it even if they are very happy with you. You have to make it very easy for them to do it – almost effortless- if you really want to maximize your referrals.
We all want referrals because they help us save money on marketing. But there is even more to gain from referrals than cost savings: according to a case study noted in the Harvard Business Review, referred customers are, on average, about 18% more likely than others to stay with a company and they generate 16% more in profits!
The fifth R -A new addition to the pyramid, the Reputation Marketing Culture of the Company.
Recently we realized that there was an even more fundamental level to the pyramid. I am calling it the Reputation Marketing Culture of the Company.
It doesn’t help in the long run for a dealership to take care of their online reputation, cleaning up and responding to bad reviews and generating great ones if their employees continue to act in ways that produce disgruntled and dissatisfied customers. Only with purposefully education the entire staff about the importance of their every action and how that has a direct and immediate relationship to the businesses success and hence their jobs and salaries, will the online reputation improve and stay improved.
To sum it up.
It is our experience that maximizing any of these R’s can lead to 25+% growth in your business, and maximizing all five gets a compounding effect, helping your dealership really explode and start growing fast.
If this resonates with you and the challenges you face growing your business, please call for a marketing consultation where we can explore with you the current state of your marketing efforts and assist you to develop a strategic plan for growth. This meeting is totally on us as we believe that all businesses ought to have a predictable system for growth.
Call Us: 818-890-2929
Did you know?
Why is Online Reputation Marketing important?
Do you want this review on your Google page
To trump all of these??
When people see poor reviews they think, “Where there is smoke there’s fire.” It is a natural human tendency to assume that the one negative report on your businesses Google+ Pages listing is just the tip of the iceberg and that will negate all the good comments and they will move on to your competitors.