Your Database Can Carry Your Dealership Further Than You Think in Slow Times
Database marketing is something that often gets overlooked, or briefly mentioned and then set aside because everyone likes to focus on new sales. However, there has to be a backup plan when the new sales stop coming. Right now, the industry is seeing some record-breaking sales. Given the current economic climate and worldwide COVID-19 pandemic, it’s interesting that now is when people are purchasing Powersports units. Still, it’s happening, and it’s getting noticed.
Eventually, this is going to slow down. For some dealers, it probably already has. When that happens, you can’t just wait for another rush. You’ve got to find a way to keep the business coming, and when things are slow you want to do it on a shoestring budget if you can. The secret here isn’t a secret at all. You need to have a solid database in place so that you can rely on it in slow times! Database Marketing is another attribute to having traction with a solid database.
BIGGEST KEYS TO SUCCESS
Your database is one of the biggest keys to success with customer retention.
If you have a well-organized and well-cultivated customer database, you’ll have access to a wealth of information. You can find out how often people upgrade their equipment, which customers are most likely to be repeat customers, and what kind of events are coming up that could garner a new sale from an existing customer. There's so much insight to gain here, and it’s going to help you take your retention efforts to the next level.
More importantly, it might be the one thing that gets your dealership through the slow times. When you’re working with your database, after all, the only thing that you’re investing in is the time of your sales staff to do some research and see what potential leads can be found. Thanks to the available reporting and analytics tools, even that doesn’t take a lot of effort because it’s all fairly automated.
When things are slow, some people panic and go into the hyper-marketing mode. You can’t afford to do that, and definitely not in the current climate. You need to be smart about your efforts during the lulls. Taking the time to improve customer retention isn’t just a good use of the downtime, it’s a great way to boost retention rates and get your dealership on track for success for the long run. With a solid database, the sky is the limit, no matter what the market looks like. This helps push forward the Database Marketing efforts!