Thursday, March 22, 2018

Dealership Loyalty

We know - cycle buyers are loyal. They know what kind of bike they want - and they will do just about anything to get it. But what about their loyalty to the dealership that sold them that bike? Honestly? It doesn’t run as deep. We asked buyers directly if they feel strongly about purchasing their next bike from the same dealership as their last - and 78% said no. But, we also asked them what a dealership could do to earn their loyalty, and we’ve got those answers for you here - because we both know that second and third sale is as important as the first. 

What the vast majority of these buyers value most when they are deciding between dealerships - and it should come as no surprise - is price. Behind manufacturer, price is the biggest motivator for these buyers. They have a budget - and they are sticking to it. After that - service (14%) and reputation (13%) were neck and neck, which makes sense. These buyers want someone reputable that can help them through the process and keep their bike running afterwards. This is where proactive reputation management comes in. You should be on top of what’s being said about your company online - whether it’s on social media platforms, review sites like Yelp, or search engines. You should check regularly to make sure that your information is correct and consistent, monitoring any reviews that may come your way, and actively respond to questions and comments - basically engaging with the buyers. All of these platforms are also great places to promote what else you can offer buyers beyond the sales process - like service - and can help you build a strong reputation that extends beyond just word-of-mouth. 

While that’s all great for attracting buyers who haven’t purchased from you before - what about keeping the ones you already have? In either case, the basics are still the same. Buyers shared they want you to give them better sales incentives (35%) and better service options (28%) than the competitor. This feels like the best and worst news they could offer because it’s so black and white. These buyers are deal motivated, so they want to feel like they’ve gotten something from you that they couldn’t get elsewhere - so keep that in mind when you are engaging them in the post sale process. Consider putting programs in place to eliminate buyers remorse - for instance, maybe you review the NADAGuides price estimator together to see how their bike falls on the scale or offer them a percentage off for being a repeat customer. Or try to coax them back in when they are ready to sell with programs designed to get them more money on their trade. When it comes to service, you could give them a discount on the anniversary of the sale or send them reminders to come in for milestone services with a coupon. Make sure to call these things out on your social platforms and website - and gather testimonials when they are successful for your customers - people love to know about other success stories.

At the end of the day - knowing that price and service are driving the buyer’s decision will help develop targeted strategies and campaigns to address those needs - and hopefully, win their loyalty.
Trader Online Web Developer