Auto dealers have always looked to conquest sales to grow their businesses and increase car sales – and for good reason. Unless your dealership has some sort of far-fetched success with first-time car buyers, year-over-year growth can truly only come from winning customers from some other dealer.
The key to a successful auto dealership conquest strategy is effective conquest marketing. This can include both conquest advertising to completely new customers, as well as relationship marketing with your service-not-sold customers. But in the process of trying to win someone else’s customer, don’t forget to protect your own customer base against all your competitors who are trying to do the exact same thing to you.
In this blog, Mastermind shares some key conquest marketing concepts, including:
How Predictive Marketing Drives Conquest Efforts
When you’re competing with another dealership to conquest their customer, they have one major advantage over you: they know the customer, and you don’t. That’s why predictive marketing is such a critical component of a successful dealer conquest strategy. It leverages customer data and analytics to jump-start your relationship with the customer, giving you information and actionable marketing insights that minimize your competitors’ advantage from the start.
Market EyeQ analyzes and distills a wide range of automotive marketing data to generate an individual Behavior Prediction Score™ for potential conquest customers, identifying those prospects who are most likely to respond to your dealership’s available offers. You can then engage with the highest-quality prospects with a personalized mix of marketing communications that deliver the right message, in the right format, with the right offer, at the right time. Each communication builds off the previous and works to get car buying prospects on the phone and into the showroom where your sales team can close the deal.
Personalized dealership marketing powered by predictive analytics is the most effective marketing tool dealerships have ever had, and it’s a critical component of any conquest marketing strategy. Without it, you’re simply hoping your competitors are bad at keeping customers happy.
Conquest Your Service Drive for New Car Buyers
Market EyeQ’s Service Conquest capabilities empower dealers to leverage their fixed ops as the best and most efficient source of conquest vehicle sales. When Market EyeQ is fully integrated into a dealership, breaking down the barriers between sales and service, our dealer partners report activating 55 percent of service-not-sold customers into qualified, in-market new vehicle sales leads. That’s roughly four times the automotive retail industry benchmark, which is already recognized as being five times cheaper than other marketing and sales models.
We’ve found that the most effective service conquest operations have a dedicated person – if not a dedicated team – working in the intersection between service and sales. This service salesperson is responsible for using Market EyeQ’s Service Conquest analytics and maintaining a close relationship with service advisors to identify high-quality prospects and engage them with personalized and targeted offers to trade in or trade up to a new vehicle.
Conquest-Proofing Your Customers Through CX
We’ve written before about dealership customer experience (CX) being a critical factor in improving dealership retention and loyalty. Simply put, if your customers’ loyalty is weak, your competitors will have easier targets for their own conquest efforts. But if your customers feel valued and cared for by your team, they’ll be less likely even to consider competing conquest offers.
While the best CX strategies are powered by data and predictive analytics, auto dealership customer relationships ultimately boil down to the interactions your people have with your customers. All the data and all the offers in the world won’t keep an unhappy customer around, just as they won’t pry a happy customer away.
Yes, building and maintaining a dealership culture driven by CX is hard. But predictive analytics platforms such as Market EyeQ make it easier by automating much of the lead identification process for sales and service outreach and providing your team with actionable insights that connect with your customers’ individual personalized needs. Effective dealership leaders build on that foundation by measuring and managing behaviors that result in quality CX by everyone in a dealership, especially in cases where a short-term mindset could come into conflict with a customer’s long-term satisfaction and loyalty to your dealership.
What does your dealership’s conquest strategy look like? If you don’t think you have an advantage over your competitors when it comes to capturing their customers and keeping your own, contact us for a free consultation.
Read more about how the Market EyeQ sales platform can help with car sales.