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million new vehicle sales in 2024 and 2 million in 2025. Mazgay said 75 per cent of customers desire more interactions with real people as technology advances, citing research from PWC. Understand your customer,” said Mazgay. Johnson said BMO projects 1.89 He said another trend is the rise in personalization.
For dealers, customer retention is a crucial factor for sustained growth and success. Studies have shown that it’s generally more cost-effective to retain an existing customer than to acquire a new one. This poses significant challenges and risks of customer defection industry wide. Who Are Nomad Buyers?
In Part 1, we covered that every B2B SaaS company has great intentions to treat their customers well, but sometimes bad processes get in the way. True partnership with the customer is often mentioned in speeches and marketing, but it is very difficult to execute. Customer satisfaction surveys: Establish a protocol for regular surveys.
With customers waiting longer than ever between new vehicle purchases, refining your dealership’s service department process to generate more revenue can make a critical difference in your dealership’s bottom line. This not only represents a massive revenue opportunity for repair orders – service loyalty fuels sales loyalty.
In today's market, success in car sales hinges on harnessing data and technology. Specifically, tools like customer data analytics and AI-driven CRM systems allow dealerships to identify potential customers and tailor personalized marketing efforts towards them.
Gubagoo has announced Curator, a Unified Intelligence Engine for automotive retailers. Curator collects and unifies first-party data from multiple sources to build a single, complete view of each customer. Combining all of this data into a Unified Intelligence Engine creates a holistic view of the dealership’s customers.
This groundbreaking technology eliminates silos that previously prevented dealerships from getting the most out of their data and allows them to connect with customers on a deeper, personal level, said Brad Title, president of Gubagoo.
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