FRIKINtech All the stats! Loyalty, Service, Engagement, all of it from 2024

[Alex Snyder]

2024 Automotive Dealer and Consumer Benchmarks Report | FRIKINtech

frikintech.com

Enjoy!

There are a few that stuck out to me:

• Dealership loyalty is way off. This is going to take years to fix, and those who are actively addressing it will reap the rewards. I believe this has to do with the supply issues of the past few years mixed with a changing of worker attitudes. It all adds up to bad customer experience.
• Service inflation is no joke! Customers are getting tired of these high repair/maintenance bills and are wanting to get rid of that car. Are you there to help them?
• Despite higher interest rates more people are financing. With these higher vehicle prices it may be the only way we can all afford something ...not funny.
• There are a lot of people using your service drive who didn't buy that car from you.
• Most of your database is in a good equity position. Any one of them can decide to do something at any moment. You there for them?
  

 

[BillVaughnAlWestNissan]

2024 Automotive Dealer and Consumer Benchmarks Report | FRIKINtech

frikintech.com

Enjoy!

There are a few that stuck out to me:

• Dealership loyalty is way off. This is going to take years to fix, and those who are actively addressing it will reap the rewards. I believe this has to do with the supply issues of the past few years mixed with a changing of worker attitudes. It all adds up to bad customer experience.
• Service inflation is no joke! Customers are getting tired of these high repair/maintenance bills and are wanting to get rid of that car. Are you there to help them?
• Despite higher interest rates more people are financing. With these higher vehicle prices it may be the only way we can all afford something ...not funny.
• There are a lot of people using your service drive who didn't buy that car from you.
• Most of your database is in a good equity position. Any one of them can decide to do something at any moment. You there for them?

The email numbers surprised me. It's higher than I thought.

The opt-in number is lower than I expected, but the click rate was higher than expected.

Interesting how much higher the click rate was on text over email even though the open rate is higher.

The equity amounts surprised me.

Will be using the repair order costs in store. I passed these numbers along to our team.

 

[Alex Snyder]

The email numbers surprised me. It's higher than I thought.

The opt-in number is lower than I expected, but the click rate was higher than expected.

Interesting how much higher the click rate was on text over email even though the open rate is higher.

The equity amounts surprised me.

Will be using the repair order costs in store. I passed these numbers along to our team.

Email: I think this medium is overlooked and under-appreciated. People who have just done business with you are more likely to engage with your email. Especially true for service customers.

Texting: this medium is being abused. Texting is still the fastest way to get engagement, but the spammers have figured this out too.

Equity: every dealer says this because you're dealing with people who have elected to be in market. We are looking at your entire database. And that's the key - most dealers do not have a good communication process for staying connected to people who have bought cars or done service at their store.

Glad you found a use!

 

[BillVaughnAlWestNissan]

Email: I think this medium is overlooked and under-appreciated. People who have just done business with you are more likely to engage with your email. Especially true for service customers.

Texting: this medium is being abused. Texting is still the fastest way to get engagement, but the spammers have figured this out too.

Equity: every dealer says this because you're dealing with people who have elected to be in market. We are looking at your entire database. And that's the key - most dealers do not have a good communication process for staying connected to people who have bought cars or done service at their store.

Glad you found a use!

Thanks for adding that. The equity aspect completely makes sense. Opportunity!