The High Stakes of ‘Thanks’
Saying thanks is something most of us take for granted because it’s so simple to do. Or is it? Data from recent engagements indicates that …
1) just because it is simple doesn’t mean it is done (or done well)
2) not doing it can mean a big loss in short- and long-term revenue
Whilst correlation is not causation, we have seen plenty of data showing the relationship between customer retention and customers feeling appreciated. And a poor showing of appreciation has been related to a transaction-focused business – just getting customers in and out – rather than a business focusing on providing the ingredients of a relationship.
The ingredients for Relationship Commerce are not mysterious or difficult. Speaking to customers about what they expect in terms of appreciation from a business indicates specific actions:
1) sincerity – is personalized, letting customers know you know them
2) warmth – kindness in the words, the tone, with genuine sincerity
3) follow-up – reinforcing the appreciation provided in-person with a brief message or call from the business
Business operators will all tell you they want to build and nurture relationships with customers. Watching how a business’s people show their appreciation to customers provides a strong understanding of the depth of that businesses’ customer focus—and perhaps even long-term profitability.
Thank you 😉 for reading!
Stop the Madness!
Dealerships spend thousands monthly to gain shopper attention. Yet, data from recent ROAR lead and shopper surveys tells us more than 85% of dealership money to drive potential business is being wasted by poor process, bad experiences and just overall lack of attention to what shoppers want.
Insights from the ROAR lead and shopper surveys indicates stopping the madness of wasted marketing money begins with knowing what shoppers want in their contact with the dealership—whether it be via e-mail, or phone, even on walking in.
Some of the key elements to ensure shopper response engagement include …
Timing – responding to shoppers fast lets them know you are interested in them and their business, with data indicating a response within an hour of receiving the request is 3X more effective at closing a sales than responses over an hour later
Personalized – fast responses, with a personalized message focused exactly on the specific customer’s needs (rather than with a generic response) lets shoppers know they matter to you
Value-add – instead of merely confirming the product availability with an e-mail, shoppers love additional information on the product of interest, including photos of features, or even better, is a narrated video to bring the product to life and show the dealership really cares
While nothing guarantees a shopper becomes a buyer, ROAR data indicates these actions greatly increase sales probability.
Contact ROAR to find out how we can help you stop the madness and increase your Lead and Shopper ROI with our Experience Intelligence.