Data That Delivers
When I ask F&I folks how they can make more effective use of their dealership’s database, I usually get blank stares, followed by “That is the IT department.” So let’s get down to “IT,” shall we?
Internet Technology (IT) is not meant to be the dealership’s black hole. Today’s IT offers businesses access to faster and more direct ways to find and stay in touch with customers, and help build repeat and referral business. The F&I department is a logical place for gathering and processing information about customers. Here are a half-dozen ways for the F&I department to use the dealership’s database:
1. Obtaining permission to communicate with your customers by email should be part of every deal. Asking for the customer’s email address is one habit you don’t want to break. Email helps to minimize expenses while you maximize your revenues.
2. Use the mail merge feature and PDF files to follow up on lost service contract opportunities. Recently I saw a sample letter addressed to “Dear Valued Customer.” Now what are the chances that letter will be read? Seems to me that if you truly value a customer, you know his or her name and use it to personalize correspondence you send to them. (What do you do with your Dear Valued Customer mail?)
3. Utilize the read-receipt feature on email so that you will know when your email is opened and will be able to schedule a follow up telephone call three to five days after the email has been read. Make it easy to say yes.
4. Monthly service specials can be sent to your customer base via the Web. Remember to include coupons.
5. Access to accessories. Countless vehicles on the road sport special wheels. These wheels must be purchased from someone…Do your customers know that someone is you?
6. Make one of the emails just for fun. Send a newsletter about what is happening around the dealership–educational and professional milestones employees have attained, community activities that the dealership sponsors, or new equipment in the shop that will help the dealership better serve customers. People like doing business with people they know about and your periodic news can increase your customers’ comfort level with you.
Finally, remember that customers relocate and change their email accounts. The way to make your customer data work for you is to ask before you blast (get permission to email), limit your use of it (no more than one email per month from each department in the dealership), and keep the data clean (up to date). That’s IT!
Dealer Marketing Magazine, August 2006