Jun
24
By Mike Gorun  //  Be the First to Comment

Would You Like White or Red Wine With Your Oil Change?

Red and white wine pouring on wood background

If you were to ask today’s consumers if they’d like to hang out at a car dealership, chances are that the majority would respond “no.” When consumers do visit a dealership to purchase a vehicle or get their vehicle serviced, many times the process can be longer than desired and is not always a great experience for the consumer. Dealerships have been attempting to streamline the sales and service process through the use of technology to make the entire process faster andmore efficient so as […]

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Jun
17
By Mike Gorun  //  Be the First to Comment

Do You Know What Your Churn Rate Is? You Should.

Customers Coming and Going

“When Coca-Cola changed their secret formula in 1983, loyalists were outraged. Coca-Cola received 1,500 calls per day and more than 400,000 angry calls and letters. A psychiatrist Coke hired to listen in on calls told executives that customers sounded as if they were discussing the death of a loved one.” [Fox Business] Wouldn’t it be something to have customers so loyal that they became upset about a change your company made? Perhaps a customer can be too loyal and then it becomes a double-edged sword, […]

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Jun
9
By Mike Gorun  //  Be the First to Comment

Discounts: They Work But Can Do More Harm than Good

Operation with the U.S. currency - cashing, exchange, purchase and sale.

It’s no secret that dealerships have been in a crazy race to the bottom in terms of profit per vehicle. Consumers are always looking for the best deal and automotive Internet resources are providing them with more ammo to negotiate with. Dealers have been complaining for years about decreasing profit margins on vehicles, blaming manufacturers for lowering margins and third-party sites for information sharing. Yet many still offer discounts in a never-ending effort to move more metal. According to an article by Internet site, Bitmatica, […]

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May
20
By Mike Gorun  //  Be the First to Comment

Dealer Currency Helps Grow Gross Revenue on Every Sale While Retaining Customers

I recently had the pleasure to work with a very innovative dealer who implemented the concept of “dealer currency” in his dealership with great success. Dealer currency allows you to eliminate cash discounts on sales (in both Variable & Fixed Ops) by instead issuing a form of “dealer dollars,” redeemable anywhere in the dealership for the future purchase of parts, service, accessories, or towards a future vehicle purchase.  This creates a true “win-win.” It satisfies the customer — as they feel they have received the value […]

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Mar
26
By Mike Gorun  //  Be the First to Comment

Retention, Loyalty or Acquisition Marketing?

Business man looking at wall with a bright question mark

We all want new customers. And it’s certainly mandatory to retain a customer to create a loyal one. But how we market our dealerships is increasingly important — as each form of marketing will deliver different results. The three terms: loyalty, retention and acquisition marketing, all have their own distinct meanings and should be used to satisfy different goals and objectives. While they are often not distinguished differently within most dealerships, they truly have different meanings, and will generate different results. According to the experts […]

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