You know how service visits affect service retention, but do you know how service visits relate to the customer buying process? According to a recent study conducted by AutoLoop, we discovered that the peak repurchase rate occurs between the fourth and eighth service visit. This valuable insight gives you an edge in your marketing strategy: increase engagement and revenue by sending your service customers sales communications at precisely the right time. Learn how below.
The Facts: How Service Visits Relate to Repurchase
We analyzed thousands of deals across a large sample of dealerships and found that repurchase rates are highest between the fourth and eighth service visit; rates begin to drop after more visits (likely meaning that customers are keeping their vehicles long-term). Luxury brands are even more likely to purchase during peak intervals, and sooner too – the repurchase rates begin closer to the third service visit.
Maximize Your Marketing: Here’s How
With this insight, you can make the most of your sales marketing efforts to engage customers at the ideal time in the buying process. Target your service customers based on the number of service visits. And stay top-of-mind by sending sales promotions with your current incentives, personalized offers based on your customer data, and more. Ensure your customers are informed of your best deals while they’re considering repurchasing – and encourage more of them to visit your showroom at their next service appointment.
Author: Doug Van Sach
Doug Van Sach – Vice President of Analytics & Data Services
At AutoLoop, Doug uses crucial customer analytics and insights to improve and drive digital and multi-channel acquisition, retention and loyalty programs across leading OEMs and dealer groups. Previously, as VP of strategy at DME Automotive and VP of Analytics at 3Birds Marketing, he developed innovative marketing programs for automotive dealers and aftermarket providers. Prior to that, he established the customer insights and online marketing functions at Dick’s Sporting Goods and provided performance improvement consulting to Fortune 500 companies at Ernst & Young Management Consulting. Doug earned his BS from Miami University in Ohio and his MBA from Indiana University.