Customer Satisfaction can Cultivate Long Term Customers for Buy Here Pay Here Car Lot Financing
I often ask myself what separates a truly successful used auto business from one that fails. The used car lot industry is highly competitive and customers have many places to buy a car. In this kind of marketplace Customer Satisfaction is going to be key to the success of your business. Let’s face it; the used car lot industry does not have a great reputation for customer satisfaction, particularly when buy here pay here car lots are concerned. Good customer satisfaction can provide a used car business with a competitive advantage by making it stand out in the minds of customers and encourage repeat business. This will provide many benefits to your business. Here are a few more specifics about Customer Satisfaction and the impact it might have on your business.
First the good news: When someone has a great experience purchasing an automobile they will tell others. This kind of “word of mouth advertising” is a powerful and inexpensive. You can’t buy advertising like this and the return on your investment will pay off in droves. If one customer goes around telling friends and family “I went to this great buy here pay here car lot” you are sure to get referrals.
Now the bad news: The opposite is true also. When someone has a bad experience, they’ll go out of their way to warn friends and family to stay away from your business. You will need to spend a bundle to convince customers to buy a car from your lot. One dissatisfied customer can cost you many new customers.
Creating good customer satisfaction just makes good business sense. Improving your customer satisfaction can create loyal customers and should be an ongoing process for your car lot business. Here are a few tips and approaches we would suggest to get you started.
Make it easy to do business. When a new customer walks into your car lot what’s their first impression ? Is the salesmen knowledgeable ? Does he know what’s on the lot ? Can you quickly provide buy here pay here financing numbers or are your salesmen always having to sort through scraps of paper and bang out “estimates” on calculators ? The first impression can often make or break a deal. You want to look organized rather than looking like you make things up as you go along. Used car lot software can put critical information in front of your salesmen who need accurate information fast. Our used car lot software has a “quick quote” function that will let salesmen see current inventory and figure out customer payments.
Ongoing service is also important. We also provide a buy here pay here payment and coupon books, track and accept payments as well as create payment reminders for late payments. We even accept partial, early and late payments without hassles.
Listen to your customers. This is an old adage but still true. Don’t take criticism personally, look at feedback as an opportunity to improve your business operations and gain insight that your competitors may be ignoring. Track customer satisfaction over time. Call customers after the sale and ask them how their experience was. When you see multiple customers providing the same feedback chances are it may be a bigger issue than you realized and worth addressing.
Listen to your salesmen. Salesmen talk to customer on a daily basis. Weather is buy here pay here financing issues or answering basic questions ask your salesmen how customers perceive your car lot and don’t be afraid to make changes based on indirect customer feedback.
We are only scratching the surface of the benefits of good customer satisfaction in the used car lot business. We hope you realize the importance of a good first impression, accurate information and tracking customer satisfaction. By making continuous improvements you can build customer loyalty, gain repeat customers and improve your bottom line.
Please consider trying BitBeater used car lot software to allow your staff to create great customer satisfaction and increase your bottom line. Our software is easy to use, reasonably priced and multi-user ready so everybody can use it for 1 low price. We suggest you try our free used car lot software demo.