For heavy equipment dealers, finding your next customer is not as easy as it used to be. Marketing tactics are simply not cutting it. What makes matters worse, the data from your current install base provides no visibility into your customers due to outdated, dirty data. As a result, you don’t even know what your ideal customer looks like.
“Hello, may I speak to…”
Acquiring new customers is critical for businesses that want to scale. But imagine calling a potential customer and addressing them by the wrong name due to dirty data. What your salesforce needs is readily available data, at their fingertips, that gives a snapshot view of key information for potential customers, as well as current clients.
Customer Loyalty is Equally (if not more) Important as Pursuing New Customers
Retaining customers is key for steady revenue growth. We’ve all heard the
- Acquiring a new customer can cost five times more than retaining an existing customer.
- Increasing customer retention by 5% can increase profits from 25-95%.
- The success rate of selling to a customer you already have is 60-70%, while the success rate of selling to a new customer is 5-20%.
With repeat customers, it’s even more critical that your data is clean. For example, with dirty data, you may call a repeat customer who is part of your Customer Loyalty Program to sell them a new vehicle, to be irately informed that they’ve just purchased a new vehicle. Why didn’t you know this? Disparate, out of data systems with conflicting information.
The result of bad customer data is an unhappy customer, or even a lost customer. When data is spread across sales spreadsheets, non-integrated systems and other applications, there is no way to know which data is most current, accurate and reliable. Abandonment figures rise as customers find other dealerships that don’t waste their time.
Software Solutions for Heavy Equipment and Truck Dealers
- End-to-end, full-service solution designed specifically for Heavy Equipment and Truck Dealers
- Reports on all your business data from a single common data repository
- Delivers a 360-degree view of your prospects and customers across each area of your business, such as:
Running a growing business means you face many unique and distinct challenges. But there are also some serious competitive advantages. Learn more by downloading our whitepaper:
You can also get the full picture by checking out this