How to Use Personalization to Nurture Vehicle Interest into Full-Blown Purchase Intent

16.12.20 07:35 PM By Gina

Optimize the path to purchase and influence the sale. 

Personalization is the future of marketing. 


Yep. We said it. 


If we've learned anything as marketers over the last year, it’s that the days of bland, generic, and self-serving messaging are officially over. That personalization is now essential for communicating across the customer journey, influencing brand awareness, brand loyalty, and lead generation.


Consumers have started to expect personalized communication. Netflix, Amazon, Spotify, and many other companies offer ads, playlists, and suggestions that are personalized to each individual preferences and behaviors. One great example is how Spotify recently released their “2020 Wrapped” playlists; personalized playlists and information based off their customers' last year of listening! 

According to Accenture, 91% of consumers say they are more likely to shop with brands that provide offers and recommendations that are relevant to them. 

People want to feel like they are more than just a number.

According to the 2016 Car Buyer Journey from Autotrader and Kelly Blue Book, car buyers spend 59% of their time online. When they first beginning to shop for a vehicle, 6 out of 10 of them are open to considering different vehicle options. Not only that, but the majority are likely to purchase a make and model completely different than the one to which they submit an online lead. Knowing this, it is important to personalize your communication with them. This sets your dealership apart and gives them one more reason to choose your store over another when making their final decision.

Customer Lifecycle

From the beginning of the customer lifecycle and continued throughout their entire journey, personalization is a powerful way to target customers, improve retention, and gain new loyalty. As a customer shops and stops and as their interest and purchase intent begins to zig and zag, the way a dealership communicates with them should change as well. You wouldn't communicate with a prospective buyer in the same way you would with a recent car buyer or someone that has a lease ending, for instance. 

Purchase Intent

To nurture interest into full-blown purchase intent, it is crucial to send out timely communications to the potential customer. With 3 Birds’ Lead Accelerator, there is a 73% increase in lead conversion rate for new leads that engage with our messaging streams. Prospects continuously receive relevant updates and new arrivals even as make and model, and new vs. used interest evolves; dynamic and personalized messaging that continues long after salespeople have stopped calling, helping your dealership to capture each and every untapped opportunity, close more leads, and close them faster. 

Retention

You successfully landed the prospect, now what? Customer retention is just as important - if not more crucial, especially in today's market. While valuable, this means doing more than just standard service and birthday coupons within a single year after purchase. Help customers stay excited about their vehicle throughout the honeymoon stage, share interesting content and usable information chock-full of feature highlights and tips that position your dealership as the authority and trusted partners in the ongoing care of your buyers’ vehicle and safety of their family. 

In the automotive industry, a large source of revenue is the service department. The importance of transitioning sold customers to service is essential. With our Retention Accelerator, there is a 23% increase in sold customers returning to the dealership for service within 60 days after vehicle purchase. Solidify new owners’ connection to your dealership brand with the value propositions that promote the clear advantages of servicing with your dealership.

According to Bain and Company, a 5% increase in customer retention correlates with at least a 25% increase in profit. 

Connect with customers immediately after purchase...and keep them for a lifetime. 

Equity

Personalization can be used all the way through the lifecycle from intent to purchase to service to going all the back around and purchasing a new vehicle. If you know a customer is in a positive equity position, you can send timely communications with incentives to persuade a sale, trade, or service. Our Equity Accelerator, increases engaged interactions up to 27% with our personalized communications. This communication is delivered monthly and can be combined with relevant sales and service messaging to establish a consistent and trusted relationship with customers. A loyal customer is more likely to refer friends to your dealership. According to the Journal of Marketing, referred customers have a 16% higher lifetime value.

3 Birds Marketing

All of our products use personalized experiences and combine together to help your dealership increase sales, retention, equity, and more! All of our products use customer-specific data to create personalized communications and campaigns. Let us help you personalize your marketing strategy to increase customer loyalty and revenues. We can help you nurture interest into purchase. 



Submitted by:

Destiny Chafin

Staff Writer