Each year over 20 million vehicle purchasers leave the dealership without buying protection products from F&I. This lost revenue adds up to hundreds of thousands of dollars and egatively impacts Customer Satisfaction and Customer Retention. Drive America gets this business back with our Maximum Customer Retention (MCR) program!
Initial dealership data extraction is performed
• MCR retrieves dealership DMS data allowing the discovery of missed opportunities
– F&I and Service
– Going back 18 months
– Vehicles with mileage between 10K and 140K
– Customers who have already purchased products are eliminated from marketing campaigns
• Sales and/or service events are pulled from DMS and marketing opportunities are set up
• Data is normalized
– Filtered through the National Change of Address registry
– Other rigorous demographic modeling
• A typical VSC campaign data-pull yields 4,000 records per 100 vehicles retailed per month.
THE MCR THREE PHASE PROCESS
The approach is designed to market to a dealership’s customers at three different times and in three different ways after a recent service
visit or vehicle sale where no VSC was purchased.
1. Email designed to maximize lead generation
2. Outbound Telemarketing
3. Direct Mail Campaign
Immediately after an event, an email goes out to the customer thanking them for their recent service/purchase. The email invites them to
either call or sends them to a landing page to start the quoting process if they are interested in a VSC.
• MCR monitors metrics including delivery, open, spam and unsubscribe requests
• MCR sales reps receive inbound calls from the customers
• MCR bears the cost of marketing
Within one week from the service visit or the vehicle purchase, a follow up phone call is made to review the service or purchase and additionally
offering a VSC quote.
DIRECT MAIL CAMPAIGN
At no cost to the dealer, 6 months from vehicle purchase, a dealership-branded mail campaign is generated and sent.
• Typical consumer response is 3.5% to 4%
• 12% to 15% of respondents will purchase a VSC
• Roughly 17 to 35 contracts per drop will be purchased
• Each time a contract is purchased, the dealer receives commission
• Contracts are financed internally
– Check by Phone, ACH and Credit Card Auto Debit
• Customer payment controlled by EFS
• All collections performed by EFS
• EFS proactively keeps the contract on the books
MISSED OPPORTUNITIES AND LOYALTY
• Typical missed opportunity customer has not been back to your dealership in over seven months since the VSC sale
• On average, 85% of customers will return to the dealership to have repairs made on their vehicle after purchasing products
through the program