We already know that competition is fierce in most every business sector. This drives smart business owners to add to their competitiveness in the market place. Successful businesses have created strategies to shield their current customers from their rivals.
For example, the Apple brand that has earned the trust of their customers and turned them into raving repeat customers. They offer more than a good product, they offer cool products! Their competitors offer comparable products at much lower price points, but in the eyes of Apple fans… they are not cool! Apple has created thick walls surrounding each of their fans – walls that are nearly impossible for their rivals to penetrate.
Kiamarie is recently promoted sales manager of a Honda car dealership in Memphis, Tennessee. As a salesperson, she’s consistently been at or near the top of the sales team for over 10 years and has built a large repeat business from her client list.
Now that she’s in the position of sales manager, the owner of the dealership has given her a goal to increase year-over-year sales by 20 percent. Kiamarie intends to roll out a new strategy which is similar to the one she used when she was a salesperson.
Research by the Honda Dealership Network (HDN) indicates that most new car buyers trade-in and/or buy a new car every 3-4 years. Based on this statistic, the owner wants Kiamarie to create a Customer Relationship Management (CRM) plan and asked her to present it him at the end of the month.
What engineered strategies might Kiamarie use to capture repeat sales from the past customers of the dealership?
What CRM strategies do you think are most effective? Which should be avoided?
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