The Renewal/Portfolio Manager Workshop
Who Should Attend:
Renewal/Portfolio Managers, BDC Specialists, Sales Managers, General Sales Managers
Companies can boost profits by almost 100% by retaining just 5% more of their current customers.
Many dealerships spend thousands of dollars annually in creative marketing (digital, radio, TV, print, community, etc.) to attract new customers. In the struggle to attract new customers, dealerships often lose sight of their biggest, blue chip investment; their current customers. This workshop:
- Explores the various methods and contacts (messaging) of staying in touch with your current customers throughout their ownership (lease, finance, cash) experience.
- Introduces the concept of “trade-cycle management”; dealership initiatives, strategies and tools that shorten (or compress) customer trade cycles and have them buy or lease new vehicles more frequently.
Is your dealership treating your current customers as one of the most valuable assets of your compa-ny? Are you staying in touch and are your contacts meaningful for your customers? Are you nurtur-ing and growing this asset? Just as you might hire a Portfolio Manager to manage (and grow) your personal wealth, do you have a Portfolio Manager to manage (and grow) your dealership’s wealth?
- The concept of Customer Renewal/Portfolio Management
- The job description and daily/weekly/monthly activities of the Renewal/Portfolio Manager
- How to get started (accessing, cleansing and collating your customer database and establishing tracking/measurement/management criteria)
- When the renewal process should begin
- WHEN (recommended frequency) to contact lease, finance and cash customers during the term
- HOW to contact lease, finance and cash customers during the term (telephone calls, texts, e-mails, direct mail and digital)
- Telephone, text and e-mail wordtrack templates
- How to implement and manage an ‘Organic Lease Exchange Program’
- How to implement and manage ‘Pull-Ahead’ programs
- Strategies to ensure and maximize lease renewal appointments
- How to stage an effective lease renewal appointment
- Preparing for difficult lease and finance renewal scenarios
- Strategies to maximize lease and finance renewals
- Closing the renewal appointment