Chances are, you have a website or CRM database that captures and stores customer email addresses for your dealership. You may also have a newsletter solution that collects subscriber email addresses. But, beyond working the initial lead or collecting a new email subscriber, what are you doing with your email database?
If you answer “nothing,” then you are leaving money on the table.
Consider leads you’ve collected at consumer shows; for example, a recent snowmobile show. If you collected thirty leads and sold three units right after the show, you grossed about $2,700 in profit margin*. Not bad, but what happens to the rest? Industry data tells us snowmobiling enthusiasts buy a new or used unit every 3 years. That means of those 27 prospects who initially said no, nine figure to say “yes” at some point this year. With milder weather patterns this winter, you can’t afford to let those leads remain inactive and risk losing $8,100 more in potential gross profit. You need to stay in touch with those sales prospects so your dealership is top of mind when they are ready to say yes.
How do you do that? This is where your email database comes into play.
By utilizing the features of your CRM or newsletter solution, you can stay in front of your customers through regularly scheduled email blasts. And depending on how much information your sales team collects from prospects and customers, you have the opportunity to increase the mileage of your email list by delivering relevant content to your customers based on their interests.
Create email campaigns targeting your database of snowmobile leads and previous buyers. Send them alerts for end-of-season sales or a newsletter highlighting 2017 new model features after you attend an upcoming OEM reveal. Follow up with an invitation to check out the new sleds in person when they arrive at your dealership. Keep these customers engaged.
Take this marketing strategy one step further by identifying other market segments. It may be easier to send generic blasts to your entire list, but you’ll find the method less effective than delivering targeted content. With the volume of emails consumers receive on a daily basis, your emails have a better chance of being opened, read and acted upon if you are serving up content to an interested audience.
Beyond increasing lead potential, use targeted emails to extend the life of a sale: Invite new owners back to the dealership with special offers on apparel and accessories; send routine service reminders; or engage female riders — one of the fastest growing powersports segments — by sharing upcoming women-rider’s events or service seminars. The potential is endless.
Try it out and see what works. Monitor the success of your email campaigns by reviewing performance. It’s important to establish baselines for performance so you can continue to improve the effectiveness of your marketing campaigns. Your email solution or CRM will provide you with analytics to help you determine if your emails reached (bounce rates) and engaged (opens and click-through rates) your audience or possibly annoyed them (unsubscribes). As you plan out dealership events this year, look for targeted email opportunities that will convert your database of email addresses into increased revenue and sales.
*Profit margin made off the sale of units is calculated on a 9 percent profit margin, which is consistent with data provided to DX1 by powersports dealerships. Profit margins can differ by dealership.
Originally posted on PowersportsBusiness.com