How CRM Finance helps in improving relation with Customer

Managing Contacts With Prospective Customers

Not everyone who walks into your BHPH or LHPH dealership is ready or able to buy that day. Depending on the level of competition in your market, these prospective customers may be looking to shop at other possible sources of a vehicle, they may not have the down payment needed at that time or they may not see a vehicle that meets their needs on their first visit.

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Typically, most dealerships have depended on their salespeople logging these potential customers on the dealership’s traffic log and follow up with telephone calls or letters. There are two possible places where this process can break down. First, salespeople may not log every prospect on the traffic log, and management may not have the time to monitor and make sure every prospect is logged. Secondly, without a well-organized follow-up program, salespeople may or may not be making contact with these prospects and using the methods that have proven most effective.

A CRM Finance not only gives you the ability to maintain, track and analyze the methods used to follow-up with these prospects; a good CRM Service can also save time by scheduling follow-up for each prospect by salesperson and automatically printing any correspondence that needs to be sent that day. It provides a means for a manager to monitor the activities of his staff in maintaining contact with prospects until they are no longer prospects.

Managing contacts with prospects seems to get most of the emphasis in franchise and retail sales dealerships. Contact with people once they have made a purchase is secondary. These dealers still ask their salespeople to follow up with customers who purchase a vehicle to ensure customer satisfaction and try to build repeat business, but working prospects to produce sales is the main purpose for their use of CRM Finance.

DCF is far more about collecting the payments that are owed you and less about making an initial sale. It is a proven fact that the better a dealership’s relationship with a customer is, the more likely the dealer will be able to collect the payments on that account with minimal difficulty.

The right CRM Finance software can be an invaluable tool in helping you develop that relationship. It can provide a framework of regularly-scheduled contacts to maintain that connection and it can automate many of those contacts. It can remind you of birthdays, purchase and wedding anniversaries, and other scheduled activities. Creating an organized system of contacts adds value to the relationship and builds rapport with you customer, making collections easier and reducing delinquency and charge-offs.

After your customers have paid off their accounts, they become prospects all over again. Your CRM Finance can help you maintain contact with your previous customers until they are ready to buy again. Regular contact that keeps your dealership name fresh in the customer’s mind will increase repeat and referral business.

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