COMMERCIAL PLAYBOOK
COMMERCIAL PLAYBOOK - CHAPTER 1
MOBILITY BY THE NUMBERS:
IDENTIFYING DEALER OPPORTUNITY
OPPORTUNITIES
A review of sales data from 2022 reveals many commercial dealers continue to make significant profits despite persistent inventory challenges. However, with so many factors in play, such as rising interest rates, high gas prices, EV stimulus credits, and the potential recession looming, it’s also critical to an independent commercial dealer’s future success to formulate plans and recognize that the winds of change are blowing.
That means that savvy independent commercial dealers are looking ahead and seeking out new revenue opportunities. Some of these opportunities may include additional inventory types or customer types to whom they can sell, or ways to bolster the markets they already serve. Local and regional business customers are one avenue to aid with continued growth because they offer so many different revenue streams.
Commercial vehicles are used by industries large and small, supporting approximately 80% of the GDP.
Commercial/fleet sales are a profit multiplier for your bottom line. However, commercial business differs from the retail business in many positive ways. Consider these impact points:
Upfit vehicles [those customized with specific configurations needed for different businesses, such as a plumber’s truck or a refrigerated van] traditionally sell at much higher prices than retail vehicles
Business shoppers differ from retail shoppers in an important way - they aren’t looking for a vehicle simply because they want one. Rather, they are looking to purchase a vehicle for their business because they need it; their livelihood depends on it . As a result, when you prove your ability to help them, the likelihood of gaining a loyal customer is significant (commercial customers are up to 5X more loyal than a non-business buyer).
Those same business customers also have personal vehicles, along with employees, family, and friends with vehicle needs. As you can see, the odds for ancillary sales are in your favor.
There are many additional revenue streams - and that list is growing - for your dealership when you’re part of the commercial vehicle space. For example, small businesses typically don’t have their own fleet servicing team, which means your service department can fill this role, which contributes mightily to your profits. Additionally, independent commercial dealers can look at expansion into the EV market and autonomous vehicles, along with mobility and telematic solutions.
And when considering these additional revenue streams, it’s important to note that OEMs are also developing ways to help their franchised commercial dealers grow revenue opportunities in the commercial vehicle market. Independent commercial dealers should consider emulating what OEM’s are doing for their commercial dealerships so that they can take advantage of growing with these additional revenue streams as well. Current areas with new product and service offerings include:
Service: specialty maintenance and mobile service.
Software: telematics/vehicle insights, safety and security.
Finance: commercial lines of credit, lease programs and repair/fuel cost controls.
Charging: depots and home-based.
The key takeaway? If you aren’t in the commercial space today, you should dive deeper and look at the possibilities. And if you are already selling to businesses, when was the last time you reviewed your strategic plan to ensure you were capturing all the market share and business available?
As the saying goes, “Hope is not a strategy.” Instead, researching data points and incorporating those into your plan is the way to
go. [And, as you read on in this and subsequent chapters, you’ll see we offer numerous data points, as well as recommendations for where to find information to assist you.] Not only does data show historical performance, it helps you establish a baseline, from which you can launch your plan for growth. And don’t forget to factor in industry specific experience (both your own and that of trusted advisors), as well as specifics related to your particular market.
We’ve seen numerous dealership customers with commercial department performance outpacing retail sales results.
UNIQUE INSIGHTS
As the only company that collects the data that offers national visibility into commercial vehicles, especially those customized after the chassis or van is manufactured by an OEM, Work Truck Solutions® (WTS) has a unique insight into industry growth, business trends and evolving opportunities, all of which affect a dealer’s profitable sales of these vehicles. With more than 10 years specifically dedicated to providing solutions for the commercial vehicle industry, our history and data enable us to track industry growth, trends and evolving opportunities. These metrics and knowledge enable Work Truck Solutions® to offer insights that impact an independent commercial dealership’s success.
Even though commercial vehicle (CV) inventory numbers through the first three quarters of 2022 mirrored much of the overall automotive vehicle industry, we’ve tracked some revealing trends.
Average prices for new commercial vehicles have remained relatively steady through Q3 of 2022, showing only a 0.2% increase from Q2 and a 1.5% increase YoY. However, they are still much higher than pre-pandemic levels; over 20% higher with an average price of $51,573. A proliferation of final-mile delivery service businesses have however caused prices for certain new commercial vehicle segments to spike dramatically. For example, the average price for upfitted cargo vans showed a 5.6% increase compared to this same time in 2021. This means that those commercial dealerships who are poised to capitalize on these metrics can look to acquire these upfitted cargo vans and can grow their commercial base, and their bottom line.
Despite economic fears, commercial demand is expected to continue. For example, even when new housing starts slow down, people still need home repairs completed, which means the businesses/trades that deliver these services need work trucks and vans to complete the job.
VEHICLE SEARCHES
Change in Body Type Searches Q3 2021 to Q3 2022
When looking at search trends, the numbers confirm that the final-mile business is impacting the entire commercial vehicle industry, and the overall statistics support rapid growth. Empty cargo vans and upfitted cargo vans held two of the top four spots when comparing search metrics from Q3 2021 to Q3 2022. And when looking at the top 10 changes in body type searches, we see other commercial vehicles that can also be used in last mile deliveries showing increased activity.
As customers became more and more accustomed to ordering online during the pandemic - from household goods to groceries - the need for final-mile delivery vehicles grew. And, coming out of the pandemic, this trend shows no signs of stopping. This means those commercial dealers who can source used final-mile delivery vehicles for their B2B shoppers are the ones who will win the business.
On demand is the norm. For example, I was ordering some stuff on Amazon and the message at checkout said ‘If you click this button in the next 53 minutes, this shipment will be at your door between 7 and 10am’. This is incredible for me, but a nightmare for a company.
Gregory Skinner, VP of Strategic Insights, Escalent
INVENTORY CHALLENGES
Although persistent manufacturing obstacles have continued to restrain new commercial vehicle inventory per dealer, there was an uptick in inventory of almost four more vehicles per dealer in Q3 2022 compared to the previous quarter. The good news here is that this builds on the increase of two vehicles per dealer in Q2, which indicates inventory levels are improving. This is also a positive sign for independent commercial dealers being able to potentially acquire even more used commercial inventory in the near future.
As for used work trucks and vans, Work Truck Solutions’ dealers saw inventory improvements in many truck and van segments. For example, Used Cutaway Vans have been on an upward trend over the last three quarters, rising by 36% during the timeframe; Empty Cargo Vans are above where they were at the end of last year, up more than 37%; and used pickups have stayed well above their Q1 2022 levels, increasing by almost 15%.
Used Commercial Market $160B
It’s important to ensure commercial customers can find the vehicles they need during the supply chain difficulties for new inventory. This means consumers, who normally may purchase new, have had to rely on finding used commercial vehicles. As a result, the opportunity for independent commercial dealerships to capture new clients has been on the rise.
You know customers look online for the work trucks and vans they need. But what happens when they’re searching for new commercial vehicles no one has in stock? If you’re like most dealers, these shoppers see a page that says something like, “Sorry, we don’t have what you’re looking for today.”
And what about those who can’t wait for a work truck or van - the ones who need it ASAP? The needs of these customers can be met with used inventory from an independent commercial dealership, which means you need sources for these remarketed vehicles. The challenge here is cultivating relationships with these sources - auctions, fleets, rental companies, etc. - or finding other avenues to acquire this type of inventory. But, no matter how you go about it, your business customers will thank you for it by awarding you their business.
Have a strategy that supports offering “bridge vehicles” to your B2B buyers. A “bridge vehicle” is one that, although it may not check every box for a commercial buyer, it does meet/exceed their minimum requirements and it enables them to continue to stay in business.
MARKET SPECIFICS
Each dealer’s market offers unique opportunities; like the gold rush, the first to find and stake a claim will profit the most. For example, the snow removal business, which is applicable only in specific markets, has significant dollar figures associated with it. Per IBISWorld market data, the snowplowing services industry had a 2022 U.S. market size of $20.8B as measured by revenue. Additionally, it showed a 4.3% annual growth rate between 2017 and 2022.
Or, another specific but also growing market, is the cannabis industry. With more than 35 states legalizing cannabis, the demand for ‘secure transport’ vehicles is strong, and also expected to grow. According to Grand View Research, the cannabis market size was valued at $10.8B in 2021, and is expected to expand at a staggering compound annual growth rate of 14.9% from 2022 to 2030. With very specific requirements for these secure transport vehicles based on the laws in place, finding vehicles that meet their needs is essential for businesses in this industry.
No matter the specific commercial enterprise, the bottom line is this: dealers who can assist businesses in meeting vehicle demand in industries specific to their market are the ones who will capitalize on these opportunities. As such, it’s important to do your research and get to know your commercial vehicle market. There are many avenues for this type of research, including (obviously) the internet, but don’t discount additional sources, such as local/regional trade associations, expos, data research firms and state associations. All of these can help you understand the nuances of your commercial opportunity.
Photo: Driverge, 2023
WHERE DO YOU GO FROM HERE?
Coming out of the Covid pandemic, there are many trends that will remain part of our business and consumer landscape. One such example are mobile maintenance services that saw a boom over the last couple years. This type of mobile maintenance includes services provided to car owners at their residence, and also to company fleets out in the field, offering everything from oil changes and tune ups, to tire changes and fueling, to brake jobs and no-starts. The one thing all of these mobile services have in common? The vehicles needed to provide these services are very specialized, which means the ability for these growing mobile service providers to locate and purchase these vehicles is critical to their success. It also means the dealerships who can help the mobile service providers have significant opportunities.
From contract maintenance to insurance, the products and services commercial dealers can offer their customers continue to grow. It is important to note, once again, that the independent commercial dealers should consider emulating what OEM’s are doing for their new commercial dealerships so that they can take advantage of growing with these additional revenue streams.
And the best way to turn these opportunities into reality? Build a strategic plan that incorporates data, along with finding partners who can help you navigate the road to commercial success.
Work Truck Solutions is ready to help you along your commercial vehicle path, no matter if you’re just starting out or if you’ve been in this business for many years. We have the knowledge, tools and data to help you succeed. Let us know when you’re ready.
Let’s Talk: (855) 265-9996 Email Us: info@worktrucksolutions.com
INDEPENDENT DEALERS
COMMERCIAL PLAYBOOK
CHAPTER 2
THE NEW [COMMERCIAL] WORLD SALES ENVIRONMENT
If you’ve spent any amount of time in the automotive dealership environment selling vehicles (commercial or retail), you may remember the “old days”—also known as one or two years ago. You could list vehicles on your website, wait for visitors to find them online, and subsequently come to your physical location, walk the lot to find the commercial truck or van they were looking to purchase and complete the deal. In today’s world, this is no longer the case. Rather, it’s a New World Sales Environment .
So, what’s necessary to navigate this New World? The short answer is, there is no short answer. Instead, succeeding in this new environment requires a commitment to adopting new tools, new services, and new ways of thinking, all while continuing to capitalize on proven processes and solutions.
According to Jim Press, who has over five decades in the automotive industry, including time as President/Chief Operating Officer of Toyota North America and also Co-President/ Vice Chairman of Chrysler Group, LLC, there are many forces at play impacting the automotive space. Some he cited include, “new technologies, sustainability policies, the introduction of new power trains” and several others. Additionally, he states that:
Dealers who can recognize this new era, adapt and embrace technology and a new culture and business model will be able to take the dealer system forward.
If you haven’t embraced the new world sales environment yet, the good news is it’s not too late. As the saying goes, the best time to plant a tree [or implement a plan that incorporates changes to the world in which your business operates] was years ago. The second best time is NOW
Like many businesses, automotive sales have peaks and valleys. You can enjoy the good times, but you must also plan for the dips that are sure to come. Said another way, the danger of success is complacency.
Independent dealers who aren’t complacent are looking for new revenue opportunities as a hedge against that next dip. They also realize that franchised dealers may be restricted in ways they are not. Independent dealers have more freedom in dealing with supply chain issues, an uncertain economy, and rising interest rates. Dealerships that are planning ahead, modifying processes, and seeking out and uncovering those new profit centers are the ones who will be well-positioned for the future.
As we saw in Chapter I, selling to businesses (i.e. commercial vehicles) is a great profit multiplier. If you’re already in the commercial vehicle business, you know this to be true.
commercial space today, you should dive deeper
As the saying goes, “Hope is not a strategy.” Instead, researching data points and incorporating those into your plan is the way to
Someone asked me why I’ve brought Work Truck Solutions on at multiple used commercial dealerships. The answer is easy- they bring me committed buyers and that equals gross profits!
Steve DeLuca , Sales Manager
So, if you find yourself saying, “Ok, I’m interested in assessing the B2B side of the business”, actually figuring out where to go next might seem daunting. Or maybe your situation is different and you’re already in the commercial vehicle arena, and you find yourself asking “What can I do to expand my existing commercial department and capitalize on current opportunities?” No matter which scenario best describes you and your dealership, a sound execution strategy, built on education, ideation and research, is foundational to a successful plan.
THE PLAN
When times are good, it’s easy to get complacent and forget time-proven habits and processes that result in profits; but maintaining those good habits even when times get tough is what keeps successful operators on top.
You’re the expert on your market; after all, you operate in it on a daily basis. There is a set way to look at market specifics, especially as it relates to commercial business. Let’s start with the basics and expand from there.
STEP ONE: GATHER YOUR RESOURCES
As a dealership engaged in, or planning to be engaged in, the commercial business, you should join the NTEA, the association of the Work Truck Industry. There are a number of perks to joining.
You gain access to data and various reports to keep you abreast of the industry, such as the following examples that show the continued stability of commercial vehicle demand, and trends in the industry. As a member, you’ll gain access to updated stats, data and metrics as NTEA releases new information.
If you’re a dealership just getting started in the commercial business, NTEA resources are a must. They’ll help you get a feel for the industry and the opportunities, while also introducing you to many nuances not found in the retail side of the dealership business.
Source: NTEA, OEM Quarterly Chassis Report
You should also plan on attending Work Truck Week , held in early March each year. This event not only offers attendees the largest commercial vehicle expo at which to see all the upfits and chassis offerings in one place, but it also has workshops and sessions that focus on trends and opportunities in the industry.
If you’re already selling to businesses, but you’ve stopped attending - or sending your team - to Work Truck Week, you need to revisit your approach. What better way to stay current on what’s happening in the commercial vehicle industry, hear about ideas from other top operators and talk through potential strategies? If you’re looking to grow your commercial business, you and/or your leadership team need to attend this once-per-year event. You may even attend an educational session that answers questions you have about how to grow to that next level.
There are also other events where you can spend time with commercial dealers and learn from those Dealer Principals/GMs/Commercial Managers successfully operating in the work truck and van sector. Some of these are local truck club meetings or upfitter events. After all, who better to learn from than those who are in it today?
Additionally, here’s a few other resources you should consider to gain knowledge about the commercial space:
Local trade associations - Research online and determine which ones have a strong presence in your market and then seek out opportunities to get involved, such as sponsorships, luncheons, and so forth. They also often post their members’ contact information, which can be downloaded to expand your prospect list.
Commercial Vehicle Business Summit - this virtual event is held twice per year and is fully dedicated to the commercial vehicle industry. Recent event themes included Mobility and Transformation in the work truck and van market, and had expert speakers/panelists from dealerships, OEMs, upfitters, data research firms, finance and fleet management companies. This is a no-brainer! And the next event is in May, so consider registering/attending.
Escalent market assessment - New opportunities always involve a certain amount of risk. Escalent can help expansion-focused dealerships assess markets to make datacentric market evaluations.
Upfitter websites - There are many upfitters (these are the businesses that put vocationspecific bodies onto vehicle chassis) in the commercial vehicle market, and several have websites offering great information. For example, you can read blogs to see what others are talking about, check out upfit guides to better understand unique vocational needs, and review product literature about the upfits provided.
Here are a couple different upfitter sites for consideration: Knapheide | Scelzi | Reading
STEP TWO 2
DEFINE YOUR PRIMARY MARKET AND CUSTOMER
Start with what’s obvious (what do your eyes tell you). Then back that up with data. The following list is not meant to be a comprehensive checklist, but enough to demonstrate the kinds of questions that will help you to zero in on your target.
Is your market urban, suburban or rural?
Geography. Are you located in the north where snow removal vehicles are essential in the winter? Or maybe you’re in the south where pool-cleaning outfits prevail year-round.
Final mile delivery
With a 43.5% increase in online holiday shopping from 2019 to 2021 , cargo vans used for final mile delivery have been in high demand. In fact, Work Truck Solutions’ Q3 2022 Data Report reflects the impact of lastmile delivery needs.
What does this opportunity look like in your market, including electric work van use cases?
Adoption of electric commercial vehicles
Last Mile delivery is a super tough market. For companies in this space, it is a cutthroat, brutal, and highly competitive environment. To be competitive in this space, business owners are choosing vehicles optimized to meet that need. Vehicle selection is about maximum optimization and efficiency because that efficiency is what creates dollars and cents.
Gregory Skinner, Vice President, Strategic Insights, Escalent
Are EVs making inroads into the commercial sector in your market? What types of topics do business owners need to consider when looking at EV adoption and how can you factor those into your approach? EV delivery vehicles are especially suited to businesses that perform last-mile deliveries within a fixed and limited radius, such as retail delivery, and e-commerce home service businesses. Even medium and heavy-duty EVs are gradually gaining popularity, so it’s a worthy investment to begin exploring what the top EV concerns are of those fleet/business owners.
TYPES OF COMMERCIAL CUSTOMERS
There are several types of commercial vehicle customers, each with specific needs and requirements. Consider the different types of customers and what factors are important for their ongoing success. By taking the time to understand the unique needs of every kind of customer, you can provide them with the customized care they need to continue doing their job with the least stress possible, while also continuing to look to you as their trusted partner.
Sole proprietors
A sole proprietor usually operates under extremely tight time and budget constraints. They juggle many hats and don’t have the luxury of exploring new strategies or technologies. By adopting a partner mentality, dealers can find ways to bridge the gap between what a customer needs and what they can manage to implement.
These sole proprietors are local businesses relying on their work trucks and vans; if their truck or van isn’t running, they’re losing money. These customers need reliable vehicles that can handle their specific business needs. By offering expert service and repair, you can help keep these businesses running smoothly.
Businesses with more than one work truck or van
Any business with more than one commercial vehicle in operation deals with many moving parts, and managing these vehicles can be time-consuming and expensive. Limited budgets can bully owners and managers into thinking only in terms of cost rather than investment, and their predicament is an opportunity for your dealership to ease their burden. Consider offering a suite of solutions like:
• Extended hours.
• Mobile services, such as oil changes, no-starts, etc.
• Keeping realistic constraints in mind, you may be able to offer some additional services.
Upon conducting your research, you’ll probably discover you have more than one target customer. Make sure to create buyer personas for each one. And you may have more than one persona for each customer type. Just remember that documenting your buyer personas will help guide your inventory, marketing, and sales strategies. Those who write down goals are much more likely to achieve them than those who don’t—so write them down.
Anything you can do to help businesses with small fleets operate more efficiently will set you apart in your market.
Independent dealerships need to review market and customer definitions continuously. You know how much the market can and does change - which means frequent re-evaluations of these conditions are essential to staying on top. And not only do you need to review your market frequently, you’ll also want to do the same with your sales operation because as the market changes, your team will also need to do so.
STEP THREE 3
UPDATE YOUR WEBSITE
A foundational place to start is with positioning your dealership as a commercial partner to businesses in your market by having a robust section of your website dedicated to commercial vehicles - both inventory and education. After all, if you don’t tell business buyers you’re the experts at providing them
Yes/No
Yes/No
Yes/No
with commercial vehicles, how will they know that you’re a good resource/partner to fulfill their work truck and van needs?
With that in mind, use this checklist of things to consider at a minimum:
Does your retail website prominently display that you sell commercial vehicles? This is critically important when business buyers come to your site.
Yes/No
Can your prospects and customers quickly search for (filter) exactly what they need, such as bodies, upfits, engine types, etc.? Remember, these buyers have specific needs for vehicles that fit their particular use case(s). If they can’t quickly and easily search, they’ll move on to another dealership/source.
Yes/No
Are your business prospects able to see the details of the unique vehicle configurations, or do they have to guess what’s on the work truck or van? If they have to guess, you’re making it much harder - as well as unlikely - for them to do business with you. When it comes to business buyers, while price is certainly important, time savings and ease of doing business are also high on their list when choosing a dealership partner.
How about photos? As with a retail site, a picture is worth a thousand words, so be sure to show shoppers lots of vehicle and body images.
Does your site offer educational information to business owners and fleet managers? For example:
Do you have content discussing EVs (or other alternative fuel vehicle options) to help make decisions on how and when to consider transitioning from ICE vehicles?
Is there content about vehicle servicing specific to businesses? Consider links or original content related to telematics.
By listing additional, non-promotional commercial content on your site, you further establish your dealership as a business partner for these commercial customers.
And what if you don’t have much on-lot inventory to display on your website? This is a problem challenging many dealerships today. Use these strategies to deal with a low inventory climate.
NATIONWIDE VEHICLE LOCATION TOOL
Find a single-platform solution that searches multiple inventory sources, including wholesale, auctions, rental companies, and other suppliers of work trucks, vans, and pickups to source remarketed vehicles for your customers. You’ll want one that provides detailed upfit information that is crucial to your prospects.
OUTBOUND MARKETING MESSAGES TO YOUR CUSTOMERS
Be the one they think of, and make sure these messages are built for mobile/tablets since these customers are always on the go. A regular cadence ensures it gets done. A haphazard strategy won’t cut it. As buying cycles are stretched by thin inventory, it’s more important than ever for you to reach out to your customers, build the relationship, and be top of mind. While it might seem counterintuitive to market to customers if you don’t have vehicles in stock, you’ll certainly want to keep those prospects thinking of you - and show them how you can help now and in the future.
Previous: Commercial Playbook - Chapter 1, Mobility By the Numbers: Identifying Dealer Opportunity
Coming Soon: Chapter 3 - Commercial-Customer Care: Partner vs. Vendor
INDEPENDENT DEALERS
COMMERCIAL PLAYBOOK - INDEPENDENT DEALERS
CHAPTER 3
COMMERCIAL CUSTOMER CARE:
PARTNER VS. VENDOR
In the Commercial Playbook Chapter 1 , we learned that adding a commercial vehicle component to your dealership business is a savvy way to aid in continued growth. In Chapter 2, we explored strategies to implement or fine-tune your commercial vehicle department. Now, let’s look at how an expanded view of commercial-customer care can build on that.
THE PLAN STEP ONE: TRANSITION YOUR MINDSET FROM VENDOR TO BUSINESS PARTNER
We can see that commercial vehicle sales represent high-profit margin transactions, so it should come as no surprise that after-sales services represent a sustainable recurring revenue stream. To leverage this new opportunity, it is crucial to transition your dealership’s mindset from being an auto vendor to being a business partner or consultant.
This transition begins with an expanded view of commercial-customer care. It means going beyond simply selling a work truck or van; dealers must develop a proper understanding of their customers and anticipate the eventualities of their business needs. These might include repair, warranties, insurance, preventative maintenance, upfitting, fleet management, and aftermarket services. Building a consultative business relationship with your customers is the key.
The bonus is that anticipating customer needs creates value for your customer—and translates to additional revenue opportunities for your dealership.
THE PLAN
STEP TWO: PROVIDE VALUE
An excellent first step in being a valuable resource for industry information is to publish a businessoriented blog. By providing helpful information and resources for business owners, independent auto dealers can establish themselves as experts in the field and build a loyal customer base. If you can write original content, that’s terrific. If not, content creation can be outsourced. Even if you don’t publish content, you can provide links on your website for tools and articles your commercial vehicle customers will find helpful in business operations.
A few examples might include
• Seasonal challenges. This could include tips on preparing their vehicles for winter usage or maintaining them during the summer. Depending on their national locale, business owners may experience annual fire, tornado, or hurricane seasons. You can be an advisor for how these eventualities may affect their vehicle status and usage.
• Local EV charging station maps. This can be invaluable for those who have jumped into the EV market. Providing maps helps your customer while also helping establish your commercial department as a leader in the commercial EV space.
• Equipment storage options. Vehicle storage could run the gamut from toolboxes to shelving to other storage compartments. The reality is work truck and van customers are experts in their business, but they likely aren’t experts in upfitting their work vehicles for efficiency. Providing links to storage options is an excellent service to your customers.
It’s all about developing a relationship of trust with your customers, who will appreciate the effort put in to educate them about issues that affect their business.
THE PLAN
STEP 3: SET UP SERVICE AND REPAIR
PROGRAMS
Unlike retail customers, downtime for business owners equals lost profits. They cannot afford to be without a vehicle or have one sitting idle waiting to be repaired. Your customers trusted you enough to buy a vehicle from you; the odds are excellent you can leverage that trust to fulfill their service and repair needs as well. Or, perhaps a business owner bought their work truck or van elsewhere, maybe even several states away - possibly due to inventory challenges. Nonetheless, they still need service work completed; and you can be sure they aren’t going several states away for that. Too many dealerships are missing out on the opportunity to expand into the repair aspect of their dealer/ customer relationships.
But don’t stop at just repair; consider expanding your role to include a consultative relationship, working with your customers to forecast maintenance, repair, and replacement needs.
Preventative maintenance (PM) is a valuable service area that can position your dealership as a partner in business. Review the specifications of the truck or van you sold to them and analyze how your customer will use it. Then explore an appropriate service schedule to avoid downtime. Shepherding your commercial customers into a consistent maintenance program constitutes a massive benefit for them.
Commercial service revenue can be as much as twice the value of retail.
Furthermore, as a vehicle’s age and mileage increase, there comes the point where it may be more cost-effective to replace the truck or van rather than continue having it repaired. Be a partner, rather than just a vendor, by bringing them information that could help them in their planning. You can add value to the relationship by evaluating the cost comparison between continued repair vs. replacement and then presenting the information in a Total Cost of Ownership context.
THE PLAN
STEP 4: VIP TREATMENT
While providing expert service and repair is the foundation for your commercial dealership’s success, you can exceed all expectations by offering your commercial customers VIP treatment.
OPTIONS MIGHT INCLUDE:
Optional vehicle warranties and insurance
Integrating vehicle warranties and insurance into your dealership’s commercial-customer care plan is a great way to increase revenue while providing peace of mind for your customers. By partnering with a reputable insurance provider, you can offer competitive rates and comprehensive coverage to protect your customers’ vehicle investments. Not only will this help build customer loyalty, but it can also lead to referrals and repeat business.
Telematics services
Telematics combines GPS tracking with vehicle diagnostics to provide data about a vehicle’s performance. For commercial customers, telematics can be a valuable tool for managing their fleet of vehicles. By offering telematics services, you can provide your customers with valuable data to run their businesses more efficiently.
Fleet management software
Fleet management software can help your customers maximize vehicle uptime, improve decision-making, and advance technician effectiveness. Researching options is a great value for your customers who may not have the time to do it themselves.
As an independent automotive dealer, you have the freedom to choose which services and brands to offer. Put your depth of knowledge and experience to work in creating extra VIP value for your customers.
THE PLAN
THE VALUE OF MONTHLY SALES GOALS VS. LIFETIME CUSTOMERS
It comes down to this: Long-term relationships represent much more in total revenue than one-time sales. And don’t forget the disproportionate cost of acquiring new customers vs. exceeding the needs of existing customers. Remember, customers have relationships with business partners and consultants, but not so much with vendors.
Creating “sticky” customers
Customer retention is about building a relationship of trust and respect that will result in customer loyalty and continued business. Nurturing that long-term relationship lets customers know you are vested in their success.
Your customers are looking for:
• Regular communication
• Proactive problem solving
• Follow up
• A personal relationship
Cultivating “consultative” salespeople
To be successful in these long-term relationships, you have to foster an environment for consultative sales professionals; you must find team members with this capacity and then support the different skill sets needed than what is typically found in a dealership. Making the commitment to being a consultative resource is what will build those long-term relationships and validate your customers’ loyalty.
CONCLUSION
Customers will remember who took care of them vs. who was looking for a quick sale. This philosophy of expanded care for your customers fosters long-term relationships and develops sustainable recurring revenue.
Don’t fall for the short-game trap because what you do today creates your tomorrow.
INDEPENDENT DEALERS
COMMERCIAL PLAYBOOK
COMMERCIAL PLAYBOOK
CHAPTER 4
TOPICS COVERED:
Types of Lenders
Heavy, Medium, and Light-Duty Differentiations and Considerations
Know Your Customer
What to Look for in a Lender
TYPES OF LENDERS: CLARIFYING THE CONFUSION
Understanding basic differences between independent, captive, and bank lenders can help dealers select the right one(s) for their needs.
Independent
A non-bank lender that can make decisions “in house” on borrowers and types of programs it wants to offer. They can finance vehicles and equipment from any manufacturer and develop individualized, flexible programs for customers.
Captive
A captive lender is the financing arm of a manufacturer. Captive lenders can typically finance only that manufacturer’s equipment. Manufacturer subsidies enable them to provide low interest rates or other incentives but can have strings attached. Examples may include financing restrictions that do not allow room for flexibility in meeting customers’ needs.
Traditional Bank Financing
Banks are not restricted to any one manufacturer and may offer relatively low rates. It also can be more difficult to get a loan approved with a bank lender because they may ask for additional documents such as business financial statements and tax returns before making their decision.
Advantages:
Flexible
Simple, streamlined approval process
Custom financing solution
High level of dealer and end-user customer service
Advantages:
OEM subsidies
Ability to adapt lending guidelines quickly for franchise OEMs
Advantages:
Low rates
Ability to finance vehicles and equipment from any manufacturer
KNOW YOUR CUSTOMER.
Ask your customer these questions to help you better understand their financial needs to determine the best financing partner:
How long have you been in business?
How many trucks do you own?
What type of trucks are you looking to finance?
Are you a first-time buyer?
Hav e you financed a truck in the past? If so, with whom?
What is your personal credit like?
Are you looking to put money down?
Typical buyer personas that emerge from using the above questions:
Hav e cash on hand for a large down payment.
Sensitive to payment amount.
TRAC lease.
Rate focused.
Poor credit, need sub-prime lending.
Consider these points as well:
Not all lenders will finance all v ehicles.
Ask prospective lenders about experience and expertise with what you sell.
FINANCING BY SEGMENT
Strong, dependable vehicles are key to your customers’ business, as are experienced and reliable financing partners. Before choosing which lender to suggest to your customers, take the time to learn about their financial needs and wants. Creating a loyal customer goes beyond matching them with the best equipment, but also guiding them towards the best financial solution for their business.
Heavy-duty/ Over the Road (OTR)
Types of Vehicles Financed. Many vendors that work with OTR vehicles exclusively focus in that area. If you sell vehicles in several segments, verify which lenders specialize in specific segments.
Source of Funds. Heavy-duty truck dealers can expect to be contacted by many lenders seeking their business. While this may signal a robust lender market, realize that many of these companies may simply be brokers. Be sure to find out if a lender has access to its own funds, or if it’s a broker.
Fleet Size. Lenders have varying appetites for fleet business, whether it’s small, medium, or large. Know your customers’ fleet sizes up front and ask if a prospective finance partner can meet those needs.
Medium Duty
Knowledge of the sector. In the medium-duty space, upfitting is common. A lender that understands the sector, the specific equipment, and the values of each type of vehicle will be able to work more quickly and accurately in providing financing.
Captive lenders typically offer subsidy programs for dealers of medium-duty (as well as light-duty) trucks. Take time to really understand the programs and their trade-offs. Captive-lending programs may sound good on the surface but determine if they meet your customers’ needs in the way of price, service, flexibility, and speed.
Tradeoff example 1:
A manufacturer offers retail assistance money and/or a subsidized interest rate, which may or may not be better than what you could receive from an independent lender.
Tradeoff example 2:
Your customer is at the high end of the LTV range your captive lender is comfortable lending against. The result could require your customer to make a down payment that another lender would not request or need. A captive lender might also require a shorter amortization period, resulting in a higher payment that may not meet your customer’s financial needs.
FINANCING BY SEGMENT
Light-Duty
Merit of “corp-only” financing. Many dealers prefer not to ask their commercial customers to guaranty the loan with a personal guaranty or co-signer. In the light-duty space, where there are many companies with good credit and payment history but are relatively young, this can be a critical consideration. Not all finance providers will do corponly financing; make sure the one you are evaluating does.
Credit assessment. Search for a lender that works with PayNet®, which provides private company credit assessments. PayNet benefits your customer by separating business finance from personal finance in terms of credit reporting. Business lending activity and debt can show up on a customer’s personal credit history versus their business credit history, thereby restricting the customer’s ability to borrow due to lack of time in business or inflated personal debt. While important across the board, some lenders in the light-duty space do not work with the service.
Loan to Value Limits. Lenders have different loan to value (LTV) limits. Your customer may have to provide more down payment to meet the lender’s LTV limit and be approved.
Customer service. For you and your customer - consider the type and amount of service you will need.
Will the lender be a ble to provide service to you over a weekend? In the evening?
Will they return calls promptly?
Are they willing to work with your customer if hardships occur?
Pre-payment penalties. Does the lender have prepayment penalties for light-duty vehicles?
Ease of application process. You may prefer to work with a lender that uses RouteOne or DealerTrack, which is a main application integration and exchange system. While these services do provide a simple way to submit applications to multiple lenders, the dealer’s finance manager should still take time to pinpoint appropriate lenders through the system that meet their customers’, and their, needs.
Risk. The size and age of the customer’s business can impact down payments and interest rates. New businesses tend to present a higher risk profile due to lack of credit history. To mitigate this risk, lenders ask for higher down payments and rates.
WHAT TO LOOK FOR IN A FINANCE PROVIDER
While interest rates are certainly part of any financing equation, they are just one part. In fact, for a dealer looking at operating and growing its business, other factors can easily surpass rates in importance. It all starts with finding the right lender. So, when evaluating lenders, keep the following overarching points in mind.
Value of a partner rather than a vendor. Partners seek a shared vision and shared success. Because they are looking for a long-term relationship, they will take time to learn about your business, your processes, and your goals. Using a consultative approach, a partner will work with you and recommend programs that work for your customers and you today, as well as in the future.
Respect for your customers. A good partner will get to know your customers and understand that they are your most important resource. They will provide exceptional service, be available when needed, and focus on the priorities you and your customers set.
Flexible programs. Tailored programs will drive more units to you, faster. Maybe it’s a special program for new or used equipment or a special on terms or rates. Development of tailored programs for your customers will ensure they get financing that works for them in the time they need it.
Speed in execution. Some finance providers, working amidst regulations and policies, can be slow to respond. A responsive partner with flexibility will have greater ability to develop customized programs quickly and efficiently, resulting in a better overall experience for everyone. For dealers, getting quick-turn credit decisions and expedited funding can be challenging. An experienced, customer-centric finance partner can make things happen fast, often even providing same-day funding.
One-stop shop. To make life easier, look for a partner that can handle as many of your needs as possible. You’ll save time, eliminate stress, and develop valuable long-term business relationships.
Technology needs. Dealers will find it pays to make a realistic assessment of their technology needs. How and in what ways will automation benefit your customers and you? What kind of customer service will you need? Will you be looking for a live person to pick up a call? Make sure to evaluate the human factor in a decision on a financing partner.
The Winning Combination
Financing can be complicated, but it doesn’t have to be. Dealers – whether working with heavy-duty, medium-duty or light-duty vehicles – will benefit by taking time up front to select a lender that can meet their customers’, and their, needs, both in the short-term and long-term. Getting a finance partner in place can not only save time and frustration, but they can also help secure and grow business over the long haul. The bottom-line is that you will need relationships with all three types of lenders to best support the dealership and your customers.
COMMERCIAL PLAYBOOK CHAPTER 5
NAVIGATING THE DIGITAL SHIFT IN COMMERCIAL VEHICLE BUYING:
MEETING THE COMMERCIAL VEHICLE BUYER WHERE THEY SPEND THEIR TIME
In today’s rapidly evolving business landscape, the journey undertaken by B2B buyers has been profoundly transformed by the digital realm. The traditional path of purchase decisions has given way to a dynamic process that unfolds across various digital touchpoints, and numerous channels.
According to Gartner Inc, 75% of B2B buyers prefer a rep-free experience. However, the commercial vehicle vertical has typically been slow to reflect the buying habits as have other areas of B2B. And business purchasing is nowhere near completely dependent on digital interactions, as evidenced by B2B buyers being 43% more likely to regret purchases made through digital channels alone. But the commercial vehicle buyer’s journey is beginning to reflect the demographic preferences of next-gen business owners.
The commercial vehicle buyer’s journey, once characterized by linear steps taken primarily in-person at dealerships’ lots, has now embraced a multidimensional approach, facilitated by the proliferation of technology and interconnectedness. Understanding the buyer journey is a commercial dealer’s foundation for leveraging their pain points and helping them on their journey.
This chapter of the Commercial Playbook series delves into the intricacies of the B2B vehicle buyer’s journey within this digital-specific ecosystem paradigm. We will dissect each of the four stages, or steps—Awareness, Consideration, Decision, Delight—and shed light on the pain points that businesses encounter as they navigate their way to making informed, and valuable, purchase decisions.
You are not selling trucks and vans. You are partnering with business owners and fleet managers to solve their specific problems and challenges. Market your dealership as much as your vehicles. Waiting for OEM inventory to return to glut-level numbers is just plain lazy. Finding the vehicles your customer needs is a smart recipe to develop those lucrative long-term relationships.
Work Truck Solutions
THE AWARENESS STAGE 1
The awareness stage marks the beginning of the B2B vehicle buyer’s journey. At this stage, potential buyers have a burgeoning need, or problem, requiring resolution. However, they may not yet have a definitive grasp of what their particular need or problem entails.
PAIN POINTS
Some specific issues or pain points that might prompt business owners and fleet managers to embark on the Buyer’s Journey include:
Their business is growing and it’s getting harder to complete jobs with the current number of vehicles in their fleet or the types of vehicles they have.
The increasing cost and scarcity of commercial vehicles have made it harder for them to purchase work trucks quickly.
The escalating costs of vehicle purchases and repair operations are becoming unmanageable.
Increasing government regulations have narrowed the vehicle choices available for their companies.
At this point, the prospective buyer just knows that they are experiencing issues and something probably has to change, but they’re not sure what or how.
ADDRESSING THE AWARENESS STAGE
During the awareness stage, the commercial dealership’s overarching goal revolves around providing education about the prospect’s problems. Their job is to help the prospect understand why they are experiencing problems and identify potential solutions.
Asking questions like “How has this impacted your business?” can help you understand where the prospect is at and what knowledge gaps exist. The goal is to
identify their pain points and ensure that they have all the information they need to make an informed decision.
The key here is to not try and sell them anything yet, but rather focus on educating business personnel about the issues they are facing and how to create numerous touch points between them and your dealership.
UTILIZING TOP-OF-THE-FUNNEL CONTENT
Positioning your dealership as a trusted industry source through reliable, relevant content is key to engaging the prospective buyer. Consider circulating eNewsletters/ emails linking to articles tackling key industry topics.
Help buyers quantify their pain points with content that asks questions like:
“What are your biggest concerns with your current vehicles?”
“How many vehicles do you service annually?”
“How long does it take to perform a routine maintenance check, and do you handle this in-house or do you bring these vehicles into a dealership?”
Leverage content that offers insight into trends in the commercial vehicle industry to further build your credibility and establish your dealership as a trusted source of information on all things automotive.
Developing robust, branded content is so key in the awareness stage that even if you must invest in professional writing services for topical content, it is worthwhile.
ENHANCING ONLINE PRESENCE AND VISIBILITY
Creating a compelling online footprint that caters to your prospect’s specific needs is essential to capitalizing on an efficient content marketing plan. In the awareness stage, branding is the word of the day. You want to make sure that your business is recognizable as a leader in the industry.
This starts with having a strong website, but it doesn’t end there. You should also be active on social media platforms like Facebook and X (formerly Twitter), where you can share links to your blog posts and other content. If possible, consider investing in paid advertising campaigns through Google Vehicle Ads or Facebook Ads to drive traffic back to your dealership’s website.
Your dealership site must feature highly visible commercial branding. A prominent link to your dedicated “Work
Truck” site/pages is one of the best ways to generate a strong commercial identity for your business and create continuity between your messaging.
BUILDING BRAND RECOGNITION IN YOUR COMMUNITY
Sustained brand recognition requires not only an online presence, but also continuous networking and community engagement.
Being active in your local and regional trade and business groups can show your commitment to the area’s economy.
Supporting community initiatives and events regularly can demonstrate your commitment to the well-being of local residents.
KEY TAKEAWAYS
Addressing the awareness stage is a two-pronged effort:
Help the customer identify and quantify their pain points.
Build your dealership’s brand as a trusted resource in the world of commercial vehicles.
The awareness stage is the critical first step in the customer lifecycle, and it’s where your dealership can make or break its reputation. It’s important to remember that buyers are looking for a trusted resource that can answer their questions, provide information on available options, and help them make an informed decision. As such, you should take advantage of every opportunity to connect with potential customers and show them why your dealership is their go-to choice for their work truck and van issues/questions/needs.
THE CONSIDERATION STAGE 2
During the consideration stage, commercial vehicle buyers begin evaluating possible solutions to the issues identified during the awareness stage. They’ve determined what exactly their problem is, now they are trying to determine what options are available and how much investment will be required for different solutions.
PAIN POINTS
Key concerns for buyers include:
Available options: The buyer wants to know what options are available and how they work. This is a great opportunity for your dealership to help educate potential customers about types of vehicles and the latest technology and features that can help them solve their business’ vehicle needs.
Cost: The price of the solution poses elemental decisions for buyers. The prospective buyer needs to be certain that the cost will yield a solid return on investment.
Remember, buyers in the consideration phase may not have determined that purchasing a vehicle is the best solution for their problems. Also, bear in mind that your dealership can offer more than just vehicle sales. You are the expert in your industry and can provide solution ideas that may not be immediately apparent. For example, you can help a customer determine whether purchasing a vehicle is the best solution for their particular circumstance, or if an alternative would help them get the most value from their investment. Alternatives to a new vehicle might be an interchangeable truck body system or delivery routing software, depending on the issues a business is dealing with.
ADDRESSING THE CONSIDERATION STAGE
Dealerships need to provide as much information as possible to the buyer at this stage, with a focus on helping the customer find an appropriate solution for their needs.
Publish content that highlights multiple solution options: Content that responds to the specific concerns of your target market has a crucial role during this stage. Now is the time your communications should articulate how various options can mitigate their identified issues, whether in the form of a vehicle purchase, vehicle upfits, or fleet management.
Distribute content focusing on vehicle types: Commercial dealerships need to distribute information about specific vehicle types and models, as well as provide information on the comparative benefits of each vehicle option. Don’t forget the possibility for one vehicle to fulfill multiple roles. This is an important consideration for organizations looking to make the most out of their investment. Your job right now is to provide your target market with everything they need to make an informed decision about how a vehicle type might alleviate their dilemma. In addition, this content should be distributed across multiple channels to reach as many people as possible; think blog, email, Facebook, Linkedin, Google Ads, etc.
Social channels are extremely under leveraged platforms for B2B brands,” said Rick LaFond, Director Analyst in the Gartner Marketing practice. “Marketers can go beyond using social channels for flashy short-form videos promoting brand values to truly demonstrate how the brand supports different customer needs and pain points across various stages of the buying process.”
Optimize your website for search engines: Essential content must be easily discoverable by search engines. Ensure that your webpages, especially those focused on vehicle specifics, are SEO optimized to appear at the top of search results when prospects seek solutions. SEO best practices should include indexing efforts, whether using a sitemap or requesting indexing directly via Google Search Console.
Optimize your site for user experience (UX): Beyond just finding your site, users must be able to navigate it easily. Use clear, intuitive site design and implement UX best practices to guarantee seamless navigation to and around the commercial portion of your website.
KEY TAKEAWAYS
Like the Awareness stage, the Consideration stage is also a two-pronged approach:
Publish content that helps buyers decide what type of solution is appropriate for their needs.
Ensure your website UX is optimized to influence prospects to consider the options your dealership provides.
Your efforts here form stepping stones to the decision stage that follows. At this point, you have your prospect’s attention and you’ve established yourself as a trusted authority and influencer in the buyer’s world. The buyer has used provided material to choose the type of solution that will address their needs and they are ready to make a decision. They just need some help deciding where exactly to spend their hard-earned money.
THE DECISION STAGE 3
The decision stage is critical in the B2B buyer’s journey. It’s the point at which potential buyers have determined which solution is most beneficial and they are ready to buy. However, even at this stage, perhaps especially at this stage, potential buyers still face several impediments.
PAIN POINTS
Pain points in the decision stage may include:
Financing: Arranging for the funds to make the purchase can be a considerable hurdle. Businesses need to identify a financing method that suits their financial plan.
Availability: Limited vehicle options can force companies to compromise and choose solutions that may not exactly match their requirements.
Delivery: The timeline of vehicle delivery can significantly impact business operations, making this a pivotal criterion for decision-making.
ADDRESSING THE DECISION STAGE
The decision stage is when you want to ease any pain points that are holding your prospect back from pulling the trigger on a purchase.
At this point in the buyer’s journey, your focus should be on facilitating the final decision and ensuring the completion of the purchase. Here are some ways dealerships can reduce friction during this stage:
Optimize your website for search engines: Keeping your website SEO optimized continues to be critical. Prospective buyers will likely return to your site multiple times before making the final decision. For your website to appear in your potential customers’ searches, it should host a diverse range of pages featuring keywords linked to vehicle makes, models, and characteristics.
Optimize your site for user experience (UX): A seamless, intuitive user experience can significantly simplify the decision-making process for your prospects. Providing quick access to financing information, availability details, and delivery logistics can be crucial.
Engage prospects with direct response emails: Personalized, targeted emails can help address any remaining concerns. You can outline financing options, discuss availability, and supply information regarding delivery timelines, along with offering a way to connect with your commercial department team to take the next step(s).
Engage prospects with Google and social media retargeting: Retargeting can effectively nurture prospects at this stage, keeping your solutions top of mind as they navigate their decision-making process.
TO ADDRESS SPECIFIC PAIN POINTS:
Total Cost of Ownership (TCO): Now is the time to highlight your offerings that help reduce TCO. Whether your dealership offers favorable financing options, maintenance packages, fuel-efficient models, or warranties, ensure that this information is easily accessible to your prospects.
Availability: Communicate clearly about vehicle availability. If you don’t have something in stock, custom vehicle search platforms can help you quickly locate what your buyer wants.
Financing: Offer comprehensive information about various financing options available to prospective customers. Consider partnering with a financial organization with a deep knowledge of commercial vehicles. Again, you can feature that financing option prominently on your VDPs.
Transportation: Everything we’ve covered on financing applies to transportation as well. It’s critical to display options on VDPs which are natural landing spots for buyers in the decision stage. You want prospects looking at those vehicle description pages to think of your dealership as the place that has solutions to their pain points, no matter if you are “in their backyard” or a thousand miles away.
KEY TAKEAWAYS
Overall, ensuring clarity and detailing customer-supportive options at the decision stage can significantly influence the business buyer’s journey, tipping it in your dealership’s favor.
NON-LINEAR APPROACH TO THE BUYER’S JOURNEY
People rarely take a linear path from prospect to lead to buyer. Your marketing must leverage content and pathways to engage buyers wherever they may be at any given moment.
Once a buyer moves on from the awareness stage, they will bounce between the consideration and decision stages many times before actually buying.
When developing your marketing strategy, keep in mind that buyers will often revisit content related to all three stages during their journey to purchase. It’s important to remember this when developing your strategy, as it will help you create content that speaks directly to each stage of the buyer’s journey.
As buyers gain knowledge of options and weigh the ROI for each option, they will, at some point, settle into the decision stage and your dealership must be prepared to deliver and delight.
THE DELIGHT STAGE 4
The delight stage is often viewed as the conclusion of the buyer’s journey, yet in reality, it’s the beginning of the next cycle. This stage emphasizes the critical role that postpurchase experiences play in fostering customer loyalty and perpetuating repeat business.
The objective of the delight stage shifts away from direct selling and focuses on transforming customers into advocates and promoters who can contribute to growing your business further. Growth can manifest as repeat purchases of commercial vehicles, a steady stream of revenue from maintenance and repair services, expanded operations into fleet management programs, and potential opportunities in passenger vehicle sales to the business customer and their employee base.
PAIN POINTS
After purchasing a commercial vehicle, customers may encounter several challenges, such as:
Customer service quality: Effective customer service can greatly influence how customers perceive your business, which can consequently impact their future purchasing decisions.
Maintenance and repair challenges: As vehicles age, important maintenance and timely repairs become paramount.
Resource management: Managing and tracking a fleet of vehicles can be a daunting task for your customers.
Expanding needs: As businesses grow and diversify, their commercial vehicle requirements will likely expand.
Staying current: Customers may struggle to keep abreast of new vehicle options, government regulations, and emerging technology pertinent to their business.
If these pain points look a lot like the issues that lead to the first step in the buyer’s journey, that’s because they are. This is why the delight stage can lead to a virtuous cycle.
ADDRESSING THE DELIGHT STAGE
(Strategies to Delight Customers)
To change these challenges into opportunities to delight your customers, you can:
Enhance the customer service experience:
Adopt a proactive approach to customer service, addressing potential issues before they become problems. Always aim to provide efficient, helpful, and empathetic customer service - and seek out ways you can make your dealership stand out.
Assist with maintenance and repair: Either provide vehicle maintenance and repair services yourself or establish partnerships with trusted service providers. Introduce beneficial service packages and comprehensive warranty programs to add value for your customers.
Support fleet management:
Establish in-house fleet management solutions or connect your customers with dependable third-party providers. Show your commercial vehicle customers how utilizing fleet management solutions can help them effectively track and manage their vehicles, thus saving them money.
Identify and respond to growing needs:
Stay connected with your clients, understand their evolving needs, and present solutions proactively to resolve their anticipated challenges.
THE CYCLE REPEATS
Understanding the cyclical nature of the customer journey helps you recognize the importance of sustaining customer relationships. By delighting customers each time they interact with your dealership, you set yourself up for repeat business and customer referrals.
KEY TAKEAWAYS
To summarize, the delight stage is not merely a closing stage of the buyer’s journey, but an initiation point for future transactions. Prioritizing proactive customer service, offering comprehensive care for the vehicles you sell, empowering your customers with fleet management tools, and staying in tune with changing needs will all help to ensure customer satisfaction.
Satisfied and happy customers transform from being strictly customers into industry advocates, promoting your business and contributing to its sustained growth. Use the same customer-centric approach when addressing the needs of each stage, and your dealership will be on its way to building customer loyalty.
