Automotive Transformation Group unlock the key to amplifying customer lifetime value, securing a 52% sales conversion rate
The service empowers brands to proactively engage with customers via customisable, targeted intervention techniques proven to maximise sales conversion and enhance customer lifetime value.
Leading Supplier of retailing solutions to the automotive sector, Automotive Transformation Group today unveil their all-new Retention Managed Service, powered by Retain Automotive. The service empowers brands to proactively engage with customers via customisable, targeted intervention techniques proven to maximise sales conversion and enhance customer lifetime value.
Automotive Transformation Group’s NetDirector® Retain currently serves 60% of Financers in Europe and manages more than 3.5 million live finance contracts. However, The Group have recently optimised it to cater for Retailers, of which they serve 82% of the top 200 locations in the UK. The evolution consists of a managed service, powered by engagement specialist solution provider, Retain Automotive and complements their existing NetDirector® Retain technology by drawing on its ability to identify and reach out to customers who are in equity and are therefore well placed for a vehicle upgrade. The Managed Service uses this intelligence to engage with customers directly and proactively via telephone.
Assuming that a salesperson has the time to invest in their delivery and maintenance, a first-class experience and consistent relationship management can be impressive drivers of lifetime loyalty and renewals. Although it seems many do not have the time to spare. Forbes confirms that two-thirds of a salesperson’s time is spent on non-revenue-generating activities, leaving just 35.2% of their time to focus on selling. This could be due to the growing number of systems a salesperson needs to access to make a sale, evolving compliance pressures or administrative tasks.
With their Retention Managed Service, Automotive Transformation Group have been able to remove the monotonous task of qualifying a customer, finding them a vehicle, checking for inconsistencies, quoting, and requoting courtesy of their engagement partner, Retain Group. This allows salespeople to spend more time on delivering that first-class consumer experience that translates directly into sales and loyalty.
Retain Automotive is already trusted by some of the world’s leading automotive brands and boasts a 98% compliance score courtesy of self-assessments that follow every call, screen views with advanced filters and quality check markings surfaced in the reporting. This is an impressive finding, considering that their business intelligence suggests the national average compliance score sits between 70 and 80% with some as low as 35%.
As part of a recent case study of 4 anonymous Retailers, Automotive Transformation Group’s Retention Managed Service recorded over 1,000 successful contact attempts, of which 672 were classified as qualified opportunities. As a result, just shy of 450 appointments were made, translating into a 53% appointment conversion rate. A further 31% of these resulted in a closed sale. The managed service comes complete with data insights to further maximise these sales. Following each appointment, the customer is asked if they were offered an up-to-date settlement, an accurate valuation and a test drive. They are also asked if they have all the information they think they need to make an informed decision. Of which during a separate case study translated into 52% sales conversion rate.
When asked about the strategic placement of this offering and what it could mean for the industry, Chief Revenue Officer, Richard Johnston said “It’s one thing to be able to identify customers who are in equity/parity and target them using personalised offers, but it’s another level entirely to proactively engage with them using a team of industry specialists, all without salespeople having to use valuable resources to maintain every account. We take great pride in our partnership with Retain Automotive and look forward to seeing the positive effect their involvement will have on vehicle sales, customer operations and our technology. Salespeople will have more time to focus on closing sales and acquiring new business, and as automation and system consolidation become key themes for 2024 their human touch will set them apart from their competitors.”
Managing Director of Retain Automotive, Emily Aves adds “It’s a pleasure to be recognised by Automotive Transformation Group as a key driver for customer lifetime value. Engagement is critical to fostering not just vehicle renewals but true customer retention and with Automotive Transformation Group, we’ve fashioned the perfect synergy for NetDirector® Retain (known to many clients as Key2Key or P360). Their technology complements our ability to engage with consumers on a human level, appealing to their individual circumstances to maximise sales. We look forward to seeing our partnership with ATG evolve.”