If you do not think that customer retention can make a significant impact on your service department revenue, consider the following:
- Acquiring a new customer costs more money than retaining an existing customer. It can cost a dealership up to 7x more to acquire a new customer than it does to retain a customer it already has
- Your existing customers are more likely to schedule service appointments than those who have never been to your dealership before.
- A 5% increase in customer retention can lead to a profit increase of up to 95%.