A dealer recently asked me what is the next “hottest thing” for independent auto dealers. I did not even have to hesitate when I answered “texting products and how you use them to interact with your existing and prospective customers”.
I have spent the past two years studying texting and how it can be properly utilized in a dealership environment. I have seen examples of the good the bad and the ugly. I know of dealers that have settled law suits based on violations of compliance issues related to texting. There is no question texting is how you efficiently reach customers today. When surveyed, over 80 percent of Americans would prefer to respond to a text message versus a phone call. So how do you implement and utilize this powerful tool to drive business and improve the profitability of your dealership?
Step one is to insure that you utilize a compliant product for your texting activity. Generally, this activity falls in to two key areas – communicating with your existing customers and marketing and promotion.
customers and marketing and promotion. There are slightly different requirements for these separate usages. For instance, I may be a BHPH customer and want automated reminders but not mass broadcast marketing info like specials on inventory or service. Conversely I may be a prospect on the lot that simply says “text me when you get more SUVs”. That requires a different type of consent. I am not going to attempt to summarize all of the compliance requirements and nuances of texting activity in this article. What I will do though is offer a white paper we authored on text messaging guidance that is based on hours of research and consultation with the leading experts and legal minds in the industry. If you would like that white paper you may visit textmaxxpro.com or email us at [email protected] for a copy.
What I will tell you is that once you understand the compliance issues and you have a product to use the possibilities are endless. Given that 98% of text messages are read within 10 minutes think about how you can instantly communicate, without the restraints of a phone call or voice message, with your customer. Our data shows that, hands down, BHPH customers will resolve delinquency issues and communicate about an account via text tenfold times more frequently than a traditional collection call. What does this mean? You interact with your customer in a much more convenient way and your portfolio ultimately should perform better.
Think about that retail customer who you can communicate an instant approval to as