Testing is one of the most important aspects of marketing. Without proper benchmarks and key performance indicators (KPIs), however, businesses may be wasting time and money focusing on marketing efforts that aren’t producing results. To combat this shortfall, here are effective reporting methods and goals and how to use them to improve performance.
Evaluate The Success Of Marketing Efforts
The first step to ensuring that your marketing strategies are resonating with your audience is to create key performance indicators for you and your team. KPIs are quantifiable metrics that express how well a company is carrying out its fundamental business objectives.
For your shop, this might include:
- Increased average repair order- A standard goal for any auto repair shop, average repair order can mean that your customers are beginning to purchase more recommended services and trust your shop with bigger repairs, increasing your customers’ loyalty to you.
- Improved car count- This is an effective indicator to determine if customers are continuing to return to YOU
- Rewards program membership growth- If you have a rewards program, ensuring you continue to sign up existing and first-time customers is critical to see a lift in average repair orders long term.
- Online Reviews- Tracking your shop’s online reviews is essential to understanding the reception of your marketing strategies. Studies have shown that increasing your review rating from 3 to 5 stars results in a 25% increase in the click-through rate (CTR).
Use Data To Improve Customer Retention
Studies show that acquiring a new customer costs 5 times more than keeping an existing one. That’s why a focus on customer retention can really pay off, especially for small businesses.
Customer loyalty programs are an ideal method for improving retention as effective rewards programs keep customers engaged and increase repeat business through incentives.
An important step to improving customer retention whether it’s through a loyalty program or not, is to collect data from each transaction. This can reveal your average repair order and determine how frequently a customer comes into your shop.
To effectively track transactions it’s helpful to utilize platforms that can streamline the process. That’s where an automated marketing software like BayIQ comes in handy.
Adjust Efforts Based On Reporting
While testing new marketing strategies can be intimidating, it also might reveal a new, more efficient way to gain customers. An important step in this process is analyzing the outcomes of your chosen strategy so that you can pivot if needed.
For example, if your customer loyalty program hasn’t gained any members for a while, you might change the bonuses and promotions you’re offering to further incentivize customers to return to your shop.
Consolidate Marketing Materials
A suite of marketing tools allows auto shop owners to automate and consolidate all of their marketing efforts in one place.
BayIQ not only provides a customer rewards program that offers rewards based on dollars spent in the shop, captures email and text permission, sends bonuses and promotions, but also comes with dashboards and reports to easily track the health of your shop.
Team up with BayIQ to start meeting your business goals with a simple, all-in-one marketing strategy.