Revenue Growth

How Equipment Dealers Can Increase Revenue:
Target What Customers Are Buying

The goals of marketing for equipment dealers are to achieve revenue growth by connecting with more customers, to increase retention, and to boost how often customers purchase. But in order to achieve these goals effectively, dealers need to sell what their customers are looking to buy. That means you must fully understand what your customers want and how they want it. The way to accomplish this goal is for equipment dealers to incorporate market research services and customer satisfaction surveys as key parts of their marketing efforts.

Achieve revenue growth by knowing your customers

Market research services and customer satisfaction surveys are tools that equipment dealers can use to better understand their customers who are buying their equipment, parts, and service. These services help you really get at the heart of what customers want from you by actually talking to customers to hear what they have to say.

By implementing customer satisfaction surveys and market research services as part of your equipment dealer marketing strategy, you will measure how happy your customers are and identify where you need to make improvements. Once you understand what people want to see and what is most important to your customers, you can align your business, your marketing, and your sales message with their needs.

It is a lot easier to improve revenue growth when you are selling exactly what your customers want in the ways that they want to be sold. But you won’t know what they want unless you ask them.

How customer satisfaction surveys work

At Winsby, we conduct customer satisfaction surveys over the phone, because they generally provide a much better sample. Our team typically reaches a customer over the phone on every third call. And then once we are talking to them, about 97% agree to take the phone survey. This rate is much better than responses for email surveys, for which a good response is 2% of recipients.

Plus, when you do surveys over the phone, you have the chance to learn much more from your customers. They can fully explain what issues they are experiencing and what they want to see, even if those responses go beyond the specific questions. With email surveys, you can’t even be sure that the recipients are reading the questions.

The proof is in the results

The cornerstone of revenue growth is customer retention. And the key to improving customer retention is showing customers that you care about them, identifying and fixing any issues that come up quickly, and consistently providing what they need to be successful. Our clients that implement customer satisfaction surveys as part of their equipment dealer marketing see about 30% to 40% higher customer retention rates than those that do not. The reason is that those dealers can improve every part of their business, from heavy equipment service to sales to rentals to parts, and align them to exactly what their customers want.

In other words, customer satisfaction surveys allow you to sell what the customer is buying.

If you want to start achieving consistent revenue growth for your equipment dealership, then talk to our team today. We provide the market research services and customer satisfaction surveys you need for success.

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