and 28 of the largest car manufacturers. They got this information using AI, machine learning, and customer sentiment analysis to examine social media sites and online reviews.
From what they gathered, they created a Reputation Score for each dealership, manufacturer, dealer group, and OEM brand. The scores let them rank the businesses and create a list of the top 100 brands with the best reputation. They also provided tips on how best to use reputation and customer engagement to increase sales.
According to the report, a high Reputation Score led to more sales. Sales went up by around 1% for every 30 to 40 point increase in their score.
A positive brand reputation even influenced whether or not people decided to walk into a dealership. A survey found that 54% of people thought a dealership's reputation was the most important factor when deciding where to buy a car.
It isn't surprising that there was more than a 10% difference in sales volumes between dealerships that managed their reputations well and those that didn't.
They also found that a company’s Reputation Score was heavily influenced by how they interacted with customers, especially those that posted
online. The report shows that negative reviews could be turned into positive reviews 33% of the time just by companies responding to the complaints.
It seems auto dealers are aware of this. They are already better than other industries at responding to negative online reviews. Their response rate to online sentiment is 69%, and the industry as a whole had an average Reputation Score of 607 out of 1,000.
Good customer service in general also has a big impact on brand reputation and sales. The report said 54% of consumers would buy from a dealership that gave them a pleasant experience, even if the cars weren't cheap. Another 47.6% of people in the study said they make a point to shop where they know salespeople are friendly.
The main way to improve a company’s reputation to boost sales would be to encourage good customer service tactics. This includes responding to customer complaints quickly and politely. Customer experience is an important factor in brand reputation, as it has a heavy influence on customer opinion and satisfaction.
If you aren’t satisfied with your car insurance, the
app can help. A licensed broker, Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new car insurance. Jerry will even help you cancel your old policy.
And to ensure you always have the lowest rate, Jerry will send you new quotes every time your policy comes up for renewal, so you’re always getting the coverage you want at the best price.
Hannah is a recent college graduate with a degree in English Creative Writing from Seattle Pacific University. Currently located in Washington State, she's interested in applying her craft in news areas across new subjects, using her skills to stretch her comfort zone. Outside of writing articles about cars and insurance, Hannah is drawn to Creative Nonfiction writing, though she loves a good fiction book. In her free time, Hannah enjoys reading, playing basketball, sunny hikes in the PNW, and flexing her creative muscles through art.