Business Plans: It's about the process, not the product." - Delvin R Chatterson
According to NHTSA there are over 60 million cars in the US with Recalls on them. The average cost of a recall is $548. That is over $31.5 BILLION worth of revenue sitting out there waiting for dealers to capture.
Now, Dealers, you may be thinking, "how do I get my hands on that revenue?"
Well, that is where you think back to your recall process. Do you have one? If so, is it effective? Does your process not generate enough money as you would like? Those are all questions you have to think about.
RecallRabbit would love to help you out!
Here are a few steps to take action and start the process:
Look in your own DMS data, find high ROI recalls and give the data to your BDC or service advisors to have them reach out.
Every time a customer calls in to set up a service appointment, check the Vin for a recall.
On the trade appraisal, check the vin for a recall. You might be able to step up on the trade if there is a $1,500 recall you know you are going to get paid on through service.
Use this as a way to get used vehicles. Reach out to customers who have recalls and use this as an opportunity to offer a free "appraisal" of the customer's vehicle.
Make It EASY! Offer to pick up and drop off. If you don't have the team look into one of the great companies out there offering concierge pickup and drop-off services. We have partnered with HopDrive because of the great technology and service they have developed.
Want to know more? Set up a no-obligation call with us and we would be glad to give you more information and tips at no charge.