Category: EFG Companies

Give Your Customer Retention a Boost with MVP

Post author By efgmarketing
Post date July 24, 2019

Contributing Author:
Eric Fifield
Chief Sales Officer
EFG Companies

If customer retention was ever a buzzword, it is this year! Everyone in the automotive industry is talking about it. But, what are we doing about it? The challenging thing about customer retention in the retail automotive business is the amount of time between purchases and the lack of frequent interaction with the customer during that time. Of course, the answer lies in the service drive, so how are we as an industry thinking about it differently than in years past?

Leaving Money on the Table

Let’s look at retention in terms of customer engagement between vehicle sales. According to research from the National Association of Automotive Dealers, 83% of customers who perform maintenance with the selling dealer are more likely to return to purchase another vehicle. However, the Cox Automotive 2018 Service Industry Study states that dealerships only represent 33% of the share of consumer service visits. Literally, dealerships are getting only a third of the customer’s business for maintenance. Not only are you losing the opportunity to engage with your customer – you’re losing service drive revenue!

Tags Cox Automotive, customer retention, EFG, EFG MVP, Eric Fifield, NADA, National Auto Dealers Association

EFG Companies

EFG Launches Customizable Maintenance Plan to Boost Customer Retention

Post author By efgmarketing
Post date June 18, 2019

DALLAS, TX (June 18, 2019) EFG Companies, the innovator behind the award-winning Hyundai Assurance program, today announced the launch of the company’s new pre-paid Maintenance Value Program (MVP), designed to boost customer retention with a fully-customizable program to fit individual dealership needs. For more information, visit http://bit.ly/2F6IV2D.

According to the National Association of Automotive Dealers, 83 percent of customers who perform maintenance with the selling dealer will return to purchase another vehicle. However, for decades dealers have struggled on the customer retention front. The Cox Automotive 2018 Service Industry Study states that dealerships only represent 33% of the share of consumer service visits.

“We originally developed MVP to provide a solution for the customer retention puzzle,” said John Pappanastos, President & CEO, EFG Companies. “As customer and vehicular needs have changed, we’ve morphed MVP to be even more compelling with customizable options. Dealers utilizing MVP now have a better opportunity to turn one-time only vehicle purchase events into an ongoing relationship through the service drive.”

EFG Companies

EFG Companies Wins Three Gold, Two Silver National Stevie^® Awards

Post author By efgmarketing
Post date March 5, 2019

EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced today that the company earned awards in all categories in which it submitted for the 13th Annual Stevie^® Awards for Sales and Customer Service. EFG competed against companies from around the world, such as IBM, Delta Vacations, DHL, Salesforce.com, John Hancock Financial Services, GoDaddy, and Dell Technologies. For more information on EFG’s accomplishments and the history behind the Stevie Awards, visit http://bit.ly/2mmqu2z

EFG Awards:

A Gold Award in Contact Center of the Year (up to 100 seats) for reducing claim lifecycle time through EFG’s award-winning digital client portal, EFG DRIVE, EFG Express Claims, and the company’s process changes to empower adjusters to manage claims more effectively.
A Gold Award in Sales and Customer Service Solutions Technology Partner of the Year for the company’s digital client portal, EFG DRIVE, and its self-service contract holders website.
A Gold Award in Sales Management Team of the Year for EFG’s client satisfaction survey results, the company’s partnership with Bob Moore Auto Group and Nyle Maxwell to be recognized as Pacesetters by F&I and Showroom News, and for EFG’s utilization of the EFG L.O.V.E. (Learning Opps through Virtual Engagement) portal to better equip the company’s field team to serve its clients.
Two Silver Awards in New Marketing Solution for EFG’s contract holders website and the EFG L.O.V.E. (Learning Opps through Virtual Engagement) campaign to provide clients with ongoing access to video, infographics, podcasts and articles on the trends affecting their business today.