Customer success stories:
Formula Venture
Honda dealership grows customer engagement and loyalty with OutPerform amidst the pandemic
Customer success stories:
Honda dealership grows customer engagement and loyalty with OutPerform amidst the pandemic
The unprecedented downturn caused by the pandemic resulted in a huge loss in profits for many businesses. Within Malaysia, the automotive industry experienced more than a 25% loss in sales within the first quarter of 2020. Sales continued to drop 60% in March when Movement Control Order kicked in, to the point where zero sales were recorded in April. During this time, Formula Venture (an authorised Honda 3S dealer in Penang, Malaysia) decides to execute a change in business strategy to focus on value-added aftersales services, in particular insurance renewal. With OutPerform’s Conversational AI and in-built Lead Management System, Formula Venture successfully digitalised and automated its insurance renewal process, enabling workflow efficiency and flexibility for remote working. The automation includes sending a reminder to customers 3 months, 2 months, and a month before the expiration of their car insurance. Only when a customer respond and has indicated his/her interest in the renewal, the Conversational AI will trigger the creation of a lead in OutPerform and a lead notification will be sent to the relevant sales representative to process the renewal. This not only saves sales representatives’ time to contact the customers one by one, but it also creates a sense of reliability and dependency for the customers, increasing their switching costs. Ultimately, this has resulted in an increase in customer loyalty and long-term value.
Inefficient follow-up process, in-premise insurance renewal system with no way to access remotely
OutPerform Conversational AI & Lead Management System
Qualified 215% more leads, increased lead engagement by 28%
“Right after we implemented their solution, we saw a 100% success in lead contact rate with less than half the time it used to take us. We have been on track to hit our insurance renewal target month after month.” - Janice, Manager, Formula Venture
Manager
(Formula Venture)
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