4 Payment Processing Solutions to Increase Customer Survey Scores in the Auto Industry
As a car dealership, your customer service survey results are everything in this day and age.
Dealerships that have poor customer satisfaction can essentially be driven out of business. On the other hand, auto dealerships that have excellent customer satisfaction can meet and exceed revenue goals. One sales consumer experience study found that a dealership could bring in over $100,000 annually by focusing on and prioritizing customer satisfaction.
While we provide payment processing services to dozens of industries across the United States, one of the top five industries we specialize in is the auto industry. In fact, prior to joining our team, a few of our employees worked in the auto industry. We understand the problems you have and can provide you with solutions to help make customers happy.
4 Ways to Improve Customer Satisfaction with Priority’s Payment Processing Solutions
Offer your customers payment processing solutions that are convenient for your team to deliver and are convenient for customers to make.
Accepting payments on a payment terminal machine has been the norm in the auto industry and in other industries for a long time. But, things have been changing.
With the evolution of smartphones came mobile payment solutions that consumers started to adopt. The Federal Reserve found that 39 percent of all mobile users in the United States had made a mobile payment in 2015, a number that has since increased. By the end of this year, eMarketer predicts that mobile payments in the United States will exceed by $130 billion.
With that being said, we recommend updating your payment terminal machine(s) to a mobile payments solutions or a payment gateway.
One of the reasons consumers like mobile payments is because they are convenient. With a mobile NFC payments product such as Apple Pay, consumers already have their credit card information loaded on their mobile phone and simply tap a button to make a payment. Plus, during a pandemic customers can feel safer about making payments by not having to touch any payment devices. With a mobile payment solution that is not NFC-enabled, you can bring payments to your customers, like Apple does in its stores. Apple’s customers don’t go to the payment counter. Instead, sales reps bring the payment processing equipment to them.
This falls hand in hand with offering customers convenient payment processing. Gone will be the days of your finance managers running to some remote part of the dealership to accept payments from customers they’re seeing. Now, finance managers would be able to log into a secure payment gateway right from their computer or mobile device and accept any additional deposits or spontaneous after-sale purchases that would otherwise add time to customer visits.
In addition, the use of a payment gateway streamlines payment processing by keeping accounting all in one place and not requiring batching out from and managing multiple payment systems. Streamlining payment processing can help avoid accounting errors. Less errors = happier customers.
Speed up the amount of time customers spend at your dealership with convenient payment processing solutions. Can you agree that one of the biggest customer complaints is how much time it takes to buy an automobile? Some people hate going to an auto dealership because they could end up spending what seems like all day at one. By accepting credit cards and other types of payments that are convenient, you can get our customers in and out of your dealership faster, thus, saving them time.
Cash discounting has gained momentum since COVID-19 hit with merchants looking for ways to save money. Some companies have switched right over to a cash discount program that does not give customers the option to pay with a debit card or cash in exchange for not paying a cash discounting fee. On smaller purchases, we’ve been told this is not an issue as customers don’t seem to notice the fee or mind it if they do. When putting $2,000 on a credit card as a down payment on a car, your customers are going to notice.
With our Net Zero Processing FeesTM you can give your customers the power to choose how they want to pay. In addition, avoid having to raise your prices on parts and services to make up for lost wages. Our Net Zero program is flexible in the sense that you can choose to opt into the program option where your customers can pay with a debit card or cash if they don’t want to pay credit card process fees. If your auto dealership is also registered under two separate entities — one for parts and one for service — you can choose to offer Net Zero under just one entity and not the other.
We provide payment processing services to hundreds of auto dealerships across the United States. Here’s what two dealerships had to say about our payment processing company.
Everyone says they’re specialists. We’re specialists at Infiniti and Nissan sales and services and the Priority Payments Local team is specialists at what they do, especially within the auto industry.
We have been working with Priority for more than four years and have not had to look anywhere else for a company that processes electronic payments. Everything with Priority since day one has been seamless and stress free from a fast setup to secure and reliable ongoing processing.
Angelo and his team are amazing to work with and have been there for us for every single aspect of payment processing. Priority is the only company I trust to handle my payment processing and equipment needs.
Enrico Trantino, Owner, Kings Infiniti
Priority Payments Local is amazing! Working with Priority has saved us thousands of dollars, not only in processing fees but in employee productivity. Whenever we need Priority, they respond immediately, offering the most professional and proficient support.
They provide exceptional service, providing us with location training (for our 20 locations), helping with loss prevention, and maintaining credit card processing compliance. The relationship we have with Priority is essential in keeping our payment operations running smoothly. We are happy to recommend them as a trusted financial services provider.
Silvia Crociata, Vice President of Accounting and Operations
If any of the stories shared in this article are relatable, speak to our business development team about the best way for your auto dealership to process payments. Our payment processing company is headquartered in Central, NJ and provides 24/7 US-based customer support to merchants across the United States.