Codirect helped Tampa Honda focus on bringing back old customers and improved market share growth.
In just over five months, 31% of repair offers completed at Tampa Honda came through Codirect, and the dealership made 63 times its investment.
Results
During the five-month period of the case study, Tampa Honda saw 13,589 total ROs, 4,266 (31%) of which were touched by Codirect. Customer pay of $490,566 and warranty pay of $33,613 resulted in a blended gross profit* of $288,298.
Throughout the same period, Tampa Honda saw 154 sales and acquired 139 vehicles from Codirect, resulting in sales profit of $660,000. When combined, blended gross profit from ROs and sales profit came to $948,298.
Conclusion
With a spend of $15,000 and a profit of $948,298, Codirect delivered Tampa Honda an investment gain of $933,298, or an ROI of 63:1. Video messaging was a huge success!
Great job to Codirect! Our customers love the video touch and we’re seeing old customers coming back. It’s a process-free and people-free system, and we’re getting great results from it!
Jeff King
Fixed Ops Director, Tampa Honda
*This figure was reached by adding customer pay and warranty pay and multiplying by the conservative industry standard of 55%.
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