Just from 2021 to 2024, the number of the U.S. population living paycheck to paycheck has jumped from 61% to 64%. It’s not surprising that many vehicle owners cannot afford unexpected repairs. The latest findings from recent auto repair consumer research and insight report “Cracking The Code”, indicate that 42% of drivers surveyed could not afford an unexpected repair of $500 or more.
We Asked 8,274 Drivers :
How Much They Could Afford For An Unexpected Auto Repair.
Recommendations
1. Be sure to promote any available financing options you provide.
2. Develop carefully crafted strategic coupons/special offers that will appeal to a broad audience to attract new customers with savings.
3. When considering how to spend your marketing funds, consider targeting prospective customers with higher incomes who may have more disposable income to afford larger repairs.
However, there is one small caveat to that. After analyzing customer data from many repair shops, we have seen some cases, where customers in areas with much higher incomes have a very low ARO due to using the independent shops for lower ticket oil changes while taking their vehicles to the dealership for other services.
Of course, you know your shop and demographic better than anyone. We simply recommend this as a potential blind spot that is easy to miss but also easy to identify with the right reporting.
Download Cracking the Code Automotive To Learn More About Your Shop’s Customers
& Access Mail Shark’s Latest Consumer Research And Insights Report.
What Else You’ll Learn:
- What Google rating can hurt your shop?
- How often do your customers want to hear from you?
- Do customers want their vehicles sanitized?
- How much can drivers afford for repairs?
- Do drivers trust auto repair shops?
- How to build trust with customers?
- Who uses coupons?
- & Much More!