Lead Generation, Customer Retention, and eCommerce Performance Management
- Average order size:
By using market data, intimate market knowledge and enabling the proper source flow of parts and delivery logistics, LiveParts is designed to create larger order sizes, while increasing margins and reducing margin loss in delivery processes.
- Average margin:
With a vast overview of the parts market within dealer processes, LiveParts uses traditional as well as AI processes to continuingly increase the average margin across a dealerships continued sales history.
- Number of transactions:
As there are costs involved with every order process and delivery, sometimes less is more. By increasing sales volume, gross profit, and average margin while maintaining ideal number of transactions, net profit is ultimately increased.
- Conversion rate:
There is an underlying cost to generating every visitor to your eCommerce website. Utilizing real time interaction with dealership staff along with Gamut support, social proof functionalities and vehicle connected previous purchase testimonials, conversion rate is constantly improved.
- Shopping cart abandonment rate:
Part customers are not impulse buyers. They are generally shopping for a part that they require, rather than desire. An abandoned cart means that one or a number of pre-requisites were not met for the customer, who is likely shopping elsewhere. As LiveParts is a real time end to end system, pricing and fulfillment options for a part order can change within moments. LiveParts automatically revisits abandoned carts several times, generating better pricing, sourcing and fulfillment options as they become available and automatically emailing would-be lost customers.
- New customer orders vs. returning customer orders:
There is a larger cost to gain a new customer, than to keep an existing one. Within the OEM and aftermarket parts market, body and repair shops need to order parts every day. LiveParts has various ways of incentivizing and ultimately satisfying those vital often returning customers who make up the most significant portion of a dealerships eCommerce parts sales.
- Product affinity:
LiveParts dynamic multi-metric drill down part search UI, combines global sales data to understand what parts are commonly purchased together, increasing order size, while reducing transaction cost.
- Competitive pricing:
By negotiating, and utilizing direct and shared sources, amongst multiple dealer clients, part pricing normally reserved for the largest seller entities are available to even single dealer unit entities.
- Customer lifetime value (CLV):
The CLV tells you how much a customer is worth to your business over the course of their relationship with your dealership. LiveParts facilitates direct benefits to your best customers, and provides customer relationship tools to participate and communicate with them.
- Customer acquisition cost (CAC):
CAC tells you how much your company spends on acquiring a new customer. This is measured by looking at your marketing spend and how it breaks down per individual customer. Gamut is a support and services company, as well as a technology company, and a provider of parts. Our entire mission statement is built around reducing your customer acquisition cost, strengthening relationships with high value customers, deducing customer churn rate, increasing part sourcing and fulfillment options while increasing your margins and ultimately net profit for your parts business.