As we gear up for another promising year, it's crucial to take a moment and reflect on the milestones and challenges that shaped our journey in 2023. Today, we're thrilled to share with you invaluable insights regarding the benchmarks set for the past year. In this blog post, we shed light on the performance of our equipment dealership servicing both agriculture and construction businesses across various departments, providing a detailed look at what transpired and what to anticipate moving forward.

SATISFYD's CEO, Ryan Condon's Insights on 2023 vs 2024 Benchmarks

Year over year, we track the Net Promoter Score (NPS) for each department in a dealership to gain insights regarding what's working and what needs improvement. Let's take a look at the changes in NPS from 2023 to 2024 for our customer base:

Ag Parts

✓ Two significant changes marked 2023: a substantial improvement in-stock parts availability and an enhanced ability to secure non-stock parts.
✓ Dealers have shown impressive strides in sourcing parts quickly, and the willingness to expedite shipments reflects positively in the improved scores.
✓ However, there is a slight dip in the recommendation score, potentially linked to a decrease in product knowledge among parts personnel.

Ag Service

✓ Across the board, service scores experienced a dip, with notable drops in explanation of work done, convenience of service hours, and appreciation for business.
✓ On the positive side, repairs made correctly the first time and being ready when promised saw improvements.
✓ 2024 should keep a keen eye on service departments, considering similar retention issues and possible process challenges.

Ag Sales

✓ The only Ag-specific department to see a significant improvement across all questions.
✓ Net promoter score increased by over three points, showcasing a commendable focus on training sales personnel for an enhanced customer experience.

Construction Parts

✓ Construction dealers mirrored their agricultural counterparts with significant improvements in in-stock parts availability and securing non-stock parts.
✓ All construction parts questions saw improvements, and after-hours availability suggests a heightened focus on accessibility.

Construction Service

✓ Similar to construction parts, all service questions saw positive year-over-year improvements.
✓ Communicating estimates and quote changes, helpful service personnel, and explaining work done witnessed the greatest enhancements.
✓ Increased response time for mobile service indicates a strategic focus on being present when customers need assistance.

Construction Sales

✓ Construction dealers faced lower scores in explaining maintenance requirements, warranty coverage, and operating features, signaling room for process improvement.
✓ The use of follow-up after-sale questions resulted in significant improvements, particularly in fairness, honesty, product delivery, and knowledge.
✓ Overall, construction sales departments showed strong across-the-board improvements.

Construction Rental

✓ Explaining rental fees experienced the most significant increase year-over-year, reflecting an industry-wide focus on transparent communication.
✓ Positive shifts were observed in the helpful attitude of salespeople and equipment readiness.
✓ However, equipment performance on the job and explanation of operating features saw notable negative changes.
✓ Accuracy of rental billing satisfaction fell year-over-year, emphasizing the need to improve invoice clarity and eliminate surprises for customers.

Want to delve deeper into NPS?

Download the 2024 Customer & Employee Experience Benchmark Report to gain deeper insights into NPS for dealership size and departments. Additionally, discover employee NPS and online reputation benchmarks.

Here's to a successful journey ahead!

As we step into the future, armed with the lessons of the past, SATISFYD remains committed to elevating customer and employee experiences in equipment dealerships. We hope this benchmark overview serves as a compass, guiding your dealership towards areas of improvement.

With 2024 here, let's continue working together to set new benchmarks and surpass expectations!

P.S. New to SATISFYD? We would love to connect with you. Please reach out by clicking here or email us at customersuccess@satisfyd.com.