Keep Customers Coming Back to Your Auto Dealership
Retaining customers to your business is becoming more vital than ever. Regardless, several current merchants are more concerned with obtaining new buyers rather than concentrate on creating values that ensure they retain their old customer base.
According to the latest marketing research published by Harvard Business Review, the most excellent way to keep clients loyal to your business is to create a formal loyalty program. It will elevate customer appreciation of your dealership and increase the possibilities of the existing customers sharing their experience with their families and colleagues. Precisely, the following principal reasons your car dealership should have a branded loyalty program.
1. Improves Customer Retention
Implementing a reward system that awards customers for their continuous purchases is more likely to entice your clients to come back for additional products and services. According to Forbes, increasing customer retention by 5% will increase your earnings by 25% to 95%.
2. Increases Customer Interaction and Engagement
A branded loyalty rewards program for auto dealerships plays a central role in your marketing and customer engagement strategies. Through the program, you can collect essential customer data and insight, thus enabling you to provide value unique to each of their needs.
3. Captures More Value and New Customers
Car dealer loyalty programs foster customers who keep buying your products time and time again and refer their friends and families to your business. Customer retention will create value by reducing the new customer acquisition expenses that typically costs 5-25 times more than catering to those who are already loyal.
To model a car dealer loyalty program that perfectly fits your business, please contact AutoAwards or call us at 302-696-6000. We are a recognized industry leader in automotive marketing companies, acquiring a well-established rapport with several successful dealer groups.
Since our founding in 1991, AutoAwards has been widely recognized as the industry-leader in automotive and marine loyalty marketing, earning longstanding relationships with many of the industry’s most successful dealer groups and OEMs. AutoAwards understands the #1 predictive factor for dealer growth and profitability. Customer loyalty is the most successful way to build revenue. AutoAwards has always recognized the need for top notch, highly creative, effective loyalty strategies in large and small businesses alike. Contact us online to talk about dealer loyalty or call 302-696-6000.