Brand Loyalty Affects the Auto Industry
Return customers are the foundation of retail, and every company must provide a reason to and for the customer to return. A customer may keep coming back for low costs, exceptional customer service or another feature to a loyalty program. One of the benefits of working with AutoAwards is we set up how to collect this information to provide more personalized customer experiences to increase loyalty. Brand loyalty is also important.
What Drives Brand Loyalty
In the survey, 75 percent believed that there would be more brand loyalty if brand commitment was encouraged and implemented to promote better strategies.
The survey found that 40 percent of the customer loyalty in the automotive industry is in their vehicle and 31 percent is associated with an emotional appeal. People like to have “their” brands, so if companies would add an emotional appeal to their excellent product, fidelity would be the result.
The primary indicators of developing an emotional connection, whether positive or negative, includes emotions such as confidence, anger or lack of anger, complacency, pride or happy. Brand loyalty is created when the automobile is originally sold, and the customer is proud and happy with their vehicle.
Brand Loyalty in the Automotive Industry
Auto owners above most other retail categories look for an overall relationship in the vehicle they choose, so, after the company has created this, it doesn’t make sense to forget about the customer after their primary sale.
Implementing discounts and special offers would draw them back to the product after the initial purchase. Customers need to feel valued and that their loyalty is rewarded. This is why AutoAwards started testing brand loyalty in the automotive industry over 20 years ago.
Benefits of Brand Loyalty
Keeping your existing customers happy and satisfied can be hard work, but your return customers should be on a solid foundation with the company. They deserve extra attention as they are the perfect audience to address.
If brands would devote more effort to their existing customer base, rather than on new sales, they would experience a committed customer following in the brand loyalty automotive industry.
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.