The Top 3 Principles of an Auto Dealership Rewards Program
In the field of business, loyalty is an important part of establishing a firm customer base. In the specific area of selling vehicles, an auto dealership rewards program can be an important part of maintaining a healthy business. This is because repeat customers purchase nearly 30 percent more items in each of their orders than those shopping for the first time.
Additionally, the revenues generated by repeat customers range from three to as much as seven times that of first-time buyers. It is important to understand the basics of an auto dealership rewards program and what can be done to make them effective.
Defining a Loyalty Rewards Program
According to the website Customersthatstick.com, this involves a system of structured rewards that are usually made in exchange for a certain behavior on the part of customers. Any program will use the principles of commitment, reciprocity and loss aversion.
Making the Program Work
Auto dealerships that employ in-store marketing techniques, newsletters and even social media will have an advantage in engaging their customers and encouraging ongoing relationships. Here are some other methods that AutoAwards has proven work time and again:
- Using a point system for customers who return for maintenance or other services
- Rewarding customers on special occasions, including birthdays and holidays
- Giving repeat customers priorities when trying out new services or vehicles
- Coordinating with other businesses in the community in offering special perks
Organizing the Program
An auto dealership rewards program does not have to be complicated, but it still needs to be properly planned and implemented. Customers should be clear about how the program works and what it can do for them. Customers who benefit from any program will be of great benefit to the dealership that serves them.
Contact AutoAwards today for a consultation to start your auto dealership loyalty program at 302-696-6000.
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.