What is the #1 Way to Increase Customer Retention for Auto Dealerships?
Automotive dealership customer retention used to be easier. Most dealerships had a service department and would continue to work with customers long after the point of purchase. But with the competition in the industry today, it can be 6-10 times more expensive to bring in new customers than to retain existing ones. Instead of letting customer retention fall by the wayside, auto dealerships have a secret weapon to build loyalty and retention. Here’s one way to increase customer retention.
The time has come for dealerships to develop better understanding of their customers and their customers’ needs, to create better rapport, and to deliver the deals that will keep them coming back. A well-executed loyalty program can boost revenue by 5%-10%. Members can be expected to spend 5%-20% more than non-members.
AutoAwards has been designing customized automotive dealership customer retention programs since 1991. We collect accurate and up-to-date customer data to help dealers find innovative ways to keep customers coming back and use this information to personalize contact with customers. Our programs help dealers build solid, long-term relationships with clients by offering incentives on maintenance and upgrades.
#1 Way to Build Loyalty
Personalizing contact through emails to customers is one of the ways to increase loyalty. When a customer feels as if the dealership knows and listens to them, it opens and keeps the conversation going.
A lot of customers feel as if digital media and communication has contributed to the loss of a unique relationship between them and the dealership. With targeted eCommunication, as we call it, your dealership can bridge the gap and engage your customers in email and social media. It’s efficient and effective.
Not All Alike
Not all loyalty programs are built the same. Not all succeed in keeping customers coming back, because not all are able to make the customer feel connected. Dealers must make retention a habit, not just an act. They must carefully monitor every interaction they have with a current customer, because everything they say and do will determine whether today’s customer sticks around tomorrow. Feel free to contact us at 302-696-6000 for a free consultation, so we can help you help them.
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.