3 Types of Loyalty Programs for Your Auto Dealership
According to some statistics, it’s easier to sell to a current consumer than to attract a new one. Also, existing customers spend twice as much as new ones. Marketers who are conscious about such statistics use loyalty programs for their businesses. A loyalty program entails rewarding those who frequently buy from your store. Through this program, companies provide their customers with coupons, unreleased products or freebies. Below are some great loyalty programs for your business.
The Simple Point System
In this program, loyal customers accumulate points every time they shop at your store. They can redeem the points for anything, including special treatment, discounts and free merchandise. To succeed with this program, you need to simplify everything about it. Customers don’t like doing complicated conversions for the sake of a reward.
Charging for VIP Benefits
Although loyalty programs are about giving to the consumer for shopping, it’s a good idea to charge a one-time fee for VIP membership. Large companies like Amazon use this type of program to enhance their customer service. The aim of this VIP program is to make shopping hassle-free for the members. So, you’re rewarding your consumers through a smooth customer experience.
This customer loyalty program requires you to partner with another firm. It can help you retain your clients as well as grow your business. Before partnering with any company, you’ll have to know what your customers need. Look for a firm that matches what you’re offering at your store. Some businesses offer great rewards through dealer branded loyalty programs, which may help you impress your consumers in the long run.
You can use many other loyalty programs for your business. The main idea is to ensure that you customers get value for frequently shopping at your store. To learn more about customer reward programs like dealer branded loyalty programs, be sure to consult Auto Awards.
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.