Automotive industry marketing experts share loyalty info
Loyalty Programs: a Must in 2016
“Every activation, tactic, and campaign at every consumer touchpoint is either building brand loyalty or eroding it. Consumers rarely, if ever, feel completely neutral and, if they do, that too is not a good thing.” (Retail Loyalty)
The world has gotten to be a more competitive place as consumers have more access to and options of what to buy. So, acknowledging the importance of customer loyalty is crucial in today’s business environment. If there was a time that wasn’t so . . . it’s definitely in the past.
You know it costs significantly more to gain a new customer versus retaining a current one. Studies vary in specifics, but typically show that it’s five to seven times MORE expensive when you need to earn the business of a new customer. That’s the scary news. The good news is that “62 percent of customer defections can be modified if discovered in advance.” And, how do you discover it? Well, here’s a big red flag: “68 percent of customer defections occur because customers perceive ‘an attitude of indifference.’”
Here are more statistics to consider:
- When offering products to an existing customer, you have an average of 60 to 70 percent of success.
- When offering products to a new customer, the chance of success plunges to 5 to 20 percent.
So, it clearly makes sense for your dealership to have an automotive brand loyalty program. Besides making sense from your perspective, here’s another point of view: customers demand loyalty programs. They want companies they interact with, including their car dealerships, to value their patronage in tangible ways. In fact, a staggering 87 percent of shoppers say they want loyalty programs. And one third of consumers (34 percent) go one step further, saying they wouldn’t be loyal to your brand without a program. If you are not rewarding them, these customers are likely to move on to your competitor.
Automotive Industry Marketing Experts
When you’re considering the value of a loyalty program in your marketing strategy, who you partner with matters. You want a company that is knowledgeable in not only loyalty program marketing but also the automotive industry. AutoAwards is an expert in automotive industry marketing, providing your company with the tools you need to grow your bottom line, giving you an edge over your competition. Our customizable, incentive-based automotive brand loyalty programs will bring your customers back again and again.
You can reward valuable customers with exclusive rebate points they can apply to their next purchase or with gift certificates, prepaid maintenance services, and much more. When you team up with us at AutoAwards, we will design a program that fits your needs, your particular market, and your budget.
What are you waiting for? Contact us online to discuss automotive brand loyalty strategies that will make this year your best ever! Or call 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.