3 Benefits of Auto Dealership Customer Retention to Increase Sales
Many dealers ignore the importance of retaining their past customers and focus on acquiring new buyers. They will claim to employ measures of keeping their clients, whereas the size of the dollar allocated towards marketing to existing clients is less than or nonexistent in comparison.
In reality, auto dealership customer retention is equal to more important than getting new customers. If your auto dealership creates trust and improves the process of engaging existing customers, you will have a customer for life. The lifetime value of a customer can be 5x the value of a one-time customer. Also, customer retention increases your chances of getting new buyers through referrals.
Creating Customer Loyalty
The best way to create customer loyalty is with a rewards program. A branded auto dealership rewards program retains customers and builds trust with them. By offering service with rewards incentives, customers will build a relationship with your dealership over time.
A previous customer is more likely to contact you than a new one when they need a new car or have questions about their existing one. With ongoing maintenance and service on their vehicle, current customers see your staff as the experts. A rewards program can include rewards for a prepaid maintenance program, a strategy you may use to gain customer loyalty over a competitor.
AutoAwards’ innovative, proven rewards programs retain buyers by getting to know them. Using CRM software, it becomes easier to win loyalty with customers through ongoing communication.
Having a rewards strategy for auto dealership customer retention increases referrals from your existing customers. It can be a cost-effective way to earn more customers. Additionally, a loyal customer will always point their friends, family, and peers to your dealership to buy their next car.
Start Building Your Auto Dealership’s Loyalty Program
Retaining buyers is beneficial in different ways. Some of these ways include saving time and budget on gaining new clients, building customer trust, improving retention, and winning clients through referrals.
AutoAwards’ proven loyalty rewards programs, service plans, and loyalty-focused marketing campaigns will benefit your auto dealership. Create a lasting win-win dealer-to-customer relationship. Call AutoAwards 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.