Customer Loyalty and the Right Fit For You: Retaining Customer Loyalty After the Initial Buzz Has Faded
According to General Motors, a company’s profit is still tied to keeping their loyal customers, even after the sparkle and sizzle fades. Studies show that customers get restless over a brand after the first 3 years. As an automotive dealership, you need to keep your customers loyal or they will be a prime target for the competition. One way to do that is to create a rewards program.
Why Create an Automotive Dealer Rewards Program?
An AutoAwards Retention Program keeps the buzz alive. Customers spend more money as a member when compared to non-members. A loyalty rewards program will encourage the customer to come back. Members of the program save on each visit to the dealership for maintenance, repair, or other service, which compels them naturally to come back for these services.
How Does A Loyalty Rewards Program Work?
Find your target niche market. There’s a few different needs a current customer has that you can fill.
- One is a customer who is buying a new car from your dealership.
- Customers who are close to completing a financial agreement, lease, or trade up can also benefit from being a member of the rewards program.
- Customers who are near the end of their OEM warranty may finally want to join the rewards program when they have scheduled maintenance and repairs.
- Customers who come to you to drive the new models and look at taking out a lease would also benefit from being a member of the rewards program.
Discuss the benefits with your customers about joining a rewards program. Joining a rewards program is a very easy sell to customers.
Learn more about how AutoAwards’ Customer Loyalty Program and their automotive marketing services can benefit your dealership.
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.