How Using Loyalty Offers Grows Your Vehicle Dealership
We are all aware that the expense of gaining a new client is steeper than retaining an existing one- it is almost five times higher. This significant statistic demonstrates the essence of maintaining a long-term client. A loyal client is a regular visitor, spends more often than other buyers, and provides great reviews and feedback regarding a dealership’s products or services. A loyal customer also refers a dealership to their family and friends.
What is The Concept Behind Loyalty Awards?
Building a strong relationship based on respect and trust with existing clients through value-added offerings such as loyalty awards affords one the chance to boost profits from people they are familiar with. Car loyalty programs that focus on retaining buyers provide an opportunity for entrepreneurs to solidify their relationship with customers.
What Should You Consider Before Adopting a Loyalty Award?
Before dealers implement loyalty grants, there are factors that need to be considered. Most importantly, dealers need to determine how a loyalty offer will affect customer relationships and sales. To be effective, loyalty offers need to pay attention to the buyer’s experience and customer service.
How Can Clients Benefit From Loyalty Offers?
Loyalty program clients can gain reward points by referring new customers, visiting service departments, posting online reviews, and through vehicle purchases. The clients can redeem the points to eat at a local restaurant, enjoy themselves at entertainment joints, make a new purchase, or towards servicing their vehicles.
A dealer can use loyalty offers to grow a client base that will use their personalized offers. These customers will be eager to earn points from purchases and will frequent the dealership with the aim of increasing and redeeming their points.
The Take Away
Many people in the motor vehicle market have embraced loyalty programs to expand their client base and maximize their profits. To make the most of loyalty programs, consult Auto Awards to experience the impact it will have on the growth and development of your business.
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.