2 Automotive Dealership Retention Strategies for the New Year
Bringing customers into auto dealerships is never an easy task. Companies spend time, money, and effort on creating new customers. They sometimes forget to tend to another key aspect – customer retention. Having loyal customers not only benefits your auto dealership’s profits, but also brings in new customers. They will tell their friends, family, and even strangers about the great service and benefits of shopping at their favorite dealership.
Here’s two strategies for getting referrals from your loyal customers:
Prepay for Future Maintenance
Auto repairs can come at the worst time for some. Creating a prepaid maintenance program will enable customers to add any future maintenance costs on to their next monthly bill. The program will also keep them coming back to the dealership who knows their car well for maintenance and repairs.
According to a recent study, about 18% of car buyers will have their vehicle maintenance at the dealership they purchased it from if it is an option. This program increases profits for the service department along with sales if the customer finds themselves needing to purchase a new car.
Create a Loyalty Program
Revenue can be boosted 5 to 10 percent when using a loyalty program. Customers are likely to spend more if they are part of a loyalty program due to the perks and possible benefits. By offering rebate points and rewards, your auto dealership creates incentives for customers. The rewards also invites them to return to your dealership.
Automotive dealership customer retention programs are available through AutoAwards. We offer real time data reporting, goal assessment, bench marking, and turn-key support. We will guide you through the planning of your personal automotive dealership customer retention program to ensure the success of repeat business.
To get started with your loyalty rewards program, contact AutoAwards at (302) 696-6000 or contact us to schedule a consultation.
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.