Companies increasingly invent new and creative ways to earn loyalty from their customers. Every year we hear of companies pulling off interesting and creative ways to gain exposure and foster loyalty through acts of kindness, goodwill or just being fun. For the fourth consecutive year, Uber became the ice cream man. It seems that every[…]
A recent study by the Tempkin Group found that it takes an average of five clients giving positive referrals for your business in order to get one new client. Yet it takes only two disgruntled customers speaking negatively about your business for you to lose one customer. You do the math…that means it’s twice as important to[…]
If you were to ask today’s consumers if they’d like to hang out at a car dealership, chances are that the majority would respond “no.” When consumers do visit a dealership to purchase a vehicle or get their vehicle serviced, many times the process can be longer than desired and is not always a great[…]
Dealers using loyalty programs or prepaid maintenance (PPM) programs designed specifically for their dealership’s client demographics and geographic location enjoy significantly higher levels of customer retention and service up-sell. In addition to an increased program ROI, dealerships that utilize a personal dealer-branded PPM see continual increases in vehicle repurchase intent. In fact, because these plans are captive service[…]
A dealer in Washington state has taken a highly unusual – and unheard of – path to customer retention and loyalty. According to Automotive News, Denver Morford, dealer principal at Barry Chrysler-Dodge-Jeep-Ram in Ephrata, Wash., doesn’t believe in dealer reserve. Not only does he not believe in it but he also educates his customers during the[…]
With brand loyalty at its highest point ever, it’s time to take a new look at customer loyalty within your own dealership. According to IHS Automotive, as of the first quarter 2015, the automotive industry is sitting on a ten-year high of 52.8 percent in brand loyalty – mostly attributed to an increased diversity in[…]
According to an article in Automotive News, one dealer in Illinois has come up with a pretty ingenious loyalty rewards program idea – to leverage taxpayer dollars to increase car sales, while also helping to support local businesses. Glenn Bockwinkel, President of Acura of Libertyville, approached the mayor of his local town and proposed an idea that[…]