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[…]
A recent article in Automotive News relayed the story of Obi Obeke and how he had sold 39 cars to world-famous boxer Floyd Mayweather. The article explains how Okeke has been willing to do whatever it takes for his client to keep him satisfied. There’s little doubt that Floyd Mayweather probably gets what he wants when he[…]
I recently had the pleasure to work with a very innovative dealer who implemented the concept of “dealer currency” in his dealership with great success. Dealer currency allows you to eliminate cash discounts on sales (in both Variable & Fixed Ops) by instead issuing a form of “dealer dollars,” redeemable anywhere in the dealership for the[…]
We all want new customers. And it’s certainly mandatory to retain a customer to create a loyal one. But how we market our dealerships is increasingly important — as each form of marketing will deliver different results. The three terms: loyalty, retention and acquisition marketing, all have their own distinct meanings and should be used[…]
New data from DMEautomotive reveals power of OEM/PPMs lasts well beyond expiration While most dealerships offer some degree of prepaid maintenance (PPM) or complimentary dealer and OEM maintenance plans, many question how effective these plans really are and if they do in fact provide the intended retention and ROI. Good news—research shows that they do and additionally[…]
The largest complaint that consumers have when considering a vehicle purchase is the fact that the process takes too long. Even with all the new technology processes that dealerships have employed over the past few years, the purchase process is still as long and cumbersome as it was twenty years ago. AutoNation recently started to[…]