Building lifetime customer loyalty is the primary purpose behind any good rewards program. The points should be easy to earn and be redeemable for a variety of rewards – rewards that are valuable to your customers. Members should be recognized and treated as if they were the most important customers out there – because the[…]
There are countless opportunities for participating in customer loyalty programs. When merchants reward their customers for purchasing from them, they gain a positive reputation and endless customer retention. Loyalty programs are powerful customer retention tools, altering consumers’ perspective of businesses they consider buying from. Well-organized and marketed loyalty programs reveal the value a business offers[…]
Times are changing, and so are consumer desires. What hasn’t changed are the fundamental business practices leading to customer loyalty for hundreds of years. Small shop owners in the early 1900’s kept customers coming back with friendly and familiar customer service. Today, customers seek convenience, above all. That is why businesses work harder to create[…]
Customers will exhibit various versions of customer loyalty depending on their buying habits. Whether we are playing the role of retailer or the role of the consumer, we understand this foundational principle. It is, in many ways, the basis for the dealer’s desire to understand our clientele. Understanding individuals’ buying habits helps us become better[…]
Customer loyalty programs are indisputably a staple in businesses. Many retailers have them and consumers have come to expect them. The problem is that most retailers view rewards programs as an expense, rather than a way of revenue. There are discounts, among other things that come along with rewards programs, and these are the “expenses”[…]
The automotive industry has been in constant flux. New technologies have exploded onto the scene with electric vehicles, autonomous vehicles, and assistive tools. Include the challenges that Covid-19 has created and many dealers have had to adopt a whole new way doing business and that includes new ways to build dealership loyalty. In addition, consumer[…]
In today’s retail automotive climate, customers have more access to information than ever before. Quite often, a properly prepared and researched customer comes into the dealership armed with more knowledge than the salesperson. This can cause friction, as the customer often interprets the salesperson as deceptive. But in reality, the salesperson may simply not have[…]
Earning true customer loyalty is a process and it takes a fair amount of time. Some results are not apparent for months and many times it requires internal business process changes, as well as complete culture changes – initiated at the highest leadership levels. A study by the Temkin Group explains that many executives mistakenly[…]
Dealership prepaid maintenance pricing is so important that it may be the single biggest factor between success and failure. Many F&I managers mark up their prepaid maintenance plans because they are commissioned on the gross of the aftermarket product sales. Over pricing for the sake of getting a few “hole in one” deals could be[…]
Service departments are finally receiving credit for contributing to the growth and profit of dealerships and establishing a prepaid maintenance program (PMP) is one of their best kept secrets to overall success. It is well established that most PPM is being sold in the F & I department. But is that the only place they[…]