Customer Loyalty: What It Is & Why It’s Important

By Editor
in
Driving Retention Blog
May 23, 2018

The National Business Research Institute (NBRI) recently published an infographic detailing why customer loyalty is important, what customer loyalty is, the problem or disconnect between businesses and their customers, the solution for improving customer loyalty and the future of “customer delight.” “Customers are a business’ most important asset, without them the business wouldn’t exist. So it’s imperative to keep these customers happy and improve[…]

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Real Results: How Did Bristol Toyota Scion Create a Valentine’s Day Email Campaign with a 58% Open Rate?

By Editor
in
Driving Retention Blog
May 21, 2018

Everyone knows Valentine’s Day celebrates the ladies. That’s why Bristol Toyota Scion in Bristol, Rhode Island, recently used its points-based service rewards program, to conduct an email campaign centered on Valentine’s Day being “Ladies’ Day.” Colorful, Valentine’s-themed emails were sent to all of their service reward members, with the subject line, “Be Our Valentine – View Your Gift Inside.”[…]

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Real Results: Clever iPad Promotion & New UltraCare PPM Program Helps Hare Chevrolet Crush Aftermarket Service Shop Competition

By Editor
in
Driving Retention Blog
May 16, 2018

I have been doing regular blogs about successful promotions in dealerships that come to my attention. In this blog I wanted to let you know about a prepaid maintenance (PPM) plan promotion that was extremely successful at Hare Chevrolet. Hare Chevrolet has improved customer retentionand increased its customer-pay RO count by 12% since instituting a dealer-branded prepaid maintenance program[…]

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In the News: Employee Perks Good for Employers, Too, Study Suggests

By Editor
in
Driving Retention Blog
May 14, 2018

Companies that provide employees with generous benefits, including contributing more to retirement funds and absorbing health insurance hikes, are often financially healthier because of it. A study released Wednesday found employers that offered substantial programs focused on the long-term financial health of their workers saw a host of business dividends as a result, everything from lower[…]

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15 Things Good Loyalty Programs Do To Create Business Growth

By Editor
in
Driving Retention Blog
May 11, 2018

Many of the so-called loyalty programs in operation today don’t really develop loyal customers at all; rather, they create “frequent” customers. Loyal customers do more than just visit your business more frequently than other customers; they are your businesses’ best marketing tool and your biggest fans! They want your business to do well, and they ensure that you’re[…]

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Loyalty Countdown #2 – Practice the 80/20 Rule

By Editor
in
Driving Retention Blog
May 04, 2018

In building customer loyalty, the 80/20 rule is alive and well. Roughly speaking, 80 percent of your revenue is being generated by 20 percent of your customers. All customers are not created equal. Some represent more long-term value to your firm than others. A smart company segments customers by value and monitors activities closely to ensure high value customers get their[…]

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Loyalty Countdown #1 – Build Staff Loyalty

By Editor
in
Driving Retention Blog
May 04, 2018

It’s a fact: any firm with a high level of customer loyalty has also earned a high level of staff loyalty. It’s darn near impossible to build strong customer loyalty with a staff that is in constant turnover. Why? Because customers buy relationships and familiarity. They want to buy from people who know them and their preferences. The key[…]

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Loyalty Countdown #3 – Know Your Loyalty Stages & Ensure Your Customers Are Moving Through Them

By Editor
in
Driving Retention Blog
May 02, 2018

A customer becomes loyal to a company and its products and service on step at a time. By understanding the customer’s current loyalty stage, you can better determine what’s necessary to move that customer to the next level of loyalty. Our “Growing Loyal Customers” system comprises six stages: suspect, prospect, first-time customer, repeat customer, client and[…]

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Loyalty Countdown #4 – Serve First; Sell Second

By Editor
in
Driving Retention Blog
Apr 30, 2018

Today’s customers are smarter, better informed and more intolerant of being “sold” than ever before. They expect doing business with you to be as hassle-free and gratifying for them as possible. When they experience good service elsewhere, they bring an if-they-can-do-it-why-can’t-you? attitude to their next transaction with you. They believe you earn their business with service[…]

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Loyalty Countdown #6 – Get Responsive & Stay That Way

By Editor
in
Driving Retention Blog
Apr 27, 2018

Research shows that responsiveness is closely tied to a customer’s perception of good service. The advent of the internet, particularly social media platforms, has changed the customer’s perception of responsiveness. More and more, customers are coming to expect round-the-clock customer service. Additionally, customers now arrive at a website time-starved and eager to locate answers. Technology tools such as[…]

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