Customer retention is every dealership’s goal, but few have mastered a practical way to accomplish it. And that’s for a variety of reasons that have to do with modern customers and modern dealerships. Modern customers have many options for products and services besides your dealership, and it’s easy for them to be choosy. Modern dealerships have specific sales figures to hit; getting a sale from one customer takes effort enough. Getting a lifetime of sales from one customer can seem lofty and unlikely. Yet retention remains the surest way to drive sustainable revenue. Which brings us back to the question of how you can achieve it. The most practical and effective way to make customer retention a reality in your dealership is through loyalty programs. Loyalty programs allow dealers to make personalized connections with customers, build relationships that last, and boost overall retention metrics — assuming the programs are easy to execute without draining too much of your sales team’s time, and easy for your customers to take advantage of. Just one challenge remains: staying top-of-mind. When every customer has so many brands and so many options in front of them all the time, how do you make sure yours is the one that comes to mind when they’re ready to settle down with a consistent provider?
This white paper explains:
- Why customer retention is so challenging
- How loyalty programs help dealers stay top-of-mind with their customers
- What types of customer loyalty programs make the most sense for today’s dealers — and their pros and cons
- How to execute the right loyalty program for your dealership, and use the new insights you gain to convince customers to repurchase
