Customer Retention and Loyalty

Robert Silcox
I am currently in a High-Line Mercedes Benz Dealership....There is a lot of Buzzz about Owner Loyalty and Retention. How does everybody feel? In today’s Business Climate does the High-End Customer that has disposal income are they looking for a deal or just spending monies as usual. Is anyone using or have a great way to drive retention and loyalty. I know there are a lot of programs out there for loyalty cards, points cards, etc. but does anybody have or use something special that they thinks works great and would like to share the idea?? Thanking you in advance for any and all ideas.....Bob Silcox
Steve Devereaux
GM offers a customer preferred program... Basically like a loyalty card. A lot of dealerships went on it and use it, however we did not. Our strategy is to keep our prices low in general and it's a lot simpler too because we don't have to manage that money. It is good to incourage customers to return to you for business, whether if it's a oil change punch card or free inspections for life... Things along those lines are good. I'm not wild about customer loyalty cards because I personally don't like them in general. You always pay for it anyway and you usaually are paying a premium to carry another card on your key chain. I follow Walmart's approach.
Mike Gorun
Robert, loyalty programs do work if properly implemented. Check with folks over at Boulder Nissan thay have have one for many years. There is a difference between luxury customers and the non-luxury buyer but there are alot of folks with high disposable income that like the VIP or preferred treatment that a well desinged loyalty program provides. Look what the casinos and American Express have been doing for years for their platimum members. Bottom line is if your customers feel like they are recieving value and prestige from your program you will see changes in their purchase behavior which will diffentalty equate to an increase in customer visitation and higer spend.

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