Auto retailers that use a third-party loyalty program can achieve significant retention increases of 20 percent and more, according to findings presented in a new white paper from MediaTrac, a U.S.-based marketing technology company.
MediaTrac released their free Auto Retailer’s Ultimate How to Guide that explores customer loyalty and retention programs, set up, management and measurement.
The company says the new white paper is a best practices guide to help auto dealers achieve such retention increases using loyalty and retention marketing. A PDF copy can be downloaded for free from the company’s website www.media-trac.com/ or at DrivingRetention.com.
“We had such an overwhelming response to our last white paper, Driving Optimum Customer Retention and Profitability with an Effective Loyalty Program that we decided we needed to release a follow up that went more into the nuts and bolts of loyalty program planning and execution,” said Michael Gorun, Managing Partner at MediaTrac. “Well-organized, administered and marketed loyalty programs create a higher perceived and real value in a business. This earned loyalty builds longer-lasting relationships that convert to sustainable, repeatable business opportunities.”
The Auto Retailer’s Ultimate ‘How-to’ Guide to Customer Loyalty & Retention Program Set Up reveals how auto retailers using a third-party loyalty program can achieve significant results, including:
* Retention increases of 20 percent and more;
* 50 percent return rate from customers engaged in the dealership’s loyalty program; and
* Increases of 0.5 hours per RO from repeating customers.
The company says that despite the success of these program, almost three-quarters of U.S. dealers are reluctant to adopt a loyalty program.