Loyalty programs and cards
It may not sound like much but statistics constantly demonstrate the cost-effectiveness of building business from existing customers through loyalty cards.
Loyalty cards and programs don’t have to be elaborate or costly to be effective. With PPC’s simple equipment, you can produce your own cards that stay in customers’ wallets as a lasting reminder.
It’s then up to you what benefits you attach to those cards – discounted servicing, reciprocal benefits with local businesses, new model previews and special events.
Many car dealers hand out cards for roadside assistance but miss the opportunity to build customer loyalty for their own dealership – from the very beginning.
Worth thinking about...
- The probability of selling service to a new customer is 1 in 16, while the probability of selling service to a current customer is 1 in 21.
- A customer’s lifetime value to a car dealership is over $300,000 taking into account the number of new vehicles the customer will buy and the service fees they’ll pay! General Motors puts the figure at $400,000+!2
- Raising customer retention rates by 5% could increase the value of an average customer by 25-100%.3
