Sharpen Your Dealership Loyalty Program for 2019
Every business needs a loyalty rewards program that is tailored to their customers. Really, it’s the least you can do to thank people for choosing your dealership. B2B businesses used to think that they didn’t need customer loyalty programs – those were for retailers and service companies with notoriously fickle shoppers. But B2B customers are “consumers,” too.
The folks who do business with your construction equipment or truck dealership expect the same personalized treatment and perks as they get from their favorite stores.
Still, it’s not quite the same
You can’t very well feature BOGO deals – buy-one-get-one-free on new trucks or graders would put your dealership out of business in a heartbeat. To achieve the goals you have in mind – long-lasting relationships that result in higher sales – you need rewards and a structure that make sense for your dealership and, even more importantly, offer relevant rewards that your customers want and need.
Done right, your rewards programs will strengthen relationships with your top tier customers, attract new customers, and encourage existing customers at greater “flight risk” to stick with your dealership long into the future.
Financial incentives and exclusive perks make good rewards – who doesn’t want to save money or get something for free? But the most successful programs ensure customers have an exceptional overall experience in every way. If you have what they want and need, and they love working with you, why would they even be tempted to look elsewhere?
What’s trending with B2B loyalty programs for 2019? Let’s take a look.
Deeper customer understanding through active listening
Perhaps the biggest factor in loyalty program success is relevance. To ensure your rewards continue to be meaningful and valuable:
- Ask them what they want. Top tier customers and current “flight risk” customers may give you somewhat different answers, but that’s the kind of information you need. Use email or social media surveys and in-person chats to delve deeper.
- Review your marketing personas with loyalty in mind. What will keep customers in each of these key target segments coming back?
Your loyalty program has the potential to convert more leads into customers as well as retain existing customers – but only if they know about it. Are you spreading the word effectively? “One and done” doesn’t cut it, because people are busy. They forget.
- Publish general reminders on your website, and in your social posts, with a call-to-action button. Are you signed up yet?
- Alert rewards members when they’re nearing a redemption threshold.
- Create short customer testimonial videos. “This couldn’t have come at a better time for our construction firm!”
Seamless, consistent experience, online and off
Securing lasting customer loyalty requires more than a list of incentives. Every time your dealership saves a customer time, you’re showing you understand their most basic needs. Successful dealers are doing everything they can to integrate online, self-service options such as fast, simple click-to-order (or reorder) for parts or to schedule service.
But you can get even more creative. For instance, here at ADI Agency, we offer a variety of extended warranty options dealers can use to boost their customers’ experience. Selling the warranties adds a revenue stream for dealers. Customers get immediate convenience, but they also get ongoing benefits, because the proprietary software associated with the warranty provides easy, cloud-based storage and access for all their equipment warranty data. This program integrates customers, the dealer, and OEMs to streamline warranty-related communication.
(Want to know more about that? Give us a call, or drop us an email.)
Loyalty Bound pulls it all together
Because it’s critical that B2B companies develop a rewards program that reflects their industry as well as their customers, ADI has created a platform specifically for construction equipment and trucking dealerships. It’s absolutely relevant because it was born of our dual experience in dealership management and the insurance industry. We know first-hand what dealers and their customers want and need to thrive in a fiercely competitive marketplace. And just how a rewards program can help make that happen.
(Want to know more about that, too? Give us a call, or drop us an email.)
Loyalty programs that work in 2019 are those that focus on delivering an all-around excellent customer experience. Just how you combine incentives and gifts with gestures of appreciation will depend on your dealership and your customers. But the more personal the specifics of your program, the more successful it will be.