How Truck and Equipment Dealers can Increase Profits and Customers
Truck and Equipment Dealers have faced challenging times in the past few years, the worst most have ever seen. Times are starting to appear better but how can dealers make sure that they are prepared for the next downturn? We suggest that a Customized Dealer Branded Customer Loyalty Program is the answer. Being pro-active rather than re-active will be the key to remaining successful.
What is a Customized Dealer Branded Program? 
It is a solution platform for dealers that assists them in increasing service absorption, increasing customer loyalty and retention, reducing advertising costs concurrent with improving financial performance and improving long-term stability for your dealership.
Why a Rewards Program?
For starters these types of programs have been extremely successful in other industries especially when analyzing customer retention strategies. Banks, airlines, supermarkets, and telecom companies have been happily rewarding customers for their continued patronage. Loyalty is a powerful profit generator because loyal customers tend to spend more, refer others and cost less to serve. How many times have you heard it costs several times more to attract a new customer than keep an existing one?
True customer retention is defined as:
- The customer buying a vehicle from the dealership
- Performing all maintenance and services with the dealership
- Referring others to the dealership
- Repeat vehicle sales
What should you look for in a Rewards Program?
- An automated prorgam that interfaces directly with the dealerships DMS that requires no additional equipment
- Install a dollars program not a points- point platforms can be confusing and smoke and mirrors where as a dollar platform keeps it simple and teh customer can see the benefit of doing business NOW
- A web based system where customers can check their balances online anytime
Why Now?
Every month that goes by without a motivation for your customer to come back to your dealership, you are losing customers to aftermarket shops or DIY. It assits in protecting you and your assets during a reccession and inflationary period. It is know that a rewards customers spend an average of 27-35% more. Start protecting your greatest asset- YOUR CUSTOMER.
