3 Ways to Increase Customer Loyalty at Your Equipment Dealership
Nobody has to remind you that customer retention is even more important for your equipment dealership than attracting new customers. But are you doing everything you can to earn that all-important customer loyalty? It’s an ongoing process, not a one-and-done kind of thing.
Here are three ways you can establish and strengthen customer loyalty at your equipment dealership.
- Personalize your relationships
People like to do business with people they like. That said, there’s more your equipment dealership team can do to foster and nurture relationships beyond being nice. Make an effort to learn more about their business – the kind of work they do (or prefer), typical jobsite challenges, etc. Make an effort to learn more about the players personally, too. It’s not nosy to ask about their family or hobbies. You may be surprised to learn how much you have in common.
Touch points build trust as well as camaraderie. And when you understand their business needs and wants, you’re in a better position to make valuable recommendations. That cements your relationship as a working partner and resource, not just another sales yard.
- Target your marketing content
You can’t expect customers to become loyal if they don’t see you as relevant. In fact, you can’t expect to attract them in the first place if you aren’t relevant. Your equipment dealership has several key target audience segments such as:
- Sales of new or used equipment
- Parts and accessories
- Body work
Each category has distinct needs. The more your content directly addresses those specific needs, the more useful your dealership becomes. The relevance factor applies to all of your marketing efforts, online and offline, but take special care to be sure your website content and social media interactions are well-targeted.
- Play by the Golden and Platinum Rules
We all learned the Golden Rule as a playground maxim when we were kids. But it’s equally important in business. You know how you want to be treated, so turn that around for your customers. Honesty and integrity are must-haves if your equipment dealership’s brand is to outshine the competition, let alone build customer loyalty.
Never heard of the Platinum Rule? It’s a modern-day maxim promoted originally by Google. The premise is that you should always communicate with prospects and customers in the way they prefer, not whatever you prefer. That might be via phone, email, social media, etc. customers today expect personalized service, and communicating their way shows your dealership is anxious to tailor their experience.
Customer loyalty benefits your equipment dealership in multiple ways
- Loyal customers return to buy from you again – when they need new or used equipment or any one of your other services. In effect, they represent virtually every one of your target audience segments. The more they spend, the higher their customer lifetime value for your dealership.
- Studies show that loyal customers not only buy more from you, they’re likely to spend more per purchase, too. That fact has different ramifications for a clothing store or grocer than for your equipment dealership, but the underlying premise is the same. Repeat customers not only like you, they trust you. When you advise them that a higher-priced machine or a new attachment will be good for their business, they know you have their best business interests in mind.
- Loyal customers spread the word about your dealership and their exceptional experience working with you. They talk to people in person, and they share and comment on social media. The value is incalculable, but you can take it to the bank.
With all that in mind, it’s easy to see why you should redouble (or rekindle) your efforts to increase customer loyalty at your equipment dealership. Following these three tips is a great place to start.