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All ADM Blog Posts Tagged 'programs' (29)

Am I Really A VIP?

I had just finished reading this article on marketsoft.com about customer loyalty, when a business associate told me about a similar situation that happened to him. In his mailbox was a glossy, oversized postcard offering a…

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Added by Mike Gorun on October 17, 2014 at 6:00am — No Comments

Rewarding the Four Percent: Delta’s New Loyalty Strategy

Delta Airlines recently revamped its loyalty program changing how rewards are distributed to its customers.  In an article in Knowledge@Wharton, Peter Fader, Wharton Marketing Professor, applied the…

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Added by Mike Gorun on March 25, 2014 at 7:31am — 1 Comment

Do Loyalty Programs Pay Off?

In a world filled with loyalty programs, it’s always interesting when I talk to a dealership that harbors doubts. The cost involved in having a loyalty program is minimal compared to the revenue generated. However, at times it seems as if dealers are intimidated by the effort it would take to…

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Added by Mike Gorun on March 18, 2014 at 7:30am — No Comments

Stop Thinking in Third Person

Dealerships today are continuously seeking new ways to acquire new customers. Endless services and platforms pop up almost daily that offer businesses new ways to reach out to the world and attract new customers – whether that’s through online media, social media platforms, mobile ads or database mining.…

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Added by Mike Gorun on February 4, 2014 at 1:06pm — No Comments

Choosing How to Reward Your Customers Wisely

Oftentimes, businesses adopt a rewards program to thank their frequent customers and to encourage and increase the likelihood that they will return. While these are both excellent reasons to have a rewards program, a business must carefully consider how to structure the program and what to offer to not…

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Added by Mike Gorun on January 21, 2014 at 6:30am — No Comments

Solving the Puzzle of Customer Loyalty: A Holistic Explanation

I’ve written many articles about the different types of loyalty and how each can affect your business’ growth and revenue. However, I’ve never written an overview of how all these components fit together in a holistic manner. Hopefully, this blog article will help put the pieces together…

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Added by Mike Gorun on November 12, 2013 at 5:30am — No Comments

How Rewards Become Chores

There are many benefits to having an automotive loyalty program at your dealership to increase business and customer retention. You must be mindful, however, of some dangers that exist if the program is not implemented and administered properly.

 

Loyalty programs seek to reward behaviors. For…

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Added by Mike Gorun on September 3, 2013 at 5:12am — No Comments

Want A Free Ferrari, Buy Some Pizzas

Sounds ridiculous, right? It’s real, however. A case study involving a pizza joint in New York has shown that offering ridiculous rewards can pay off. This particular pizza joint has several…

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Added by sara callahan on June 26, 2013 at 6:08am — No Comments

One Simple Question That Can Help You Drive Loyalty

I recently read an article about a recent Forrester Report titled “Banks and Retailers: You Cannot Price…

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Added by Mike Gorun on June 4, 2013 at 7:18am — No Comments

Five Keys to Increasing Customer Retention at Your Dealership

Dealerships today spend most of their marketing budgets on acquiring new customers. Those ads in the newspapers aren’t really meant for current of past customers, they are meant to attract new customers. The cost of customer acquisition ranges from…

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Added by Mike Gorun on May 14, 2013 at 4:43am — No Comments

What Are Communication Ad Extensions?

Added by Paul Potratz on February 20, 2013 at 7:18am — No Comments

Why You Must Have a System for Resolving Customer Complaints

A recent study by the Tempkin Group found that it takes an average of five clients giving positive referrals for your business in order to get one new client. Yet it takes only two disgruntled customers speaking negatively about your business for you to lose one customer.

You do the math...that means it’s twice as important to ensure that you don’t have unhappy customers than it is to maintain good relations with your happy customers. This doesn’t mean you shouldn’t focus on…

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Added by Mike Gorun on December 11, 2012 at 9:54am — No Comments

Make Your VIPs Feel Special with a Customer Appreciation Event

You know who they are: your VIP customers. The ones who have purchased more than one vehicle from you and the ones who frequent your service department for their repair needs. What are you doing to show your appreciation for them this holiday season?

 

Call it a trend or a growing awareness that you can’t take loyal customers for granted, but more and more small businesses are showing their appreciation in the form of a party or other event that offers both fun and rewards to…

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Added by Mike Gorun on December 4, 2012 at 9:14am — No Comments

Are Your Loyalty Communications Aligned With Your Brand?

Whether your dealership has, or is considering a loyalty program, it’s important to make sure your marketing messages align with the overall brand or image of your store. What is your dealership known for? Aggressive, “best” pricing? Friendly, no-pressure salespeople? A multi-generation, family owned pillar of the community?

A brand is your identity’s business, and conjures up powerful images for customers, both consciously and subconsciously. Whether you realize it or not,…

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Added by Mike Gorun on November 27, 2012 at 10:17am — No Comments

Holidays Are a Great Time to Build Loyalty With Customers

It’s that time of year when giving takes priority over getting. Most dealerships I know are extremely generous when it comes to charitable causes, but there’s no need to be humble about it. The more you engage your customers in your holiday gift drives, the more you will be building loyalty with them.

In this recent…

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Added by Mike Gorun on November 19, 2012 at 10:08am — No Comments

Four Tips for Combating Loyalty Program Fatigue

How many cards do you have in your wallet? The average U.S. household now belongs to more than 18 loyalty programs, for a total of more than 2 billion memberships. That’s an awful lot of loyal customers, but as it turns out, all these programs and cards are having…

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Added by Mike Gorun on November 13, 2012 at 9:00am — No Comments

Why Intangible Rewards Can Sometimes Be More Valuable Than Dollars

What do you think would excite your customer more? A 15% discount on a tire rotation or being notified that they have been elevated to VIP status in your loyalty rewards program?

You may be surprised that just as many customers respond positively to intangible rewards, such…

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Added by Mike Gorun on October 16, 2012 at 8:30am — 5 Comments

GM Puts $4.2 Billion Price Tag on Customer Loyalty: What’s It Worth to Your Dealership?

General Motors recently announced a customer loyalty initiative to increase its customer retention rates from 52% to 58%. The car manufacturer has assigned a concrete value for every percentage point of improvement in customer retention rates: $700 million. If GM achieves their goal of 58% customer retention, it will add $4.2 billion in annual revenue to the bottom line.

Six percentage points may not sound like a lot, but 52% is the industry’s average and 58% would put GM in the same…

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Added by Mike Gorun on October 2, 2012 at 11:40am — No Comments

How to Turn an Angry Customer Into a Loyal One

It’s one of those unfortunate, inevitable facts of life: every company and every employee will at some point have to deal with an angry customer.

Whether their anger is warranted because of a bad situation, or whether the customer is just plain difficult, doesn’t matter. These days, companies must respond to and deal with angry customers. If they don’t, they risk those customers becoming brand detractors, using social media to spread the word,…

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Added by Mike Gorun on September 25, 2012 at 9:30am — 3 Comments

Don’t Just Acknowledge Complaints, Use Them to Improve!

Just about every business receives a complaint at some point or another. Whether it’s by phone, e-mail or via social media, when a customer is unhappy or feels they have been taken advantage of, they want to be heard. Most customer service people are…

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Added by Mike Gorun on September 18, 2012 at 9:30am — 1 Comment

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