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Mike Gorun's Blog Posts Tagged 'rewards' (20)

Rewards Programs Mean More than Just Rewards

Rewards programs are indisputably a staple in common society. Most retailers have them and consumers have come to expect them.

 

The problem is that most retailers view rewards programs as an expense, rather than a revenue generator. Sure, there are discounts and other…

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Added by Mike Gorun on March 20, 2018 at 6:30am — No Comments

Wowing the Customer: Actions Speak Louder than Words

Occasionally, when creating a great customer experience a business will have to go above and beyond for its customers. These little WOW moments can easily take a repeat customer and make them loyal, or even take a loyal customer and make them into a brand advocate.

Author and thought-leader…

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Added by Mike Gorun on February 27, 2018 at 6:12am — No Comments

Why Consumers Are Navigating Away from Traditional Customer Service

In a very interesting dynamic shift, consumers are increasingly changing how they want to interact with businesses for customer…

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Added by Mike Gorun on January 30, 2018 at 6:00am — 1 Comment

Holidays are the Perfect Time to Nurture Loyalty

It’s beginning to look a lot like the…

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Added by Mike Gorun on October 31, 2017 at 6:30am — No Comments

The State of Customer Loyalty

Colloquy just came out with its…

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Added by Mike Gorun on July 25, 2017 at 6:54am — No Comments

How to Combat Loyalty Program Fatigue

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, all these programs and cards can have an unintended effect: customer loyalty fatigue.

 

Most consumers do still participate in their ‘favorite’ loyalty programs, and for many businesses, it’s a…

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Added by Mike Gorun on April 22, 2016 at 5:57am — No Comments

Loyalty Rewards: Not All Customers Deserve Them

Loyalty programs surround us. We live in a world filled with keychains on which multiple little plastic mini loyalty cards dangle. There aren’t many places where we spend our money that don’t offer a rewards program or, at the very least, track our purchases via a quasi-rewards program that only allows us to purchase items at the “loyalty” price, versus the…

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Added by Mike Gorun on October 13, 2015 at 5:30am — No Comments

Going Beyond All-You-Can-Eat In Loyalty

When consumers think of loyalty programs, they typically think of racking up miles, or frequenting a business in exchange for rewards, perks or freebies.

No matter what business you patronize, there is a good chance that it is offering some sort of loyalty incentive. In fact, many argue that loyalty programs are so…

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Added by Mike Gorun on October 24, 2014 at 5:30am — 2 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 concept of customer centricity in reviewing Delta’s current…

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Added by Mike Gorun on March 25, 2014 at 7:31am — 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 only promote engagement with their customer, but to also create meaningful…

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

Want Loyal Customers? Make Them Owners

The LA Times reported this month that, in an interesting move, AMC Entertainment, the owner of over 300 movie theaters including 25 of the 50 highest grossing theaters in…

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Added by Mike Gorun on December 31, 2013 at 6:36am — No Comments

Explode Your Loyalty Program with Social Media

As social media gets more and more entrenched in our daily lives, it’s becoming the easiest and most visible place for one of the most important things your company can have but can’t buy – word-of-mouth marketing.

 

You can have your customer experience down pat, a loyalty program that rocks and customers lined up to do business with you; but does that mean…

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Added by Mike Gorun on June 18, 2013 at 5:21am — No Comments

A Concept That Could Double Your Loyalty Program Results

The whole idea of a loyalty program is to encourage and reward customers for doing business with you. The easier you make it for them to earn rewards and the more desirable those rewards are, the more likely a customer will utilize your program by returning to your business. How many supermarket “loyalty”…

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Added by Mike Gorun on June 11, 2013 at 4:36am — 6 Comments

Utilize a Rewards Program to Increase Marketing ROI

98% of Customers Who Join a Rewards Program Provide an Email Address

Email Open Rates for Reward Members are 300% Higher Than Non-Members

Dealerships That Provide an Incentive for Customers to RETURN After a Visit Have a 20%…

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Added by Mike Gorun on April 9, 2013 at 6:30am — 5 Comments

Ramping Up Your Loyalty Program?

 Last month General Motors announced a new compensation structure based on customer retention. The pay plan affects 29,000 salaried employees in the U.S., who will be paid bonuses based on how well they promote customer loyalty through return purchases and services. Third-party sales data and internal numbers will determine if a dealership hits its loyalty…

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Added by Mike Gorun on July 10, 2012 at 3:40pm — No Comments

How did Bristol Toyota Scion create a Valentine’s Day email campaign with a 58% open rate?

Everyone knows Valentine’s Day celebrates the ladies. That’s why Bristol Toyota Scion in Bristol RI, recently used LoyaltyTrac, their service rewards program, to conduct an email campaign centered on Valentine’s Day being “Ladies’ Day”. Colorful, Valentine’s-themed emails were sent to all of their service reward members, with the Subject Line: Be Our Valentine - View Your Gift Inside. The email included an offer: Ladies Receive $15 Off Any Service of $35 or More.…

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Added by Mike Gorun on February 23, 2012 at 7:51am — No Comments

How Generation Y Will Reshape Customer Loyalty

Representing more than 1.7 billion consumers worldwide, of which 77 million are in the US, the so-called ‘Millennial’ generation (aka. ‘Generation Y’) is presenting marketers with some new challenges and changes as it comes of age and takes the reins of the global consumer economy, according to a study by Aimia (formerly Groupe Aeroplan).

To compare the attitudes and behaviors of Millennials (born between the…

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Added by Mike Gorun on December 27, 2011 at 9:28am — No Comments

Maximize Revenue Opportunities During the Busiest Week of the Year

The week between Christmas and New Year’s is a busy time of year for many auto dealers. It can be challenging for salespeople to keep up with all the showroom traffic, but that’s no excuse to let extra revenue opportunities fall through the cracks! While the customer is still engaged at the sales desk is the perfect time for a salesperson to boost revenue with the following programs:

Pre-Paid Maintenance Program: What…

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Added by Mike Gorun on December 20, 2011 at 10:35am — No Comments

Getting the Most Out of Your Holiday E-mail Marketing

The holiday season is here – a time for free shipping and 20% off everything!

At least that’s what a bulk of the major retailers out there tend to focus on this time of year. For many of us – regardless of the holiday(s) we each celebrate – the focus of this holiday season is on family and friends, on creating memories and sharing traditions, on expressing gratitude and love. It is a season of goodwill and giving.

As a business, are you focusing on the steep rise in sales you…

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Added by Mike Gorun on November 22, 2011 at 8:28am — 1 Comment

The Eight Functions of a Reward

Rewards drive behavior, whether you’re training your dog to sit, potty-training your toddler or encouraging specific buying habits from your customers. By rewarding the behavior you want and not rewarding the behavior you would like to discourage, you can generally predict the direction a behavior will trend.



Perhaps the most crucial part of customer loyalty programs are the rewards, and a good reward will accomplish many different things. We’ve provided a list of the eight…

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Added by Mike Gorun on October 11, 2011 at 12:05pm — No Comments

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