Automotive Digital Marketing

Professional Community for Car Dealers, Marketing, Advertising and Sales Leaders

Loading... Be Patient!

Mike Gorun's Blog – October 2012 Archive (3)

Pricing Pre-Paid Maintenance Plans is Critical to Their Success

Many dealerships price prepaid maintenance programs (PMPs) high enough to shatter success from the start. Thinking that the real benefit comes from profit built into the plan along with forfeiture, they create a price point that’s prohibitive. While some new buyers will take the bait, the typical consumer, when asked to pay $895 for three years of scheduled maintenance, simply adds up the cost of nine or ten oil changes and a half dozen tire rotations and says, “Thanks, but no…

Continue

Added by Mike Gorun on October 29, 2012 at 11:34am — 1 Comment

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 as…

Continue

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…

Continue

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

ADM Blog Topics by Tags

Monthly Archives

2018

2017

2016

2015

2014

2013

2012

2011

Automotive Professional Network and Resource Exchange for Car Dealers, Managers, OEM and Marketing Practitioners seeking Best Practices.

ADM Sponsor

Please Consider Automotive Marketing Professional Community Sponsors

ADM Badge

Loading…

Based On Your Interests...

ADM Consulting, LLC

Onsite/Offsite Combination ADM Consulting, LLC Professional Services
Select the maximum monthly investment you plan to make
$USD
Sign up for

Automotive Marketing Tools

Get ADM Toolbar

Click here to take the ADM Member Survey

Getting too many emails from ADM? Click mailbox below to control which types of alerts and updates you are sent......


Instagram

Top Automotive Marketing Forum Discussions

Share the Best Content w/AutoMarketing Community

© 2019   Created by Ralph Paglia.   Powered by

ADM Badges  |  Report an Issue  |  Terms of Service