What Steps Should Automakers Take to Boost Client Retention?
27th November 2023
Written by Tom Peace
New Monday Morning Insight and LinkedIn Poll
9th June 2022
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On the 16th October, we looked into loyalty in the automotive sector and how it differs compared to other sectors loyalty strategy. In our previous insight and LinkedIn poll, 61% of the community voted No in being loyalty to a manufacturer in the automotive industry.
As specified in our previous insight, buying a car is a difficult process due to many factors including economic, personal and overwhelming amount of choice.
So after making a decision on the car they want to buy, manufacturers can take advantage of the current age of technology and give their buying customers a seamless post purchase experience.
Many automakers design various models to cater to varying lifestyles and socioeconomic statuses, but in order to maintain a customer's loyalty, manufacturers must know how they feel about the vehicle they bought. Numerous businesses have begun offering post-purchase services, which enable the manufacturer to communicate with the client via a variety of channels. These services can include
Predictive maintenance software, Car management software, Data viewing capabilities, Reliable breakdown cover and 24/7 customer support.
By using the technologies as described above, a manufacturer and customer can establish an ecosystem that benefits the client's convenience and strengthens the bond between the two parties.
Personalisation and segmentation are two other ways firms can improve client retention. Each car manufacturer has different types of customers, and by leveraging this information, businesses may utilise customisation to target distinct consumer bases with specific discounts. Personalisation and segmentation in marketing can also help to maintain good communication between the client and the company at the same time.
The way we buy cars is also changing, with subscription based models becoming popular. Consumers don’t won the car, under a hire agreement, but get a great deal of flexibility in terms of changing the car regularly and all servicing is included in the price. Whilst this is more costly if provides the customer with a greater level of flexibility and less chance of expensive surprises, and this is becoming more and more popular with consumers
Let us know what else automakers can implement to maintain long lasting customer service, click on the link below to vote!