Performance Loyalty Group Launches New Incentive Program Aimed at Closing "Be Back" Customers
Business Wire – October 29, 2007 – San Ramon, CA – Performance Loyalty Group, the market leader in automotive frequency marketing and loyalty retention programs, today announced that it has launched a Dealer Discount Card marketing program. This new program specifically targets those potential buyers who may have visited a dealership but failed to purchase a new or used vehicle on their initial visit.
Performance Loyalty Group's Dealer Discount incentive program allows a dealer to select an incentive value, issue it in the form of a redeemable card and offer it to customers who return within fifteen days to purchase a new or used vehicle. The incentive card, which resembles a dealer branded gift card carries a much higher perceived value to the customer than any "take way" a dealer may provide currently. Performance Loyalty Group research indicates that a customer is 88% more likely to retain and use the discount incentive card over a dealer's standard business card.
The Dealer Discount Card is provided to the customer in exchange for their current email address. Then a series of five communications are sent on behalf of the dealership to continue to entice a customer to return to make a vehicle purchase. The emails contain reminders about the incentive, an optional offer for a service discount and a last chance reminder before the incentive offer expires. This affords a dealership a critical opportunity to re-establish contact with a potential customer immediately after leaving the dealership and stay top of mind for several more weeks while they consider a vehicle purchase more closely.
"Dealerships across the country call them 'Be Backs,' the people who drop in to view a model or price shop and say they'll be back but for the most part never return," said Michael Gorun, Managing Partner of Performance Loyalty Group. "Through our incentive marketing program dealers now have a chance to capture a potential customer's attention, get some feedback about why they didn't make the purchase during their initial visit and provide an enticement for them to return and close a deal," said Gorun. "If dealers can close a fraction of their 'Be-Back' customer base their downstream revenue will be positively impacted."
Each time a Dealer Discount Card is issued a customer feedback survey is immediately generated. The survey is intended to solicit response about their visit and determine why they did not make a vehicle purchase; was it price, inventory selection, was the salesperson's approach a factor. Seeing a pattern may assist a dealership in adjusting its business to more positively impact the customer experience.
The discount card may be redeemed only for a limited time period and is designed to drive new and or used vehicle purchases. The dealer, depending on state retailing laws, may apply the discount value towards new vehicle accessory purchases, future parts and service or as a direct purchase discount. The dealership may also choose what incentive level to offer potential customers, for example, $100, $500, $750 or $1,000. Cards are then issued to the dealer bearing the dealers name, contact information and incentive amount.
Headquartered in San Ramon, California, Performance Loyalty Group is a leading marketing technology company providing customized loyalty rewards, customer retention, prepaid maintenance and media tracking programs for the automotive industry.
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