Automotive Brand Loyalty Smoyalty, Conquest Baby All the Way!

Posted: December 23, 2016 in Uncategorized
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brand-loyalty

Overall brand loyalty stands at an average 49.5% so let’s just say car dealerships have a 50/50 chance that their new car buying customer is going to be back to do it again. There is no better time than now for dealers to dig into key stats and tap data driven strategies with both digital and traditional to gain market share BIG TIME!

The longer someone owns a vehicle, the less likely they are to trade it in for a new model of the same make. (Source: Experian)

With the average length of new car ownership being about 78 months, certain makes are held on to longer than others. Dodge and Buick have the longest ownership periods (average 113 months each) with Ford, Chevy, and Mitsubishi rounding out the top five.

Of course the short term vehicles owners have more loyalty and choose to replace their vehicle with the same brand 57% of the time.

What does it all mean for car dealers? From a digital and direct marketing perspective, it’s “Open Season” on Conquest owners and it’s a “wake up call” to take care of your customer base. If you as a dealership are not reaching out and touching your customers once a month or every other month, you can be sure someone else is.

Bottom-line, Registrations for light VIO here in the USA has reached a record level of 257,900,000. Brand loyalty is not what it used to be and never will be again. Conquest marketing is just as important as marketing to your customer base.

Hit them both, hit them often, and hit them hard!

Great Selling,

Todd Vowell

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