Are older car buyers or younger buyers more loyal to their dealer? Are women or men more loyal? Does media preference affect loyalty? These are only a few of the many questions we ask our client’s customers. Understanding who is coming to your dealership, how they feel about their overall experience and most importantly why they chose to purchase a vehicle from you is vital in retaining your customers’ allegiance. Over the years we have collected data from thousands of surveys, and in this article we will share some key statistics with you that will help you better understand your audience and their loyalty to your dealership.
The charts below correlate a customer’s media preferences with their loyalty to their dealer. We have divided the data into two sections – age and gender.
So who is more loyal? Not to our surprise there are no significant differences in dealer loyalty based on age or gender. Furthermore, no matter which media preferences a buyer has, there is no significant difference in their dealer loyalty. What does this tell us? It tells us that no matter whom your customer is their loyalty lies in his or her overall experience with your dealership. The price, salesperson, location, future service, and availability all become important factors in a customer’s decision to stay with or leave their current dealership.
The majority of buyers (about 60%) consider themselves “somewhat loyal,” and another 25% consider themselves, “extremely loyal.” The chart below indicates an older buyer’s tendency to claim high loyalty to a dealership. The other proves that customers who have purchased from a dealer are more likely to remain a loyal buyer.
The key takeaways from this data are important to note. There is a correlation between responders stating they are loyal and their repeat purchase activity, and most responders who said they are “extremely loyal” had purchased from the dealer before. In contrast, very few responders who said they are “not loyal” had purchased from the dealer before. It is said that with age comes wisdom, and from the data we’ve collected it seems that statement is accurate. Responders age 65 and older have more often stated “Extremely Loyal” compared to younger age groups.
It’s time to start zeroing in on your customer’s level of loyalty, media preferences and buying habits, and Mudd is the best place to start. Call us today and let us take your automotive advertising to the next level.