According to reports released by Edmunds, only three car manufacturers have brand loyalty that exceeds 60%.
This is largely due to the fact that only one in three car shoppers know what vehicle they want when they begin shopping, and that an increasing number of shoppers (especially used shoppers) report that they need rather than want a new vehicle.
For car dealers this means two things:
First, the fact that someone bought a car from you in the past does not mean that they will continue to do so.
Not only do you have other same-brand dealers to compete with, but you must also remember that your shoppers will be considering other brands.
Even if your OEM is one of the top 3 that exceeds 60% customer retention, almost half of your brand owners will be trading in their car to purchase another make.
By keeping your offers in front of your existing customers, you greatly increase your chances on retaining them when it comes time for them to purchase another vehicle.
Secondly, just because someone bought a car from your competitors in the past does not mean that they will continue to do so either.
By targeting competitive brand owners - or even better - competitive models, you will be able to win over other dealers' customers and increase your market share.
"But how can I target shoppers who own competitive models? How do I know when someone is about to buy a car?"
We can provide you with that information and much more. The best part is, we'll give it to you for free.
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