Here at Autofinity we are invested in helping our automotive clients deliver service that promotes brand loyalty. According to a survey from incentive platform 360insights, 83 percent of respondents agreed that cash rewards and incentives have a positive impact on their relationship with a brand.
With the right reward offered, customers were also much more likely to become brand advocates, recommending them to friends and talking about them on social media. When asked what would make a customer more likely to discuss a purchase with a friend, a quarter said a free gift or cash incentive. 68% would be more likely to post a product review in return for a cash incentive.
In a highly competitive car retail market, manufacturers and retailers need to give themselves an edge, and Autofinity’s retail software offers a vehicle for supplying that edge. The same is true for other automotive services such as vehicle repairs, which also need to compete for work.
In the survey, 75 percent of respondents said that the right reward could shift their final purchase decision to buy from a competing brand at point of sale.
John Bird of 360insights says: “This research shows incentives and rewards at the point of sale are essential for brands looking to reap sales and market share from the competition. If a brand is spending budget getting a customer to the point of purchase, only for that customer to switch to a competitor at the last minute because of an appealing reward, then essentially, that brand is investing in creating demand that another company benefits from.”
Autofinity’s Remarketing solution offers a stock management system linked with its vehicle locator software, which enables manufacturers and retailers to create customer promotions available instantly on their retail listings.