Driving Customer Loyalty: Moving from Wishes to Actions
Tags: Automotive, Automotive, Customer Acquisition
Explains a new and more accurate approach to defining and measuring customer loyalty for the automotive industry that allows the entire value chain to make the most informed decisions.
Customer loyalty, while always important, is mission-critical in a flat/declining automotive market. Since there is no single definition of loyalty appropriate for all manufacturers, it is critical to define specific loyalty metrics that deliver actionable insight for your business. While customer satisfaction surveys commonly are utilized in attempts to measure loyalty in the automotive industry, they do not account for the profound difference between customer-reported intentions and their actual behavior. This white paper is intended to explain a new and more accurate approach to defining and measuring loyalty for the automotive industry. This approach incorporates the following criteria: 1) Providing flexible loyalty methodology, customized and based on each OEM's need. 2) Utilizing comprehensive, industry wide data that allows precise definitions of loyalty. 3) Combining OEM-sourced data with industry data to drive customer-level, actionable findings.