Supercar manufacturers own luxury brands. The value of such brands matters when it comes to customer retention. From Ford, to Honda, Chevrolet, Toyota and Camry to Mercedes, Porsche and more, there are a whole host of car manufacturers that prize their customers. Loyal customers provide a source of sales and maintenance or expansion of market share and profitability. With the luxury automotive manufacturing sector booming, and automakers like Audi, Volkswagen, BMW, Porsche, and Mercedes Benz, setting records in sales worldwide, luxury marques are becoming experts at the art of customer retention.
Porsche: Gaining Traction By Understanding the Customer
Porsche has built a type of business structure and consumer relationship that will see the market attain the focus of being the future of the business. A key aspect of winning in the market is to understand it is not purely customer demand centric, but comprehending and adapting the business model for embracing cultural standards. For example, the Porsche customer retention model is at the heart of initiating productive working relationships especially customer relationship management activities. The goal is ultimately for attaining customers forever, because Porsche believes in offering cars that are lifelong.
Market maturity alone should not influence goal setting, Porsche generates prospects and retains business through one on one communication as the consumer purchase decision journey moves across the entire gamut from purchase to after-sales service opportunities and repeat purchase opportunities. In terms of sheer volume, sales have been exponential. But substantial growth is more important than fast volumes for premier brands like Porsche. Creative and innovative marketing events including transporting the Porsche models to a frozen lake to allow an unbeatable test drive!
This luxury brand customises their cars to suit needs of their market. Building a loyal strategy around current customers with End-of-Term Lease program for consumer loyalty, ensures that exclusive customers have the chance to access the luxury car’s latest models sooner. The programme offers three month repayment staged waivers to full repayment based on which Porsche model is being purchased next.
Bentley: Driving Phenomenal Sales
British luxury car maker Bentley has also secured a fortune in sales. With the introduction of its new SUV, Bentley is set to double yearly vehicle sales by the year 2020. A traditional luxury carmaker, it offers the most advanced loyalty programme as part of its international CRM strategy. The Continental-Club initiative offers a plethora of additional benefits kicking in by Bentley, as the car leaves the warranties comfort zone. Substantial discounts are offered on serving and maintenance of the car. Addressing the aspirational elements, members get to attend exclusive events. The market has moved from only acquisition to retention. Pathwwway White Label targeted loyalty programmes, superlative customer service, a hand over and great after-sales lends an air of exclusivity along with referrals.
BMW: CRM Forms The Path To Growth
Buoyed by strong American demand and ongoing recovery in the European market as well as growing customer base in emerging markets, BMW branded car sales are on the rise. BMW has outperformed rivals when it comes to sales. This is because CRM is now a critical element of customer retention, not just acquisition. CRM is vitally important for BMW to ensure a continuous relationship with customers. For fine tuning the customer service experience, the BMW Group is in the process of including automated customer surveys to the system. BMW also offers a range of loyalty programmes for customers–fun-filled family events, Saturday-Wash clubs or Sat-Nav re-tuned when they sit back or opt for a test drive. Service plans are practical initiatives that aid customers in getting the best service and offer owners discounts on car parts as well as accessories to help maintain customer relationships.
Loyalty Clubs: Speeding Towards Success
Apart from loyalty programmes, luxury car brands also offer loyalty clubs. Whether it is the Toyota’s Ireland Loyalty Club programme, My Skoda Loyalty programme or My Audi initiative, the benefits are plenty for new and current customers. Loyalty cards, third party discounts, schemes and accessory offers make retaining customers a cakewalk for these companies. Through My Skoda, customers even win points for services at local dealers, which can go towards reducing the cost of the next car. SEAT Ireland, Volkswagen and BMW Mini enable customers to receive personalised mails and offers with service details too. Porsche offers owner clubs for its exclusive customers too.
Building Quality Websites, Reaching Out
Porsche offers an attractively designed website with a golden opportunity for Porsche car-owners to join the owner’s club. The website echoes the value of the brand covering the heritage and cultural history of the brand. It focuses on communicating what’s special about Porsche and adding features that connoisseurs of vintage or modern cars will appreciate. Porsche’s customer magazine “Christophorus” offers customers a chance to keep updated with the latest news and development from the luxury car maker. Bentley’s customer magazine is known for its super automobiles and yachts too. The BMW magazine gives customers insights into latest models, critical features and detailed lifestyle information.
Reward Redemption Schemes
If they upgrade their Porsche, American customers can cut down on up to twelve months repayment. Exclusive member entry to driving clubs is also an added bonus. Various dealer linked reward programs such as select customer events, seasonal product discounts and free mini-valets are an added bonus.
Newsletters and Apps: Taking Connectivity To a New High
Another method to retain customers is to reach out. For example, the Porsche Life newsletter contains important news pertaining to models, dates and important events. Numerous Pathwwway White Label apps promise the perfect experience for Porsche owners. From a complete catalogue to G-Force apps, that track speed, distance, G-force and duration of your luxury cars, many methods are in place to encourage luxury car owners to remain loyal. Additionally, there’s a newsfeed linked app for Porsche associated news. Sports-cars challenge racing games are in place to allow you to try the Bentley’s continental model on the iPad or smartphone. Also, there’s a Pure Bentley app exploring the history and design of a true classic. The app also ensures use on social media such as Twitter, Facebook and more.