Heading into the AIM Expo, we knew the motorcycle and power sports industry is changing quickly. The marketplace for dealerships is calling for new customers because it is currently in the mature stage of the lifecycle. Dealerships and manufacturers need to reach new customer groups to market and sell their products and services. But with new customer groups, they will need to adapt their marketing strategies to meet the changing demands.
With this in mind, we led conversations with dealerships and manufacturers at our booth on what steps they should be taking to address the changing marketplace, focusing on a personalized marketing strategy. Based on our experience , a personalized marketing strategy is proven to be more effective to engage with customers. Some of our clients have seen up to 40% increase in customer engagement. Additionally, a personalized marketing strategy is an approach that is receptive by Millennials, a new customer group for dealerships and manufacturers.
Millennials are a growing group of customers across various industries, but are extremely important to the Motorcycle industry. According to IBISWorld’s July 2017 report on the Motorcycle industry, one of the most promising target customer group is younger adults, aka Millennials.
According to this report, Millennials are looking to purchase motorcycles as an alternative to traditional automobiles. With that said, dealers can approach Millennials in the same old methods they use with older customer groups. Millennials are also expecting a different marketing approach. As a result, dealers need to be able to provide that or Millennials will choose to engage with dealers who only meet their needs. Now, one way to engage with Millennials is through a personalized marketing approach. That is where a customer loyalty program fits into your dealership.
And so, this is one of the key reasons why we exhibited at the AIM Expo. Currently, we, at SailPlay, are working with different dealerships, each of whom have experienced large increase in customer retention. Based on our expertise with dealerships, the dealers who quickly understand the need for a personalized marketing approach can expect to build a stronger customer base.
Now through a strong customer base, dealerships can segment their customers to deploy targeted marketing and sales campaigns. Additionally they can encourage customers to promote their business on social media, in exchange customers will receive a benefit. As we know, Millennials are continuously always on social media, so why not have them promote your dealership there? It will help increase your reach and ideally increase your customer base.
Overall, customer loyalty programs aren’t just tailored for Millennials, any customer group can benefit from it. The whole purpose behind a customer loyalty program is to better understand your customers. Which customer group would not want to be better understood? It would make the customer service experience that much better.
Many of the dealerships we met with understand the need to expand their customer groups. Relying on the old strategies and approaches, won’t help them succeed in the long-term. Plus adapting to new approaches and technologies, will help them make adjustments as customer groups change.
With this year’s AIM Expo being such a great oppportunity for us, we hope to see everyone at next year’s expo. And if you would like to learn more about how a strategic customer loyalty program can help your dealership succeed, please contact us by filling out the form below or email us at firstname.lastname@example.org.
P.S. Before I wrap up, I would like to thank AIM Expo for hosting such a great conference. Plus, a special thanks to the Motorcycle Powersports News (MPN) for being a great sponsor for the tradeshow.