Prepaid Drives Automakers And Car Dealerships To The Winner's Circle

Automotive companies looking to increase customer engagement, raise retention, and drive new and existing customers to make vehicle and parts purchases are turning to prepaid.

Prepaid is the perfect incentive for the automotive industry, because it covers all bases. From dealership rewards programs and sales initiatives to referrals and rebates, prepaid can help deliver strong customer and employee engagement, and get you to the finish line.

A Reward Customers Actually Want:

According to a Canadian survey on incentives and rewards, customers are more motivated by cash rewards than they are by price discounts or other rewards, such as experiences, gifts, or merchandise. They especially shy away from slight discounts at car dealerships; given that many car payments are financed, the end result of a discount is only a very small drop in the customer’s monthly or weekly payments. Offer them something real, substantial, and immediate, like a prepaid Mastercard than can be used to purchase what they want, when they want it. Customers earn points for making purchases on both parts and services, and these points translate to cash they can spend. The more they purchase or use your dealership, the more they will be rewarded. This will result in increased customer communication and satisfaction, which is key to increased profits and market-share.

Make Their Test-Drive Experience One To Remember:

You’ve heard the phrase, “try before you buy?” This is never more true than with a new vehicle. An incentive payment to potential customers to test drive products will not only bring more people to a place of business, it will also enable the business to reach out and offer them other incentives in the future. Whether they make a purchase that day or not, they will remember the good will and are now part of the company's consumer base.

Entice Your Customers & Earn Back Your Marketing Budget:

Reward existing customers with a prepaid card loaded with funds that they can use to make purchases at their local dealership. Cards can be restricted to a specific Merchant Category Code, limiting purchases to specific dealership locations or businesses of your choosing. By limiting card purchases to your own business, you can effectively regain funds spent on marketing and, in most cases, customers will end up spending significantly more than they were rewarded.

Problem With A Vehicle or Service? Turn The Situation Into An Opportunity:

A prepaid card is the perfect tool for car dealers and auto manufacturers to smooth out any issues a customer might have. Problem with the car or service? Need a part replacement? Reimburse the customer with a prepaid card loaded with funds. Don’t just offer a sanctimonious apology letter; instead, offer the customer something they actually want and flip the script on their negative experience. You can also use a prepaid card to push customers to share their good experiences with a positive review of your business. A branded card with your company name and logo is a great marketing tool to remind your customers that you care.

Prepaid Programs Are More Than Just Rewards:

Update your marketing services and eliminate costly, complex payments and rewards methods like cheques, coupons, or vouchers by switching to prepaid. Streamline administrative work while improving data analysis and tracking. Our prepaid payment programs allow you to generate easy-to-decipher reports to better understand your customers’ purchasing behaviours and improve the success rate of future marketing promotions.

Motivate Your Sales Team And Improve Your Customer Service:

Customer retention is important for any business, and it is especially true for car manufacturers and dealerships. Offer a prepaid solution to your staff as a reward for hitting sales goals, or as a thank you for their hard work, and watch their loyalty and engagement soar! If you want to create a strong corporate culture, improve engagement, and increase sales, this is how you do it.

Grow Your Existing Customer Base Through Referrals:

In the auto industry, referrals are an incredibly effective way to grow your existing customer base. A great case example is the award-winning Friends and Family Auto Dealer Referral Program. Customers who successfully refer–you guessed it–friends and family members to make car purchases at participating dealerships are rewarded with preloaded rewards cards, which they can then use towards their own car-related purchases, or virtually anything else!