Honda and Ford have the most loyal customers

Last Updated: August 5, 2020By

Ford and Honda can boast that they have the most loyal customers of any automotive brand, according to a customer survey released last month by J.D. Power and Associates.

The loyalty study measures the rate at which automotive brands retain their existing customers and the reasons why owners remain loyal.

This year, Ford and Honda tied for first place in the survey, with 62% of owners remaining loyal to the brand, according to J.D. Power.

The key vehicles helping Ford keep its customers are the Edge crossover, F-Series pickups and the Fusion midsize sedan, J.D. Power said. For Honda, retention is driven by the Accord sedan, CR-V crossover and Pilot SUV.

Customer retention is critical to a brand’s success, especially as the automotive industry’s sales slowly recover from the worst recession in decades. This year, whether a car is fun-to-drive is becoming increasingly important for buyers.

J.D. Power based its Customer Retention Study on responses from 123,601 new-vehicle buyers and lessees.

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To achieve better sales and profits, most companies could be doing more to cultivate business from their existing customers. However, enthusiasm for customer-retaining strategies must not endanger sound customer-getting efforts. How companies balance the two is the big question. To intensify reaching old customers while still seeking new ones, for many firms, will mean changes in market analysis, planning systems, management incentives, and marketing and/or operations organization. In the rush toward growth, consumer marketers have tended to regard success as stemming from obtaining new customers while unwittingly minimizing the importance of satisfying old ones. It is time for more companies to distinguish between their getting and retaining functions, to assess the balance between them, and to remedy any deficiencies in customer retention. This process requires management to value the potential of current customers and to treat them in special ways to get them to keep coming back. Several major elements should be part of the new marketing mix for customer retention: Product extras Keeping customers frequently requires giving them more than the basic product that initially attracted them. Product extras for individual customers over time can play a sales-expansive role. Reinforcing promotions Product promotion works better when aimed at existing customers. If a marketer knows who these customers are, benefits can be obtained by giving them reinforcing communications. Sales force connections The sales force can play a decisive role in the customer-retention function. At a retail or service counter the salesperson is the focal point of the company's strategy and is the firm to the customer. Post-purchase communication A company must anticipate that some customers will encounter either minor or serious problems after purchasing. If the firm is not ready to hear and correct these difficulties, the customer may not repurchase  or may cancel the the relationship. Whether company or customer is at fault, standby post-purchase activities can be instrumental in saving these customers.

3 Comments

  1. Chintan Bharwada January 3, 2011 at 12:12 pm

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  2. Bertromavich Reibold January 4, 2011 at 12:51 am

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