Summit Resources recently launched a new program meant to help dealers keep customers coming back to the dealership long after a vehicle purchase.

 

The company explained the premise behind LoyaltyCash is a rewards program that gives customers credit for repeat business. Summit said LoyaltyCash is a free for customers to join and is a fully functioning Web-based program that can track every dealer transaction — from new and used-vehicle sales to parts and service purchases.

 

The hook — the more money customers spend at a dealership, the more LoyaltyCash they can earn to apply toward future transactions, including service or a vehicle purchase.

 

Summit stressed that LoyaltyCash can be scaled and customized to a dealer’s exact specifications. It means dealers can decide what percentage of cash to assign as customer rewards based on their individual business models. 

 

Another feature Summit believes can make LoyaltyCash attractive for dealers is the program is geared to be extremely easy to use and can let customers enroll themselves. Summit executives believe most loyalty programs require finance managers or service advisors to go through a time-consuming setup process for every customer.

 

“That time could have been used selling other products such as vehicle service contracts and service work. LoyaltyCash eliminates that problem,” Summit declared.

 

A pair of dealership managers who already implemented the LoyaltyCash program shared their early experiences with the product.

 

“LoyaltyCash is cost-effective and efficient, and is helping drive up our sales and service retention rates,” offered Michael Brown, vice president of operations for New York-based Atlantic Auto Group on Long Island.

 

Mike Breyfogle, general manager of Tempe Dodge Chrysler, Jeep, Kia in Tempe, Ariz., shared a similar assessment.

 

“I’ve always believed a well-managed loyalty program would benefit our dealership and improve customer retention,” Breyfogle insisted.

 

“Several years ago, we developed our own loyalty program but quickly found it was a nightmare to administer and didn’t produce the results we wanted,” he continued. “The Summit software is simple to use and automatically tracks customers’ entire repair order history, how much they spend with us and their LoyaltyCash balance. Our customers appreciate the additional savings and like the fact they can access their service records 24/7.”

 

Breyfogle added hundreds of store customers are signing up for the LoyaltyCash every month and many have already redeemed rewards for discounted products and services.

 

Summit emphasized LoyaltyCash is meant to augment a series of proprietary products the company offers that are based on highly sophisticated demographic and behavioral analytics unique to the automotive industry.

 

“Based on early results, we are confident that LoyaltyCash increases repeat business and is equally beneficial for dealers and their clients,” stated Jonathan Lucenay, chief executive officer of Summit Resources.

 

“Dealers like the program because it is highly cost-effective and easily integrates with their databases,” Lucenay added.