Vehicle Owner Enrichment: How to Build Brand Loyalty

What are the factors that keep drivers loyal to a brand? What can you do to increase loyalty to your brand? LexisNexis® Risk Solutions conducted consumer research* to better understand vehicle owners’ expectations and, based on that, help automakers uncover opportunities to boost loyalty to their brands. We discovered that life events, vehicle body styles and consumer satisfaction are all contributors to vehicle owners staying—or not—with their automaker. The research findings, along with recommendations on how to address them, are presented in our latest report, Owner Enrichment, Creating Automotive Customer Loyalty.

This is the third and last report in our series covering the three stages of the vehicle ownership lifecycle identified in our research:

1. Owner Engagement: Automakers should actively engage current vehicle owners to establish a strong foundation for ongoing relationships. Knowing and connecting with existing vehicle owners lay the groundwork for more sustained engagement.
2. Owner Experience: Improved visibility into vehicle ownership information helps automakers create a more seamless digital experience both within and beyond the dealership. Balancing the ease of use with reliability in interactions is crucial to meet owners’ expectations. 
3. Owner Enrichment: By building and leveraging enhanced data strategies, automakers can provide additional value to their relationship with vehicle owners and help boost loyalty.

Owner Enrichment, Creating Automotive Customer Loyalty key insights reveal:

• Nearly identical amounts of customers are leaving automotive brands (51%) and remaining loyal (49%).
• Half of new vehicle buyers surveyed experienced a life event before or while shopping for their current vehicle. Nearly eight in 10 (79%) respondents who experienced a life event say it impacted their vehicle purchasing decisions.
• Approximately one-third (36%) of new vehicle buyers switch vehicle type (sedan, truck, SUV etc.) for their subsequent purchase.
• Almost nine in 10 owners left a brand when they were not satisfied with their vehicles.

Complete the form to explore the full report and its insights into this pivotal phase of the vehicle ownership lifecycle!

Available in our Related Resources below is the opportunity to engage with our Owner Engagement and Owner Experience research to understand the evolving owner relationship.

*A total of 2,227 people answered our survey between July 6-24, 2023. The online panel sample was managed to ensure a representative sample.