Tesla Model S in Australia
Strategic Vision, after two years of its New Vehicle Experience Study (NVES) consisting of data from over 534,000 new vehicle buyers, found the connection between overall vehicle experience and repurchase loyalty.
As it turns out, satisfaction is not enough if you would like to see the customer again in auto industry.
"Customers who report that they are very satisfied with a product or service are not likely to be advocates, more likely to tell others to avoid the product, and are more often disloyal (more like those who report “hating” the experience). It is imperative that companies go “beyond satisfaction” and provide experiences that customers will “Love.” When customers experience Love, they become strong advocates who are significantly more likely to be loyal."
Strategic Vision prepared the Edwards Commitment Scale to rate vehicles beyond satisfaction: 1=Hate it, 2=a Failure, 3=Unsatisfactory, 4=Satisfactory, 5=Excellent, 6=Delightful and 7=Love it.
On average, only 22% of satisfied customers will buy the car again. That is only 10% more than in case of customers who Hated their previous experience (12%).
Even the highest “Love it” will, on average, translate to only 48% repurchase loyalty.
Dr. Darrel Edwards, PhD, Founder of Strategic Vision said:
“When you fully understand the impact of only satisfying customers, you understand that satisfied customers are essentially lost future sales. You must create experiences customers will naturally state that they love, or you will lose.”
Now, let's move to the Most Loved Vehicle in America according to the Strategic Vision. We don't need to search hard for plug-in cars, as one of them opens the whole two-year analysis with results of 92% of customers that "Love it".
The winner is Tesla Model S - in Luxury Cars category and overall!
Among luxury cars, second best is the Audi A8/S8 (76%), while second best overall is the MINI Cooper Roadster (86%). Tesla Model S has a significant advantage of 6% over the next closest car.
There's a second plug-in car that topped its category too - Chevrolet Volt, with 68% "Love it" - won the Mass Market Cars category together with the Dodge Charger (also 68%). In the mass segment, manufacturers are unable to throw so many features in as in the luxury segment, which makes 68% a very good result too.
Chevrolet Volt Is Most Loved “Mass Market Car” – Tesla Model S Most Loved “Luxury Car” & Overall (source: Strategic Vision)
Source: Strategic Vision