Why is it important to treat your customers fairly?

Treating your customers fairly has always been important, but in today's world, it is critically important. Treating a customer unfairly could impact your customer retention, your dealer's reputation, and your competitiveness in the marketplace.

• Customer Retention: Finding a new customer is more expensive than keeping one loyal. Treating a customer fairly ensures a more satisfied customer and a more likely return to your dealership.
• Dealer's reputation: With customers' increasing ability to communicate their opinions on different platforms, favourable word-of-mouth marketing is of paramount importance. Treating a customer fairly will build a dealership's trust and positive image, leading to positive reviews. Customers are increasingly conscious of ethical and socially responsible business practices. Fair Treatment of Customers (FTC) is of greater importance to these buyers. Dealerships prioritizing Fair Treatment of Customers are more likely to attract and retain socially conscious customers.
• Competitiveness: Dealerships that focus on the Fair Treatment of Customer principles are better positioned to distinguish themselves from competitors and attract new customers.

It is not only important to treat a customer fairly from a business sense but also regulatory compliance.

iA Dealer Services respects and promotes the principles of the Fair Treatment of Customers. Recently, we created a training video on that matter, which is now available on our platform to help enhance the FTC in your dealership.

We develop training programs that give you the best opportunity to offer programs while following the fair treatment of customers. Please click here to see all our available training programs.

Overall, Fair Treatment of Customers is crucial in today's business landscape because of its impact on reputation, customer loyalty, compliance, and market differentiation. This emphasis on fair treatment reflects a broader shift toward more customer-centric business models and ethical considerations within the corporate world.