When consumers start to enter the market for a new car, where do they go? Generally speaking, they go back to a company that they’ve already done business with, or one that they trust through the recommendation of a friend. It’s this spirit that is driving a acquisition in the car dealership industry, with Lookers plc acquiring Benfield. The newly-acquired dealerships will now be known as Lookers, and there’s quite the awareness campaign going on.
It goes a bit deeper, of course. Both companies are driven by close customer interaction, family traditions, and a long history. Lookers is focused on easing people slowly into the new name, while maintaining the processes and customs that customers count on as they make their purchasing decisions.
Nigel McMinn is the Managing Director for Lookers and offered a few choice statements on the acquisition as well as the rebranding campaign, saying, “Benfield is a strong regional brand, steeped in family values and history. It has therefore been essential, since our acquisition, that our name-change and rebrand plans have followed a phased approach to take our customers on a seamless journey to the new Lookers brand and values.”
From a business standpoint, the move to acquire Benfield was a very clever one indeed. Benfield was the company behind over 30 dealerships scattered throughout the UK. There are also some retail outlets, both types of property are located primarily in Northeastern England, West of Scotland and Yorkshire.
The awareness campaign is sure to become a case study amongst managers and implementation specialists given how comprehensive it is. Lookers has captured customer feedback and measured responsiveness to the change, indicating that the combined customer base seems excited to move forward. The brand has also increased media spending, outdoor branding, and internal customer notifications.
Now that both brands have merged into Lookers, the company’s future looks bright. The turnover for the company is four billion pounds, and roughly 200,000 cars sold per annum. Employee growth is also expected to increase, with a current staff size of 8,500 team members.