EFG Companies recently won a Silver American Business Award for Achievement in Product Innovation. This honor came during the 24th annual Stevie Award-based competition. The win recognizes the firm’s Million Mile Limited Engine Protection Loyalty Program.
This specific program addresses key challenges for both powersports dealers and consumers. It provides a unique tool to help dealers differentiate themselves from competitors. Additionally, it helps drive traffic back to the service drive.
“This award validates what matters most to us, innovation that directly delivers measurable revenue for our dealer partners,” said Jennifer Rappaport, President and CEO of EFG Companies. “The Million Mile Loyalty Program was intentionally built to help powersports dealers grow back-end revenue, strengthen customer relationships, and boost repeat service traffic in a challenging economic environment. We’re honored to be recognized for a product that delivers real, bottom-line impact.”
Silver American Business Award: Innovation Driving Dealer Revenue
The program offers significant financial benefits to participating dealerships. To date, EFG’s Powersports division has seen a 42% increase in year-over-year revenue. Much of this growth stems from the new loyalty program. EFG projects that dealerships will increase unit sales by 11%. Furthermore, they expect to add roughly $325 in revenue per powersports vehicle sold.
Consumers also gain protection through this initiative. The program shields them from costly repairs to the engine, which is a critical vehicle component.
Judges commented, “EFG Companies presents a compelling product innovation with the Million Mile Limited Engine Loyalty Program, clearly articulating its market need and dealer value proposition. The quantified results, 42% YOY revenue growth, 12 new dealership groups, and $325 incremental revenue per vehicle, are impressive.”
The company has now won 15 Gold Stevie Awards throughout its history. This marks their twelfth consecutive year receiving national excellence honors.
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News Source: Businesswire.com
