Blog Posts by Stephen Polk

It was my honor to present the 14th Annual Polk Automotive Loyalty Awards at the Automotive News World Congress this week. We’ve discovered over the years that the more you know about customer loyalty, and the more you focus on it, the better. And I can tell you first-hand that we’re seeing more and more of our customers taking their loyalty objectives very seriously. Our 2009 Model Year winners are no exception!

Every year Polk recognizes automotive manufacturers for their superior performance in customer retention. Our Loyalty Awards are based on actual model year purchase and lease activity. This year, we analyzed over 4.5 million household records to determine our winners. In these days of struggling sales and overall automotive industry challenges, the winners this year are a testimony to those OEMs who recognized the importance of spending their resources wisely, and focusing on areas with bottom-line impact like customer retention; which we view as a “must” for automakers hoping to compete.

In our white paper, "Managing Customer Loyalty in the Auto Industry," we share three strategic tips automakers should consider when developing their plans to manage and build their owner loyalty. I hope you find it interesting.

In closing, and on behalf of R. L. Polk & Co., I want to congratulate all of the 2009 model year winners. I hope to see you all again next year at the 15th Annual Polk Automotive Loyalty Awards. Until then, continued success in your customer loyalty efforts!

Posted by Stephen Polk, Chairman/CEO, Polk (01.14.2010)

As the Thanksgiving holiday approaches, I've given some thought to all of the things that we at Polk can be thankful for...

10. Our Heritage. My great grandfather founded Polk in 1870. In 1921, my Grandfather ushered in Polk's entrance into the automotive industry. And we haven't looked back.

9. The State of Michigan. Sure times are tough here in Michigan, but there's something about the people and the work ethic in Michigan that keeps us all working hard everyday. This is the Motor City and for a company solely focused on automotive, this is the only place for Polk.

8. Our Longevity. I'm proud to be part of something this long-standing. Not many companies have been around for 139 years.  The first gas-powered car arrived in 1896—26 years after Polk was founded. We were here long before the car, and long before the computer and the internet.

7. The Evolving Nature of Our Business. The great thing about the automotive business is that it continually drives forward.

6. The Automobile. What is it about cars that drives us crazy? Is it the speed? The styling? The sensibility? For me, I just like cars. I like driving them, looking at them and counting them.

5. Our Data. We pride ourselves on being the gold standard of automotive data. However, more than the data, it's our passion for analysis and uncovering high-value insights to help our clients make more informed and more confident decisions.

4. The Internet. It's hard to imagine how any of us accomplished anything in the days before computers, let alone the worldwide web. The impact on commerce and information distribution has been astounding. We've come a long way from radio as our major source of news and information.

3. Our Solutions. It's great to help people solve problems. We help our customers get results and that is something to be thankful for!

2. Our People. Remember picking teams as a kid? Sometimes you didn't get everyone you wanted on your team. At Polk, that's not the case. We have some of the most knowledgeable people in the automotive industry around the world. And they are all dedicated to making our customers jobs easier. And that leads us to...

1. Our Customers. Customers have always been and will always be our primary focus at Polk. Without them, we have no purpose. So at this time of reflection, I offer to our customers, from everyone at Polk, have a very happy Thanksgiving and a great holiday season…and thanks!

Posted by Stephen Polk, Chairman/CEO, Polk (11.25.2009)

I am excited to be kicking off this launch of the Polk Blog. Together with many of my Polk colleagues, I welcome the chance to share thoughts and insights and to engage in dialogue on the automotive industry challenges that surround us every day.

Our goal is to share perspectives, market analysis and forecasts on the shifts we see in the global automotive marketplace. I have no doubt that the next few years will be turbulent. There will be continuous change in sales trends, lead management practices and aftermarket support that will drive loyalty to manufacturers and their dealers. Other factors like changing CAFE regulations and hybrid technology advances will influence product decisions in the industry.

And the breadth of changes will be global. I made a presentation last week on the Chinese automotive outlook. One of the highlights for me was the significance of General Motors as the leader in the Chinese light vehicle market (17.4% market share). GM had the largest largest share gains in China in 2009, succeeding despite the turmoil around the US bankruptcy issues. There will be winners and losers around the world, and the final outcomes will be very volatile.

It is going to be an exciting time. Welcome, again, to our inaugural Polk Blog. We welcome your comments as we discuss our perspectives.

Posted by Stephen Polk, Chairman/CEO, Polk (06.29.2009)