Among the biggest changes Ford communicated for the first time was a pivot from focusing on conquesting customers from other brands to retaining loyal buyers.
The automaker plans to center its marketing efforts on keeping customers in the fold, communicating with them more often through connected vehicles and offering perks through a new rewards program on its FordPass app.
"When we did all the data analytics, it became really clear, a loyal owner is so much easier for us to do business with than trying to get a customer from someone else," Farley said. "It was a big aha moment for us."
Ford traditionally has had the strongest customer loyalty in the industry, although it's dipped slightly through July this year to 63 percent, according to data from IHS Markit.
One area in which Ford can target its consumer base: the 13.5 million trucks owned in the U.S. Ford plans to build upon those numbers with a new loyalty program that will roll out in the U.S. next year. Ford declined to provide details, but said customers can earn points to redeem for meaningful rewards and that they fashioned it after studying brands such as Delta, Starbucks and rival automakers like Toyota.
The plan also involves more interaction with the customer after they purchase their vehicle through connected modems, which Ford plans to have on all its nameplates within the next few years. The automaker wants to offer unique experiences, similar to how its Lincoln luxury brand has built a niche with services like standard pickup and delivery and chauffeur services.
"There's so much choice in our industry now and there's so much great product," Farley said. "We really believe now, when you look at the new technology enablers, the next opportunity is to build a much more frequent relationship with the customer."