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Finance Leads Are Traditional Lead Generation Techniques Still Effective?

Posted on: January 25th, 2012 by credit

Finance Leads Equal Money TREE

 Most car dealers now perceive traditional lead generation techniques as obsolete because they do not seem to be working anymore in today’s modern world.  There is actually a new trend now of automotive marketing that just makes the competition in the industry tighter, more exciting and more challenging.  This is the rise of the Internet marketing strategies which did not only prove itself more competitive in the automotive industry but in other industries as well.  These strategies do not only make it easier for car dealers to find finance leads, they also help them to close make more sales.  However, would car dealers really do away with the more established traditional automotive marketing strategies?  Are they really that inefficient nowadays?  Here is a recap of those techniques that have proven themselves effective before Internet came into the picture.

 

The most common conventional automotive marketing strategies are referrals, cold calling, and the use of mass media.  Car dealers would create a referral program for their existing customers.  The program works like this: If the existing car buyer recommend the car dealership to his or her friends, family, relatives, and to others who belong in his or her circle of influence, and that person turned into a sale, the existing car buyer would get a commission.  This is an effective lead generation technique because car dealers are able to get help in finding auto finance leads without paying for extra manpower.  They just give their existing customers a form of an incentive called commission.  Surely, the dealer’s customers are encourage to take this extra work for the extra income in exchange.

 

The second technique is cold calling.  This is simply telemarketing.  This is also one of the most effective ways of generating finance leads.  However, this requires car dealers to be skillful in sales and communication.  They should be able to ask the right questions, answer smartly and truthfully, sound friendly and helpful, and many others.  However, sales representatives often encounter turn downs in this technique.  This usually happens because these are random calls.  There may be leads who are not really interested in buying a car.  Nevertheless, with ample training and skills, car dealers and their sales representatives are able to maximize the technique and generate more leads.

 

The third technique is the use of mass media.  Car dealers would often use television and radio commercial ads, billboards and even jingles to capture finance leads.  These media are effective as they capture a wide range of attention.  This means that the message gets through to many receivers.  However, people often remember the ad itself rather than the offer of the dealership and even the name of the car dealership.  The advantage of this, though. is the promo and the brand itself that is, the car dealership’s name, gets popularized.

 

All lead generation techniques–traditional and contemporary–should be considered by car dealers as means for possible increased profitability.  The key is using all these strategies rightly, appropriately and skillfully.  Car dealers can seek assistance from Approved Auto Leads for automotive lead marketing which employs both traditional and new techniques to ensure sales and revenue growth.

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