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Just Reminding You About Special Finance Conversion Basics

Posted on: July 31st, 2012 by credit

Special finance auto leads have been important for dealerships lately. They have been boosting the sales of many dealerships who have observed and believed that there is much profit from auto lending, especially to people with less-than-perfect credit. However, there are also several dealers who are missing the opportunity. Are you one of those dealers who have not yet experienced a significant increase in sales with special finance leads? Perhaps, it’s time for you to go back to the basics of converting special finance auto leads.

Avoid deceptive advertising. It’s simple. If you don’t have it, don’t make it seem like you have it. For example, don’t put up an ad that says you can finance anyone when you don’t even do buy here pay here financing. Many dealers resort to this kind of marketing practice just to get people step into their dealership or earn more cash. Instead, keep your advertisements effective but right and clear. Moreover, complying with dealership advertising rules will also earn your dealership more trust from your customers and prospects.

Contact and work on every lead. A lot of dealers focus too much on generating a lot of leads and spend insufficient time on converting them. Actually, lead conversion weighs heavier in importance than lead generation because it is what generates profit for you. Thus, make sure that your sales team and even you are actively responding to every query that comes in.

Follow up leads. Don’t give up on leads easily. Just because a lead didn’t respond positively to your offer or did not call you back anymore doesn’t mean that he or she is no longer interested. Unless a lead makes a decision, don’t cease to reach out. There are car shoppers who would really think about the deal over and take time looking at other options before finally buying a car from a certain dealership. Moreover, follow-up could make your leads consider your dealership as one of their options.

Make sure that you are getting quality leads. Special finance auto leads need more thorough verification and screening to minimize the risk for lenders and dealers. Lead providers should make sure that they meet the criteria you have set. To make sure that you are getting quality leads, ask your lead provider about the methods they use in generating leads and how they carry these out. The way marketing and lead generation strategies are executed affects the quality of leads they will produce. Make sure they use these appropriately and not abusively.

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