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Taking Calls from Auto Finance Leads

Posted on: March 9th, 2012 by credit

 

 

Sometimes, car dealers would not receive any more responses from auto finance leads after they have replied to their queries.  This leaves them clueless as to what has happened to the auto leads—their potential sales.  When a response takes too long, car dealers should consider calling up the lead.  However, there are proper ways in communicating with the lead via telephone.

Auto finance leads would get turned off if the first call that they will be receiving from the car dealer is sales talk.  This is not at all a step closer to turn the lead into a sale.  On the first phone call, car dealers can start by verifying the lead’s information.  It is important that they do not promote their offer yet or sell right away.  The goal of the call should be to know what hinders the lead from making a decision and offering some help.  Car dealers should give a friendly and sincere impression by politely asking about the lead’s concerns.  This would make the lead feel more comfortable to open up.  Car dealers can also appear as an expert by offering alternatives or suggesting solutions to address the lead’s concerns.  Car dealers should not also forget to always invite the lead to come over the dealership’s office and check out their lot for available car models and other offers.  They could also set up an appointment to effectively and clearly negotiate.

 

If a car dealer gets a phone call from a lead without him or her contacting the lead first, it is important that they ask for the complete contact information of the caller before letting him or her go.  This is to ensure the authenticity of the caller.  Car dealers should also be careful not to discuss too much details about their offers over the phone as they can never be sure if the caller is a real lead or merely someone spying on the dealership.

Approved Auto Leads provide their clients with complete contact information of auto finance leads which are verified for authenticity before being delivered to car dealers.  This allows car dealers to contact real leads.

Doing a follow up this way does not guarantee that when done successfully, the leads will turn into a sale.  It could still take several calls before they can finally decide whether to take the offer or not.  Car dealers should never give up on following up their leads unless the lead has already bought a car or just declined the offer.  Sometimes, it really takes a long time before a lead can finally decide.  Car dealers should just be patient and diligent in pursuing auto finance leads.

An Overview on Trigger Leads

Posted on: March 6th, 2012 by credit

 

There are several types of auto leads that a leads generation company can sell such as the standard auto leads, special finance leads and trigger leads.  The latter comes from those borrowers who just recently pulled out their credit scores from the credit bureaus.  This action itself is the “trigger” for car dealers to take advantage of this opportunity to make a sale.  So what if someone has pulled out his or her credit report?  This means that these are people who are about to take a car loan and purchase a car.  Car dealers should remember that obtaining the credit report is the first step in taking car loans.  However, car dealers should be really quick in getting to these leads.  They should keep in mind that these leads did not contact them and they may have contacted other dealers with which they had preliminary negotiations already.  Thus, car dealers should really be skillful in reaching out them real quick.

There are several reasons why these leads are beneficial to car dealers.  One is trigger leads are fresh because lead generation companies would usually deliver such leads which are 24 hours old at most.  These leads are also cheap.  Moreover, if car dealers have competitive and better offers than the other options of the lead, it is almost a guarantee that the lead will purchase from them.  However, dealing with these leads also have risks and consequences.  Most of the time, car dealers can only cold call theses leads.  This is because lead generation companies usually only provide the telephone number of the lead.  There is no email address or any contact information provided.  Thus, the ways to reach them are limited.  Also, they are not exclusive for long, so car dealers would have to work on them the soonest time possible.  Another disadvantage is the lead’s reaction to the car dealer’s call.  The lead might be puzzled on how the car dealer got his or her information and may even turn down the call because it is unsolicited and unexpected.  Trigger leads may also have signed a contract or even purchased a vehicle already.  Hence, car dealers can never be sure about where these leads are in their car purchase.

Buying such leads could be stressful yet exciting.  Car dealers should just understand the risks and consequences of purchasing trigger leads.  These leads both have high conversion and rejection rate.  As was already mentioned, car dealers can close the deal if their offers are competitive.  On the other hand, these leads might not be interested in entertaining unsolicited sales call.

How to Handle Special Finance Auto Leads

Posted on: March 6th, 2012 by credit

 

Special finance auto leads are information of people whose credit scores fell at the sub prime level.  These people could not get a decent auto loan offer from the traditional loan sources such as banks and credit unions because of their bad credit score.  Even if the situation of these leads are not pleasing, their existence is still beneficial to car dealers.

Car dealers would sometimes find it hard to meet their sales target.  One of the reasons for this is the indecisiveness and unwillingness to purchase of potential car buyers who have good credit scores.  Special finance auto leads, who have bad credit, are more willing and interested to buy a car than leads with good credit do.  They are also sometimes more serious about making a car purchase.

Special finance auto leads can be bought from lead generation companies and auto dealers and lenders who have rejected their application.  Car dealers can also use a variety of auto marketing strategies to generate special finance leads.  In managing these leads, they should have a separate department—for example, special finance department—who will handle such leads.  The staffs should be well-acquainted with the nature of sub prime borrowers or car buyers and their usual needs, concerns and demands.  Having an efficient and competent special finance department will indeed make special finance leads more effective in bringing more profit to the car dealership.

If car dealers would choose to buy special finance auto leads from lead providers like Approved Auto Leads, they should only buy from the best lead provider.  They should first check the track record of the company to somehow evaluate its credibility and reliability.  They should also find out how long has the lead provider been generating and selling special finance leads.  Car dealers should also know if the lead provider buys these leads from a third party, which is mostly the case.  If it does, they should make sure that it has a reliable and excellent screening and filtering system to ensure the quality of the leads they get.  Moreover, a good lead provider should first screen a special finance auto lead thoroughly before sending it to the car dealer.  The screening process should be more intensive than with regular auto leads.

The availability of special finance leads in the automotive industry does not only benefit car dealers but also the special finance leads themselves.  As car dealers benefit from them, people with sub prime credit also benefit from car dealers who are buying special finance leads.  They have now increased chances of getting an auto loan and buying a car as car dealers reach out to them in determination to turn them into sales.

Are You Buying the Right Car Leads?

Posted on: March 6th, 2012 by credit

Car dealers can generate car leads in two ways.  They can do their own marketing efforts or buy leads from lead generation companies.  The latter is much easier for car dealers as they can focus more on turning leads into sales.  However, car dealers should make sure that they are buying the right kind of car leads in order to make more sales.  The keyword is quality.

When car dealers shop for leads, they should consider the conversion rate more than the price.  The price does not necessarily determine the quality of leads.  Car dealers should purchase leads with high conversion rate.  However, there are cheap leads with low conversion rate.  If a car dealer is more concerned about his or her budget, he or she would most probably buy this kind of leads.  However, he or she would eventually find out that he or she is not getting much from the cheap leads because they hardly convert into sales.  This would just make the car dealer buy more leads.  In effect, he or she is actually spending more even if the leads are low-priced.  On the other hand, there are expensive leads with high conversion rate.  Whether or not the car dealer is concerned about his or her budget, this is the best deal to take.  Although car dealers would be spending more to purchase such leads, they would eventually get their return on investments because most of the leads, if not all, convert into sales.  It is a good investment after all.

Car dealers would also know that they are buying quality car leads if they are delivered fast.  Why is it important that leads are delivered as quickly as possible?  Car dealers should understand that a potential car buyer would not apply in one option only.  Prospective car buyers would normally try other options as well.  It is then important for car dealers to get to their leads fast before their competitors do; otherwise, they will lose the sale.  Car dealers should make sure that the leads are delivered to them almost real time.  Moreover, if leads are not delivered quickly, they might lose their interest in the offer and just entertain other offers.  This is because car dealers will not be able to respond immediately to them since they received the leads late.  This is a loss to the car dealers.

Lastly, the right car leads are those which are screened and pre-approved before they are delivered to car dealers.  The process of screening the leads ensures the validity, eligibility, authenticity and qualification of the information and applications from the interested car buyers.  It would make things easier for the car dealers as they would not have to thoroughly validate or qualify the leads themselves.  If a lead generation company has an excellent screening system, it most likely generate quality leads.  Only quality leads help car dealers improve their sales and revenue.

Online Marketing Techniques That Generate Dealer Leads

Posted on: February 29th, 2012 by credit

 

In the past, car dealers created leads through standard marketing.  They made use of television, radio, print media and billboards to get the attention of prospective car buyers.  Some dealers still use traditional advertising to find customers, but this method of generating dealer leads is not as effective as it was before.  This is because the Internet proved to be a better tool in reaching consumers.  To generate more leads, car dealerships must then learn to utilize the Web to their advantage so they can attract more car buyers.

There are several online marketing techniques that can help car dealerships increase their generated dealer leads

.  If car dealers make use of one or all of these techniques, they will surely double or triple the number of leads that they are currently generating.  These techniques are email marketing, search engine optimization, pay per click marketing and social media marketing.

Email marketing is one tried and tested technique that countless businesses use to boost sales.  In this specific type of marketing, businesses send their potential customers newsletters and other information about their newest products and services.  This strategy is guaranteed to not only expand the business’s client base but also to establish customer loyalty.  Car dealers that would use email marketing to generate more leads will find that this technique really is effective in encouraging prospective car buyers to ask questions and even register their information.

Another tried and tested marketing technique that would benefit car dealers hoping to get more dealer leads is search engine optimization.  Better known as SEO, this technique makes use of specific keywords to direct consumers to the website of a business.  Car dealers which would utilize SEO will make their websites rank high in search engine results and get the attention of more people.  The more people drawn to the site, the more leads there will be.  Meanwhile, pay per click marketing is similar to SEO in the sense that it involves targeted keywords. Also called as PPC, this marketing method can be applied immediately, enabling the dealer to attract leads almost immediately.

As for social media marketing, its effectiveness relies mostly on the popularity of social networking sites such as Facebook and Twitter.  The aforementioned social platforms are used by countless people all over the world, making them the ideal tool to use when it comes to generating new leads.  Car dealerships can use one or both sites to connect with potential buyers and inform them of their latest products and services.

Car dealerships determined to increase the number of their leads can also opt to buy from online lead generation companies.  These companies can take over the responsibility of generating the leads so the car dealers need not do it.  Companies such as Approved Auto Leads generate quality and qualified leads and offer them to car dealerships.  All car dealers must choose a reputable and legitimate lead generation firm if they want to get not only more leads, but the best quality leads out there.

 

 
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