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Like Us On Facebook! Taking Advantage of Social Media for Auto Leads

Posted on: September 18th, 2012 by credit

Whether you think the economy is slow or there really is a recession, auto dealerships must sell cars in order to stay in business. This endeavor seems impossible nowadays because a lot of people are tightening their belts and spending less and less. Nevertheless, this does not mean that there are no people interested in buying cars because they are out there…you just have to know where to look and how to look for them.

One way to look for your auto loan lead is through Facebook, one of the world’s famous social networking sites. A lot of companies use Facebook to share content to people all over the world. It is a cost-effective marketing strategy so businesses can advertise their new products and services online. The great thing about Facebook is that its members are actual people so if you are in the auto dealing business, you are most likely to get people who will actually make a purchase once you established a connection with them.

Using the Like Feature for Your Auto Leads

Facebook has plenty of features that can be used to look for potential customers who are interested in buying cars. One way of getting your customers’ foot in the door is by asking them to “Like” your Facebook page. Once you get them to do this, your updates will appear on their news feeds and you can now establish a connection with them.

The Right Content, The Right Customers

When you construct your Facebook page and when you upload updates, you should look at it from your customer’s point of view. It should be interesting enough to catch the attention of the visitor. Do not take for granted what is in your Facebook page. What you say can affect the whole thing and using sales-driven directives such as “Sign up now!” can be another way to generate your auto loan lead. Do not forget that Facebook allows you to share content such as videos, pictures, and newsletters, with your customers so you should take advantage of this as well.

Engage Your Captive Audience

Once you get your captive audience, you should exert an effort to sustain them. Aside from giving the right content, you can also come up with contests to keep your customers and attract more of them. Remember, there is a chance that your visitors will click on that “Share” button so your Facebook page will be broadcasted in the visitors’ network and get more Likes in the future. When you use this approach, remember to follow Facebook’s promotion guidelines.

Auto dealers should maximize the use of social media when it comes auto loan lead generation. A lot of people, young and old, are using Facebook to get updates, entice new customers, market their products. Not only is it effective, it is also profitable without costing you a cent.

The Leads War: Buying Them vs. Generating Your Own

Posted on: September 11th, 2012 by credit

Selling cars is tough because these things are very expensive. In order to meet their sales quotas, they should not only rely on people visiting the dealerships because this does not guarantee it will translate into a successful sale. That is why it is important for car dealers to use auto leads because these contain information about the people who are interested in buying cars. With auto leads, sales and marketing associates working for auto dealers will know more about their target market. Car dealerships have two options when it comes to auto leads: buying them from a company that sells them, or they can generate their own leads. Here is a look between these two choices.

Purchasing Leads

A lot of auto dealerships choose to buy leads to generate more income. One of the biggest advantages of buying these leads is the convenience it affords. Car dealers get to save time, money, and effort because they can simply hire a lead generator company to do the dirty work for them. As there are plenty of lead generator companies on the Internet today, finding one is very easy. Also, the time required to come up with your own leads can be spent on more important things, such as closing the sale on a car instead of looking for more potential buyers. Reputable lead generator companies also do a screening process to ensure the authenticity of the leads they sell.

Generating Your Own Leads

On the other hand, some car dealerships think that generating their own leads is more lucrative than purchasing them from a lead generator company. By generating their own leads, companies are in control of every aspect of lead generation. They can simply rely on their website and no longer have to depend on others to come up with leads for them. This also translates to more savings for the company. They have the freedom to produce their own leads when they need to. They can also customize their own leads to tailor-fit their needs without compromising quality.

The Bottomline

So whether you decide to buy leads or generate your own leads for your car dealership business, the key is to know which one will benefit you the most. You do not have to limit yourself by choosing one over the other because you also have the option of using both methods to generate more income. You just have to maximize your resources wisely so the effort and money you invested are not wasted.

Simple Ways to Engage Prospects in Twitter

Posted on: September 10th, 2012 by credit

Aside from Facebook, LinkedIn, and Google+, the microblogging site Twitter is also one of the most effective social media platforms in capturing prospects and making sales. In the automotive industry, Twitter functions likewise in generating more dealership auto leads and sustaining interest among car shoppers.

In a recent study, Buddy Media found interesting results about Twitter and its function in engaging followers. It then suggested a few ways on how Twitter can better be used for more effective engagement. The following tips are based on its suggestions:

1. Tweet at the best time.

It is important for you dealers to know when is the best time to tweet. The study revealed that weekends (Saturday and Sunday) are the days with the highest rate of engagement. Moreover, tweets are also effective during busy hours that is, 8AM to 7PM, in any day of the week, including Saturday and Sunday.

Finding out the best time to provide content in social media, especially that is often done with the intention of attracting more dealership auto leads, is as much important as knowing the best time to make sales calls in telemarketing. You don’t want to just throw content out of the window not knowing where will it land. Make sure that each of your effort counts.

2. Do not overdo tweets.

The study found that more tweets do not necessarily result in more effective engagement. The data showed that a maximum of 4 tweets a day is enough to capture audience. Tweet more and you will most likely lose engagement. In addition, the principle “the shorter, the better” also applies in tweets. The study found that tweets that have less than 100 characters receive engagement 17% higher than longer tweets do.

3. Utilize available resources.

Social networking sites are very capable of capturing prospects for you. You just have to know well how they work and what are they capable of to achieve that end. Twitter has many features that can help you engage more followers. Some of these are hashtags, links, photos, and videos. Hashtags help your tweet, as well as your profile and brand, to spread in the Twitter-sphere. You can also include a link in your tweet. Just make sure, though, that the links work; otherwise, you will lose engagement, as Buddy Media found. Meanwhile, photos and videos always work in grabbing attention and capturing audience interests.

4. Tell them what to do next.

This simply talks about calls to action and this can be easily done by telling people to retweet. Retweets increase engagement rate especially when you tell you directly tell your followers to retweet. However, make sure that your content, or tweet, is worth sharing with others. This could be challenging and you may be needing more creative minds in your dealership. Nevertheless, in social media marketing, do not forget to compel your prospects and your customers to take action.

Automotive Lead Generation – Don’t Take Content for Granted!

Posted on: August 31st, 2012 by credit

Many dealers do not realize it but the content of your dealership website or blog can greatly impact your automotive lead generation efforts, especially if you do it right. Whatever form of content marketing (blogs, social media, articles, white papers, ebooks, etc.) you are employing to generate car sales leads, consider the following basic principles in doing content marketing and learn how to do it more effectively.

The Topic

Finding a topic to write about is one of the most challenging aspects of content marketing as sometimes, fresh and interesting topics seem unavailable. Keep in mind that topics should always be relevant. Some great topics to write about for car shoppers are car reviews, automotive news, auto industry trends, tips, and information about the technical aspects of car buying.

Topics must be relevant and interesting because your goal in writing for car shoppers is to establish connection with potential customers. Thus, content must appeal to their needs and interests. Find out what car shoppers consider as hot today by talking to some of your leads, reading conversations of car shoppers and buyers in forums, and monitoring consumer behavior by subscribing to studies.

What Keywords?

The use of keywords may not be necessary in print and broadcast advertisements, but when you do it online, keywords become an important part of your content. Come up with a roster of most searched keywords through the help of a keyword research tool. Use these keywords in your articles. In this way, you will drive more traffic to your website, which could bring more leads and eventually turn into sales.

The Good Content

First thing that should be established here is your content should be non-promotional. Although you use content as an automotive lead generation tool, car shoppers would hate, or even not be interested at all, to read promotional materials. You will capture leads more when you give them information instead, which brings another characteristic of a good content: educational. Make sure that your readers will certainly get something useful from your articles. Articles must be simple and concise. Use only simple language and keep the articles short. Car shoppers do not always have all day to read a lengthy article. Lastly, a good content is something worth of being shared with others. This means that your content must be so good that your readers would love to share it via social media.

As Catchy as Odd

Make your content eye-catching by using attention-grabbing headlines and engaging graphics. Attach relevant photos, videos, infographics, or charts and tables to complement your article and to make them more interesting and understandable. In most cases, this is where you need to squeeze your creativity more.

Auto Loan Delinquencies Low, So What?

Posted on: August 22nd, 2012 by credit

The rate of auto loan delinquencies in the United States has dropped in this year’s second quarter according to the report by credit bureau TransUnion. Delinquency rate is down to 0.33 percent from 0.36 percent in the first quarter of this year. On a year-on-year comparison, it has dropped by 25 percent already since last year.

However, analysts from the reporting body TransUnion and another credit bureau Experian Automotive both said that the delinquency rate on auto loans will not continue to drop until the next quarter of this year but assured that it will still remain to be low.

The study found that borrowers have learned to put their car payments on top of their other credit obligations since the recession. This is because auto loan borrowers deem their cars as necessary and important for them to continue running their daily errands.

So, as a dealer, how should you respond to this recent trend in the auto lending aspect of the industry? Here are some ideas:

Stay online. If you are satisfied with the results you’re getting from your lead generation and general F&I efforts, keep being on the lookout for more finance auto leads in the Internet for they are surely coming in. The results of the TransUnion report might be telling you that borrowers are getting late in their payments less so there is really nothing to be so afraid of in dealing with them. In fact, an analyst from the credit bureau himself said that loans are gearing toward nonprime borrowers more. Stay where you are getting your finance auto leads from and focus on closing these deals.

Don’t play favoritism. Subprime leads are indeed hot in the industry now but it does not mean that you should only fix your eyes on them. Consider all kinds of borrowers and make sure you are not giving too much attention to one in expense of another.

Review your strategies. Do not be so satisfied if your lead generation and sales tactics are working well. Be reminded that you should review your plans and strategies regularly and see if they are still in-tune with the current behavior of consumers and the competition in the industry. Perhaps you can think of new tactics considering that borrowers now are more responsible with their car payments.

The decline in auto loan delinquencies is good news for the whole automotive industry. It encourages auto lenders to accommodate more borrowers and makes auto loan approval easier for borrowers. Keep track with the trends and find out where they might be pointing you.

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