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Why You Should Not Stop Pursuing Finance Auto Leads

Posted on: June 13th, 2012 by credit

Finance auto leads are not easy to pursue and to convert. Follow-up is a tiring task that would not even turn in good results sometimes. You may also be thinking that you could be wasting your time on following up leads instead of finding other leads with higher conversion rates. You may also feel like giving up on pursuing finance auto leads but, you should not lose heart; they will eventually turn into sales. How is that going to be possible?

Easier Access to Auto Financing

The latest report released by Experian this year says that automotive lending is becoming stronger, making auto financing easier for consumers. The report shows that the average credit score of consumers seeking auto financing fell to 760 for new car buyers and 659 for used car buyers. Moreover, automotive lenders and dealers have been offering lower interest rates. New cars and used cars are financed at an average of 4.5 percent and 9 percent, respectively. Loan terms are also longer now, allowing borrowers to make lower monthly payments.

Less Risk

According to Experian’s director of automotive credit, borrowers have been doing a good job repaying their loans in the past quarters and the percentage of dollars at risk is also now at its lowest in six years. This means that there is less risk for you now to deal with people seeking financing for their cars. Moreover, the report also highlights that there are lower numbers of loan delinquencies and auto repossessions. Thus, with auto loans made more available to consumers, it is then easier for them to say yes to your deal as long as you give them an irresistible offer.

More Competitive Offers

The fact is, and as other dealers have said, automotive lending has loosened up a bit and is getting more aggressive and competitive. Good loan terms are no longer confined to good credit borrowers. Banks, which had been the most unwilling lending institution to accommodate bad credit borrowers, are now becoming more aggressive, accommodating consumers with lower credit scores and offering them better terms and lower interest rates. Other lenders now also have zero interest and no money down loan programs. Moreover, old finance auto leads are now back in the market, as some dealers have observed, and with better loan terms, it is more certain that you could turn them into sales if you keep on pursuing them.

Numbers show that even if the automotive industry had experienced a crisis 2 years ago, lenders are now already back in the game of making money and they are doing it in a more competitive manner this time. Therefore, you have to keep pace with the competition and never lose those leads that you’ve already got by making your offers as competitive as possible.

Ever Wondered Why You Don’t Make Much Sales Out of Your Auto Finance Leads?

Posted on: June 13th, 2012 by credit

There are many reasons why you are not making much sales out of your auto finance leads. However, just enumerating them would not help you get better in converting your leads into sales. You need to discover at which part you are slacking off and do something about it. To help you start with, here are some common mistakes in handling auto finance leads which you might also see yourself doing.

First is choosing quantity over quality. Wherever marketing strategy these two apply, it is a mistake to focus too much on producing more without checking the quality of what is produced. For example, whether you are buying leads from a lead generation company or generating them on your own, you, just like many car dealers, have the tendency to concentrate more on generating more leads than checking if they are of good quality. Keep in mind that no matter how many leads you have, you will not get the expected result of more auto finance leads converting into sales if you have been generating bad leads.

Secondly, you are not making that much sales because you might be pulling off marketing strategies that offer your prospects no value. Whether you realize it or not, it is more effective to give out promotional newsletters, for example, to your prospects if they contain information that could be helpful to their needs. Your dealership website could be lacking content as well. An effective content that could drive traffic to your site is reviews of various car models.

Thirdly, you might be practicing poor marketing strategies. For example, your landing page could be dull that it has no power to even keep your prospects interested until they heed your call to action. You might also be using SEO techniques abusively. Keep in mind that the way you carry out any marketing technique influences the quality of the auto finance leads you will be generating. If you want quality leads that convert into sales, use marketing strategies wisely and appropriately.

Lastly, another possible reason why your leads are not turning into sales is the lack of follow-up. It is not just enough to generate quality leads and contact them the first time. You need to work on them constantly until they make a decision. According to a survey, leads convert after 90 days. This means that car dealers like you should really spend time and effort following up your leads until they finally close.

As a final note, investing in dealership marketing also means investing your time and effort to make every strategy successful in bringing you more sales. It does not happen overnight; you have to work your way up.

Reminders for Buying Leads

Posted on: June 1st, 2012 by credit

Buying leads from a third party provider is indeed more convenient for car dealers and other businesses. Lead generation involves implementation of various marketing strategies which should be done on a regular basis. Balancing this with other dealership tasks, like dealership advertising and lead conversion, is a struggle for many car dealers. Sometimes, car dealers spend so much time on generating leads in expense of other important tasks. Although buying leads requires them to shell out extra cash, having a lead generation company like Approved Auto Leads take off a heavy work load is still such a relief. However, dealers like you should have to keep some important things in mind when buying leads.

1. Make sure the lead provider can help you.

Since you want to achieve success in your dealership, it is just important that you work with a reliable and competent lead generation company. Not all lead providers work their best in generating leads for their clients. So, spend some time researching about your lead provider—their track record, BBB rating, years of experience, complaints filed against them, and the like. A lead provider with more years of experience in the industry is most likely credible. Moreover, find out if your lead provider is also getting leads from a third party. If so, ask them about how they make sure they are getting quality leads.

2. You should only buy quality leads.

Quality is a very important factor to consider when buying leads. Quality leads are those that are fresh, most likely to be converted, and have complete contact information. Lead providers produce quality leads if the leads they have generated undergo a screening process before being delivered to their clients. The screening process involves information verification and lead qualification. Quality leads are also produced if lead generation techniques were appropriately and strategically executed. Ask your lead provider about the various techniques they use and how they do them.

3. Leads must be delivered fast.

Buy leads from a lead provider that sends you leads quickly. This is important because if leads are not delivered fast, you will lose the interest of your prospects. Moreover, your competitors could get to them first. Your lead provider should understand this and be able to deliver you leads as quickly as possible.

4. Be more concerned about the conversion rate than the price.

When you buy leads, make sure that they will most likely convert into sales. Keep in mind that the price of the leads and their conversion rates always have to do something with each other. High converting leads are usually expensive while those that have low conversion rates are cheaper. In any event, focus on the leads’ capability of boosting your sales. Leads are a good investment especially if you know you are buying good ones. Moreover, it is also useless to buy leads that would not convert at all.

Using PPC in Generating More Automotive Leads

Posted on: June 1st, 2012 by credit

PPC or pay-per-click marketing is an internet marketing strategy that aims to drive traffic to a website by publishing ads in websites and search engine results pages. From the name itself, pay-per-click, advertisers here pay publishers for every click that their ads get. In other words, advertisers pay for their website’s traffic. The cost per click is sometimes at a flat rate or bid-based. Like search engine optimization or SEO, keywords are also important in PPC marketing. Advertisers should use keywords in their ads that are relevant to their prospects’ behavior and needs.

PPC marketing is proven to be one of the most effective internet marketing strategies. It indeed drives traffic to a website and generates leads for businesses. This is also true with car dealerships. Many dealers now have been investing in paying traffic for their dealership websites by displaying PPC ads.

To effectively generate automotive leads through PPC marketing, dealers not only have to know the right keywords to use but should also be able to create compelling text. Do not just advertise your dealership website by putting up ads. Make your ad trigger your prospects to click on it by engaging them. How would you do that? Create a compelling text. Remember that PPC ads are just like snippets which occupy little space in websites and search engine results pages. Thus, you can only tell so much to your prospects so tell them immediately what they need to do.

PPC marketing is like inviting someone to come over at your place. Once your guest agrees to visit you at home, you would want your house to be at its best, wouldn’t you? In the same way, if you are successful with creating a compelling text and making your prospects click on your ad, welcome them with a pleasant landing page. Displaying an ad that captures prospects is not the end of your PPC marketing campaign. Keep them and convert them into sales by creating a competent landing page. Therefore, put effort in creating and designing your landing page to successfully convert automotive leads into sales. Make them do another thing that is, to purchase from your dealership.

Indeed, PPC marketing is an effective lead generation technique for your dealership. If you are hiring the services of a lead generation company, like Approved Auto Leads, to generate leads for you, make sure that they are also knowledgeable in this kind of marketing strategy which not only promotes your dealership but also captures prospects.

How to Capture More Auto Internet Leads

Posted on: May 31st, 2012 by credit

The Internet has been helping a lot of businesses generate more revenue. In the automotive industry, it has led dealers to turn online and even get social to promote their dealerships and acquire more sales. Auto internet leads have indeed been a competitive edge for car dealers. However, some are not maximizing the power of the Internet in generating leads and turning them into sales. Below are some tips on capturing more auto internet leads effectively.

While the Internet gives car dealers the competitive edge in the market, it also makes the competition tighter and tighter. To capture more internet leads and rise above the competition, you should learn from what your thriving competitors are doing. Know how and where they are getting their leads from. Observe their strategies and behavior. For example, if a dealer is acquiring more prospects in doing forum marketing, you might want to try it for your dealership as well.

Aside from observing your competitors’ moves, look at your prospects’ behavior, too. Behavior here refers to the attitude and response of your prospects toward your marketing efforts. What are the websites they usually go to? What pages in your website do they usually spend more time visiting? Do they enquire about your dealership by filling out your form? Do they respond to your emails, social media posts, or direct mails? Study and analyze your prospects’ attitudes and response and tailor your marketing efforts according to their behavior. In this way, you will be increasing your chances of capturing more auto internet leads.

Since you are capturing leads from the internet, make sure that your internet marketing strategies are appropriate and efficient. One of the most effective marketing strategies in the internet is SEO. The key to pulling off a successful SEO campaign is knowing and using the right keywords. Master this technique by doing more research about the most searched keywords related to your business and use them strategically, appropriately, and legally in your content. Maximize their usage by even renaming your photos with a relevant keyword. Do this and speed up your improvement in being more visible in search engine results pages.

Lastly, be valuable. Do not just generate leads for merely promoting your dealership. You would not capture more leads with this sole reason. To add value to your marketing efforts and dealership, provide your prospects some benefits like helpful information that could even address their concerns. By doing this, you are not only being valuable but you are also winning their trust and building your credibility. Remember that your content is directly communicates with your prospects so, make sure that they are effective.

Remember that auto internet leads need more aggressive approach. If you are able to do the aforementioned tips rightly, you could expect improvement and better results for your dealership.

 
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