Auto loans, and specifically subprime loans, have made headlines as of late. That’s because the auto industry is booming, which means there are more loans being given — and therefore, more automotive leads being generated. Auto financing interest generates $98 billion in revenue every year, and that number will likely continue to increase. Because there are more potential new leads for car loans out there, it’s important that you follow the best practices for effective auto finance lead generation.
You might be surprised to find out that your company might be missing a key opportunity to capitalize on all of the auto finance leads available. Here are just three rules that will allow your organization to generate better automotive leads:
More Isn’t Always Better
A lot of lenders are under the impression that the more leads you have, the better. The reality, though, is that high-quality leads that are handled effectively are going to be much better for your business than an ill-equipped employee bogged down with too many leads to handle. When an employee is struggling with too many new leads for car loans, your overall profit is actually compromised because there isn’t enough time to devote to each one. Remember to value quality over quantity so that your strategy doesn’t backfire.
Offer a Variety of Options
Although it’s good to have a niche, it can be beneficial to offer options for consumers at all stages of the loan process. So while you may specialize in subprime loans, diversifying your loan options a bit will mean that you’re able to provide solutions for more customers. Not only can this help you to obtain more new leads for car loans, but you’ll also be improving your brand’s visibility and integrity in the process.
Use Additional Tools
These days, having an easy-to-find website should just be a given. You won’t get points for that; at this point, customers expect it. You also can’t rely on just your website for auto lead generation. While it can help customers find you, you need to be doing more to locate those leads yourself. By using direct mail marketing and our lead generation services, you’ll have access to these customers and will generate better leads for your dealership.
Ready to start generating better automotive leads? CyberLead can help. For more info, get in touch with us today.
