Sub Prime is 40% of The Car Business Today!

Posted: February 19, 2015 in Uncategorized
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auto-black-pieceThat’s right, four in ten vehicles sold the past 11 months have been to consumers with credit scores of 640 and below.(Source WSJ, Equifax) That is the highest level since 2007. This reflects the relative health of the US economy and lenders willing to jump in and take more risk.

Also, many new “non bank lenders” are coming out with personal loans and other types of financing geared toward sub prime borrowers. So as the competition heats up for all this “Sub Prime Business,” are you taking advantage of the opportunity?

The Internet can only go so far when it comes to true targeted Sub Prime direct marketing. When a car dealer wants to be relevant to a specific market like credit scores of say 500 to 640, direct mail marketing is still the only way to deliver a “one to one” message that is unique and relevant to each and every customer.

Delivering the right message that is relevant to each customer is just the beginning. Once the customer receives the good news about the auto loan, the work has just begun. We must now convince them to reach out and do something about it. Giving the customer different ways to respond is critical. Some like to call, some like to “log on,” and yet others still like to just come down to the dealership. Make sure you have all bases covered.

To accomplish all this, you must have a strong well built:

  • IVR (Interactive Voice Response System) allows 24/7 action
  • Direct mail piece complete with plastic card and complex variable data capabilities
  • CRM (Track the leads, make sure your people follow up)
  • Targeted updated “real time” data scraped straight from the credit bureau
  • Personal URL (Many customers want to log on and find out more info) 24/7 as well
With over 28 years experience, call the direct/digital marketing experts today and start taking advantage of all this Sub Prime business! Call Todd Vowell, owner at Buy Mail Direct/Digital Car Leads now at 916-580-5190.

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