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Dealership Marketing EFG Companies Featured

Building Brand Trust and Customer Advocates

In the highly integrated world of online reviews and social media, many dealerships and lending institutions are struggling with building consumer confidence online. According to recent studies by R.V. Polk/Auto Trader and Google/Shopper Sciences, the average car shopper begins researching online. After hours of research and referencing about 18 sources, they narrow down their dealerships and financing options to only one or two before making the first hand shake.

These sources range from friends and family to anonymous reviews. Dealers and lenders now operate in this strange new world where they no longer control the flow of information. It’s no longer just about getting the customer to your door, but also about directing the conversation and what people read about you.

So how do you build trust in your brand online? The answer is simple – open consistent communication.

Before the internet, businesses held the power of information. Selling practices focused on sharing that information with customers on site, rather than over the phone. Now, the customer has the power of information and you need to openly communicate with them via any means available, including:

  • email;
  • phone;
  • social media; and,
  • on your website.

But the buck doesn’t stop there. Before you even begin to engage with your customers, you need develop your core message, whether it’s family, customer service, or engagement focused. That core message will impact all avenues of communication.

By remaining consistent and active, you can direct the conversation rather than react to it. Build consumer advocates by encouraging people to share their stories and by quickly responding to both positive and negative feedback. In fact, ignoring or deleting negative posts is one of the worst things you can do online as it demonstrates lack of empathy. By responding, you prove to the general public that you take your customers seriously and will work with them to provide the best experience both online and off.

With over 35 years of consumer insights and a dedicated team of marketing professionals, EFG Companies can help you take a proactive approach to your online reputation with proprietary tools that broaden and deepen your reach and expertise. If you are ready to direct the conversation, contact us today.

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EFG Companies F&I

Auto Sales Rose 10% This Year. Want to Beat That?

According to a recent Bloomberg survey, auto sales are on pace to rise at least 10 percent for the third consecutive year. The U.S. sales rate exceeded the 14.5 million pace, which was the average estimate of 16 analysts in Bloomberg’s survey. This rate is the best industry sales pace since 14.95 million in March 2008, according to the Automotive News data center.

September highlights:

  • Chrysler sales rose 12 percent to 142,041 vehicles for its 30th straight gain
  • GM’s sales rose 1.5 percent
  • Toyota Motor Corp. led with the biggest gain, with sales surging 42 percent
  • Honda boosted sales by 31 percent

Does it sound like Americans are beginning to raise their heads and purchase the big-ticket items they’ve been holding off on? They might be. However, the pain and fear caused by the economic turmoil of the past few years translates to smarter purchasing decisions combined with wariness of job instability. For example, small cars with better gas mileage are on pace to capture the largest share of the U.S. auto market since 1993. Do you remember what was happening in 1993? Like today, we were on the tail end of a recession and on the precipice of new economic growth and 22 million new jobs.

So, what if you could empower consumers to take action – get over the hump and make a decision about a new vehicle purchase, while at the same time differentiate your dealership from the competition?

Now, you can with WALKAWAY® — the industry’s first and only debt cancellation vehicle return program. WALKAWAY® enhances customer satisfaction by empowering consumers to make their next vehicle purchase with confidence, knowing that if unforeseen life events occur, they are protected. This unique program also gives you a proactive way to manage risk by adopting a strategy that decreases repossessions and collection costs and strengthens margins and profitability by closing more sales and enhancing loan volumes.

Provided by EFG Companies, the innovators behind the renowned Hyundai Assurance program, WALKAWAY® has proven to help sell more cars, differentiate dealerships in a crowded market, save deals, and drive additional revenue with upgrade opportunities.

Contact EFG today for a complimentary analysis on how the program will impact your business.

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EFG Companies Lending Services

Interested in Increasing Loan Performance? Have a Profitable Discussion with EFG at the 2012 Auto Finance Summit

At EFG, we know there’s nothing more interesting than increasing profits and loan performance with custom financial solutions. Stop by the EFG Vault, booth #305, at this year’s Auto Finance Summit to discover how we have proven success in increasing look-to-book ratios and loan volume at financial institutions across the U.S.

It’s never too early to increase your profits. But when you do… increase them with EFG.

What Can You Expect?

EFG Companies will be in the Vault at the Auto Finance Summit, showing you how using customized strategies for auto lending and leasing can increase your profits and loan volume, while delivering a unique experience for your customers. After all, creating a great borrowing experience for your customers will help ensure that they continue to do business with you while sending business your way as well.

The EFG Vault, accessible Tuesday from 8 a.m. to 7 p.m. and Wednesday from 8 a.m. to 11:15 a.m., offers a chance for your financial institution to learn more about auto lending and leasing strategies that will improve your business margin and generate successful results for your institution. So what can you expect at The EFG Vault in booth 305?

  •  Find out how to take advantage of training solutions, IT platforms and quoting systems designed to increase loan performance.
  • Check out proactive marketing strategies that attract lucrative customer relationships.
  • Learn about custom solutions, private-labeled products and finance product bundles.

 Why EFG Companies?

As a leader in profitable auto lending and leasing solutions in the U.S., EFG Companies has a proven track record of look-to-book ratios and loan volume increases at financial institutions like yours, all across the country. So it comes as no surprise that, as a platinum sponsor and featured exhibitor at the 2012 Auto Finance Summit, the largest auto finance summit in the industry today, EFG Companies will be at The EFG Vault, sharing the inside scoop on systems and products that can help your institution attract more clients and increase revenue.

The EFG Vault is the one you want to attend. Visit us today at www.efgcompanies.com/interesting. For more information on the Auto Finance Summit, visit www.autofinancesummit.com today.

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