Author: efgmarketing

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EFG Companies F&I

Open Up New Streams of Green

moneyAs gas prices continue to rise and consumers implement more wary buying practices, it’s clear that the transition seen in 2012 will only continue in 2013. Is your team prepared to sell new models ranging from horsepower-heavy models to groundbreaking fuel efficient models to the recession-hardened consumer?

The one thing all consumers are looking for is a way to save a buck! Whether they are looking for higher-end vehicles, or standard commuter cars, they all care about the impact on their wallets. And, with a fiscal cliff continuing to gain press coverage, they are still wary about the potential for job loss.

How can you overcome their reservations? With strategic F&I products that keep their savings intact when unexpected circumstances occur, such as:

  • Major mechanical breakdown
  • Involuntary unemployment
  • Paint & upholstery damage
  • Body panel damage
  • Tire & Wheel damage
  • Total Loss

These products not only benefit your dealership with increased revenue and upsell opportunities, they help your sales-force provide the final hook to close a sale. With pent-up demand, consumers are looking to buy. Give them a reason to buy from you by offering products that keep their finances secure.

With over 35 years in administrating consumer protection products, EFG Companies is committed to the continuous development of innovative products, services and go-to-market strategies that differentiate our clients from the herd. Find out how we can help you transition to a more profitable future.

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EFG Companies F&I

Show Your Customers Some Love

iStock_000018300149_MediumAccording to ISR economist, Richard Curtin, Director of the Thomson Reuters/University of Michigan Surveys of Consumers, American consumers have become much more optimistic about future economic prospects. In fact, they have become so optimistic that most economists think the economy is incapable of delivering the rapid pace of growth consumers expect.

What does this mean?

This means that while consumer spending is up for the moment with increases in consumer credit and personal disposable income, as the fiscal cliff looms, spending can be cut short dramatically. Even with personal income slowly rising, people are still searching for ways to save money. Coupon clipping became a necessity during the recession and consumers today pay much more attention to competing discounts.

The dealerships and financial institutions that survived the recession and are positioned to thrive today are the ones who took the position that cars can’t sell themselves. These dealers and financial institutions understand that gaining love and trust from their customers directly translates to increased revenue with fewer drop-offs in service and increased repeat vehicle loans.

For this reason, lenders and dealers alike are working to give customers more for their money and build stronger relationships with bundled F&I products. Bundling differentiates your dealership or lending institution among competitors by demonstrating that:

  1. you understand your customers’ needs and concerns; and,
  2. you are willing to build trust and loyalty.

In doing so, you generate the opportunity to gain greater income with upsell opportunities.

With over 35 years in consumer finance, EFG Companies, knows how to build profitable relationships with customers by giving them another way to save. EFG has developed several F&I products that can be bundled or sold separately. Two of the most successful products include Drive Forever Limited Lifetime Powertrain and WALKAWAY®, the program behind the award-winning Hyundai Assurance.

By saving their customers money and providing quality service with EFG, dealerships and financial institutions are primed to make their customers, customers for a lifetime.

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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.