Effective Ways to Capture In-Market Car Buyers Who are Looking to Purchase Now - AutoSuccessOnline

Effective Ways to Capture In-Market Car Buyers Who are Looking to Purchase Now

We know that all dealerships are not created equal when it comes to helping consumers with subprime credit. Most dealers don’t have the lenders, inventory or knowledge to help these people.

We know that all dealerships are not created equal when it comes to helping consumers with subprime credit. Most dealers don’t have the lenders, inventory or knowledge to help these people.

We all know that every day, subprime consumers walk into the wrong dealership and are told they have bad credit and cannot be helped. Subprime consumers also don’t wear a sign when entering a dealership announcing their score or credit situation, so most of the time they land on the wrong car, something that is too expensive or unfinanceable for them. Once this happens, they end up leaving the dealership feeling dejected. Many of them are sure they will hear the same thing from every other dealer, so their search for a vehicle ends right there.

If you are a dealership with the right lenders, inventory and the ability to help subprime consumers, then consider “trigger” programs. You will have the advantage of knowing when every subprime consumer in your market has their credit bureau pulled by a competitor, bank or lender for the purposes of automobile financing.

They are called trigger programs because once the consumer has their credit bureau pulled, a trigger notification is created, identifying that this consumer is in the market now. Every morning a fresh list of these shoppers becomes available.

This is one of the most targeted lists available and the response rates prove it. As most people know, you are lucky to get a 1 percent response from most traditional mail campaigns, while it’s relatively common to see response rates from 4 percent to 7 percent from a properly run trigger program.

Many of these consumers also have phone numbers that are not on the national “do not call” list. That means you or a professional call center can contact these customers the day after they shopped, even before they receive the Firm Offer of Credit in the mail. When they receive a call notifying them that they have been prequalified for automobile financing at a dealership near them, they will most likely think that you don’t know they were turned down somewhere else, and they will happily listen to your offer. They are also easier to work with upon arrival at the dealership. Unlike their last visit to a dealership, you can work the deal the correct way the first time, along with any bank documents that may be needed.

Another key component of a trigger program is taking advantage of the fact the mail goes out every day. You can’t wait and mail these consumers weekly or monthly. These are some of the most valuable prospects, so it is extremely important to send out a high-quality mail piece with the correct message and first-class postage with a live stamp.

When setting up your trigger program, make sure you select the correct credit criteria that fits your lenders and your inventory. You can choose the FICO score, age, income, open, filed or discharged BKs, no repos in the last 12 months, you can even choose customers who have not financed a vehicle in the last 18 months (which helps prevent people from being upside down). You can also choose positive trade lines needed; it’s great to have a high response, but you want financeable customers as well.

Now that you understand that this valuable program works, it’s time to pull the trigger and capitalize on the extra sales and revenue this program will generate for you. I would be more than happy to answer any questions you may have. Feel free to contact me through the email above.


Click here to view more solutions from Robb Azaren and Direct 2 Dealer Marketing LLC.

You May Also Like

Top 3 Ways to Avoid Warranty Audit Headaches in 2024

Avoiding warranty claim debits can be a daunting task, fraught with complicated processes and procedures.

warranty audit headaches

As we move into 2024, one of the most important things that fixed operations managers can do is to ensure that every precious dollar is collected from a dealership’s warranty claims for credit.

When considering the job of avoiding warranty claim debits, it can be a daunting task, fraught with many different and sometimes complicated processes and procedures.

Identifying Gaps in Digital Retailing Solutions & 5 Easy Fixes

Inconsistencies slow the purchase process, erode consumer trust and eliminate the willingness to purchase.

Identifying Gaps in Digital Retailing Solutions & 5 Easy Fixes
The SMS Paradigm: Reshaping Customer Engagement in the Automotive Industry

By reaching out through SMS, we have tapped into the potential of a less invasive, yet highly effective, method of communication.

The SMS Paradigm: Reshaping Customer Engagement in the Automotive Industry
Bridging the Communication Gap: Dispelling the Opt-in Text Myth in Dealership CRMs

There are common misconceptions harbored by some CRM providers in the automotive industry that are hindering dealers’ communications with their customers.

Navigating the AI Era: Is Your Car Dealership Ready to Thrive or Fade Away?

Dealers who want to survive this paradigm shift need to invest in modern leadership coaching and relevant sales training, building a solid team based on the same core values, powerful vision and mission.

Salespeople and dealers who cultivate relationships and create loyalty with their buyers will persevere. Buyers valuing relationships will invest in the premium.

Other Posts

Don’t Be ‘Nice’ to Your Team — Be Caring

Here are four steps to take to lead a team that minimizes critical actions and will put our team members on the path to success.

team leadership
The Top 3 Reasons You’re Missing on Used Vehicles

As front-end profits tighten, misses on used vehicles hurt more. To tighten up acquisition and pricing, you need a different way of operating.

The Top 3 Reasons You’re Missing on Used Vehicles - AutoVision
Is a Vehicle Test Drive Still Relevant Today?

An important part of the process, the test drive is the strongest opportunity to build the customer’s positive emotions around the vehicle.

Is a Vehicle Test Drive Still Relevant Today?
Is Marketing Both the Problem and Solution for the EV Market?

Marketing can answer consumers’ questions and demystify the EV buying journey.

Is Marketing Both the Problem and Solution for the EV Market? myAutoIQ article