By Tony Willard
Money-saving marketing schemes could be the key to success for lenders and dealers as retail buyers strive to buy cars while rising energy and other bills add to pressure on disposable incomes.
Karl Werner, head of sales and marketing at MotoNovo Finance, said its discount shopping programme could save average customers up to £400 on everyday items. It provides discounts of up to 15%, and 5% at some of the most popular outlets, including Asda, Sainsbury’s and Morrisons.
Karl Werner, head of sales and marketing at MotoNovo Finance, said its discount shopping programme could save average customers up to £400 on everyday items.
“As a loyalty scheme it positions a dealer as the customer’s valued friend,” said Werner. “It is all about creating a customer for life and we also help dealers to create short-term tactical offers to create sales.”
MotoNovo also emails dealers to remind them when customers are due to buy another car: “Together, these two tools provide a significant differentiator between finance options and retain contact with customers. Also, dealers can visit the MotoNovo dealer hub to get ideas for direct marketing purposes.”
Werner said dealers liked hot leads, but it was hard to predict buyer behaviour.
“A request for a settlement does not automatically equal a lead,” he said. “On average, customers make 3.2 settlement requests during their agreement. An opportunity can all too easily equate to an inappropriate sales pitch.”
Paul Harrison, Finance & Leasing Association head of motor finance, said: “Marketing campaigns and incentivised deals play a role in encouraging customers into showrooms where finance is a vital tool in helping dealers to secure new and used car sales.”
FLA statistics show almost 75% of retail new car sales are funded by member finance companies, and about 25% of consumer used car purchases.