AM Online

Car dealers' finance lead management is set to improve in 2015

Alphera Financial Services UK, which reported record double digit sales growth in 2014, plans to develop new levels of customer lead management this year, said Kirk Franks, head of national sales.

“We want to support our dealers to improve penetration and profitability,” he said. “This will ensure we make use of all available products and produce innovative marketing strategies to engage with increasingly savvy consumers.”

Franks said Alphera, which supplies loans for car models outside BMW Group, was working with dealers to ensure their sales processes were Financial Conduct Authority compliant.

 “Relationship management is a key driver for most dealers in both the pre- and post-sale process,” he said. Alphera would this year launch eMaster, an information reporting system to help dealers manage vital customer relationships.

“The pilot scheme yielded excellent results for selected dealers and our business development managers will be demonstrating the system further in 2015,” he said.

Shaun Harris, sales director at Codeweavers, believes dealers should aim to improve customer satisfaction by ensuring a finance process that takes under 15 minutes. “Online finance tools are vital to delivering this,” he said.

Harris said new research published in the USA reported that the most highly satisfied finance customers spent 15 minutes or less “discussing and signing the final paperwork.” After 30 minutes, satisfaction levels fell rapidly.

Harris said the study also reported the need to reduce waiting times to speak to a business manager.

“This customer impatience highlights two areas dealers need to focus on,” he said. “One is the reality that the sheer convenience of the dealer finance process needs to be highlighted online, where customers will generally have found their vehicles.”
 

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Login to comment

Comments

No comments have been made yet.