Auto Finance Marketing 101

auto-loan

Even with the supply chain issues disrupting the new and used car markets, the automotive financing market continues to grow. The changing economy might be creating uncertainty among car buyers, but they are still searching for vehicles and looking for quick and easy financing options.

Take a look at some marketing tips and trends to help increase financing sales.

Financing Visibility on Website

Consumers are doing more research about their financing options, and they are conducting it sooner in their buying process. Maximizing visibility across the website, especially on the homepage, will help to capture consumers’ attention.

A clearly visible link on the homepage to the finance application or the financing page will help consumers who are researching find the answers they need quickly and help convert financing research into sales.

Make Financing Options and Process Convenient

Car buyers are looking for convenience and want the financing process to be as simple and streamlined as possible. A marketing strategy that provides easy-to-access tools for customers to get their credit checks done and get their financing online can help turn a buyer doing research into a customer that purchases a vehicle.

Since many buyers prefer to perform many of their transactions online instead of in-person, using both online and in-person channels will provide customers with the tools and options to complete as many steps as they want at home before they have to walk through the dealership door, if they have to at all.

Optimizing Mobile Sites

It’s not a surprise that mobile phones have changed how car buyers research and shop. Many people will use their phones to find the car they want, compare prices between dealerships, find a dealership, and research their car loan options.

Dealerships that invest in mobile ads can see a significant increase in sales because it’s where many of their customer’s shop. The sales increase from mobile ads is even higher than sales that result from traditional marketing strategies.

The New Car Market Is Coming Back

After supply chain issues stalled the new car market, it’s coming back, and many car buyers believe it is an excellent time to get a good deal on a vehicle and get a good financing deal. Focusing marketing on manufacturer financing promotions at this time is a good strategy.

Using Social Media To Educate

Young car buyers consume tons of online content, so the best way to attract customers at every stage of the financing process is to provide educational content about each step. High-quality, trustworthy blogs will attract readers looking for information about car loans. The earlier you attract a prospect in their research process, the more likely you will close the deal on the sale of the vehicle and the sale of the financing.

When publishing content for your blog, always include a banner that links it to your finance page or to a loan calculator. A marketing strategy that focuses on financing will help increase sales whether prospective customers are shopping for a new or used car

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