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Objective |
Our customer offers non-status car finance packages, in much the same way as
Direct Car Finance which currently advertises on UK television.
Prior to using us, he would leaflet members of the public as well as use newspaper advertising to reach them. Our customer reported to us that, although the leaflet campaigns and newspaper advertising was successful, the cost of acquiring a new customer was still high. Added to this, many potential customers were lost when they went into a showroom which already offered non-status finance. He felt like he was creating the market for other companies.
Our customer was also looking to reduce the workload on himself. There is much more to securing non-status finance for someone than just taking down their details - more often than not, the customer needed to provide proof of identification and other financial information to get their loan. Arranging finance was a long procedure for our customer.
We were called to help. Our customer was looking for another way to reach potential customers. Using fax, he believed he could reach them at work. After a long talk about his business, we suggested he go down the proven route of finding vendor showrooms - that is, car dealers which automatically use his services if a customer can not get standard finance.
This way, he would get the invisible sales force that a vendor network could offer, plus he would be freed of much of the paperwork requirements as they would be collected on-site by the car dealer. |
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Who were they
targeting?
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Our customer was targeting car dealers in the UK. In order to give the impression that the company was a large player in the field, he only put a faxback number on the fax piece (no telephone number) and the title of the page was headed "Application
Form". |
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What were the
results? |
The results were superb. Out of all the dealers whom we faxed, there were 52 faxbacks within the first 3 weeks. Out of this 52, seven dealers now use our customer as their first contact for non-status finance. On average, each dealer places four proposals with our customer in a calendar month. |
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CURRENT MARKET
UPDATE |
Since the credit crunch began in
2007, it's been interesting for the marketers of
financial products to businesses. On the one
hand, customers need finance more than ever and
actual funders are more reluctant to lend.
What does this mean for you? Cost-per-lead
hasn't changed that mcuh in the last three
years, but cost-per-sale has because of the
shortage of funding. Faxing is still a good
route to market (on average producing one
enquiry for every 2,500 faxes sent out) but be
prepared to work on more cases that come to
nothing because of the credit collapse. The
business is out there just as before but budget
more for those who actually complete their
loans. |
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| All figures given are based on customer correspondence
with us. Fax marketing is a form of advertising, and as
with all advertising it can be successful as well as
unsuccessful. We do not guarantee any level of response.
Stories covered on this website range from 2001 to the
present day and were written at various points during
this time. All stories and accounts may not be currently
active. |
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