By John Flynn, Open Lending President & CEO
We are all facing challenges as we work together through the COVID-19 pandemic to continue serving customers and members. Consumers are uncertain about the near future, staying at home under orders from their states and not spending like they were just a few short weeks ago. It’s more important than ever to get your message out while you’re balancing lower revenue and investment in your companies.
In addition to Federal COVID Loan programs, private companies are stepping up to provide hard-hit businesses to help get their message out to those in need. Now is the time to take advantage of some of these offers to grow your auto loan business in the short term and to make your programs stronger for the future.
Ensure you're advertising where your customers are. While many are working from home, they’re more likely to be scrolling through their social media feeds. Facebook has announced that it will grant more than $100 million in ads to businesses during the crisis. Google has joined suit, offering over $300 million in ads to small- and mid-size businesses to help during these difficult times. To get the most of these offers, make sure you’re doing more to up your marketing game.
Many digital marketers are offering free courses to help you grow business online. Take advantage of these offers. Digital Marketer has made their flagship “Lab-Plus” course free, Ahrefs (a SEO tool), is offering a blogging for business course at no cost, and the HOTH is now offering multiple courses at no cost, including content marketing, local SEO and other hot topics. Moz Academy is also offering courses on SEO, page optimization, keywords and others to help you get ahead in these difficult times (use promo code “wegotthis”).
Leveraging your new knowledge and free advertising, many tools exist to help you get your
templates to help you engage and gather information from consumers. And of course, don’t forget about our great strategic partner, Ser Tech’s credit data-driven marketing services.
If you want more help on your digital marketing, you can also check out UberSuggest from Neil Patel to build keywords to support your content marketing strategy. Benchmark is offering free email marketing and creation tools, as is Chamelion.io and Hatchbuck.
But, if you’re already an expert in these spaces, new tools are also available at low cost for you to try out. Check out LoanLeadGenerator’s automated chatbot to integrate into your website and social media pages to engage your potential borrowers across all loan types, including vehicles. Not only can it integrate with your CRM and LOS system, but it leverages AI and Natural Language Processing to engage consumers.
Yes, things are different now, but it doesn’t have to mean the end of auto loans. Working with new partners can help maintain your business and help keep it moving forward.