Credit bureaus – not only are they great for qualifying customers, but they are also great for generating new business! When it comes to qualifying, bureaus provide the necessary insights to determine what type of vehicle, price point, etc. for a prospect. As for generating new business, bureaus can tell you who has been out shopping within your target audience in the last 24-hours. This is done through five simple steps.
Here’s what you need to do.
(step 1) Identify your target audience by credit score and geographical location. (step 2) Request a lead count that matches your needs to determine how many leads are available. An average dealer getting 1,500 leads per month can expect a 4-6% response rate and a 2.4% close ratio. For example, let’s say your goal is to sell 25 additional units a month off a bureau program. To reach this goal, you would need to target around 1,500 people. Based off the response rate, that would give you an estimated sales revenue of $62,500. For this scenario, the average program costs $3,500 a month. Not bad ROI right?! Feel free to plug in your goals with our calculator.
If you decide the program is a good fit, then the next step is to (step 3) fill out some easy paperwork. Don’t worry about getting locked into a contract because we believe in our program so much that we would never hold a customer hostage. (step 4) Approve your direct mail piece, aka firm offer of credit, and send it out. Whether the mail is taken care of on your end or ours, it is important to dot every i and cross every t. Our checkpoint system takes care of the compliance component and removes the burden for you.
Next it’s time to (step 5) work your leads. There are multiple channels for your leads to funnel through. They can walk in with the mail piece, call the dealership direct, call our 24/7 live operators, and/or go online to submit a web inquiry. If you have the BDC option, our team of Stuker trained phone experts will handle your outbound and inbound phone calls to help your dealership set more appointments. All the leads, are tracked and managed through a customized CRM built specifically for your team. If you ever have any questions, our 24/7 customer service team is here to help.