Persuade major car dealerships to switch finance providers and make the most of a lucrative sector they’re neglecting.
Before the credit crunch changed everything, sub-prime was the fastest-growing sector in motor finance, covering one in four potential car buyers. Yet many dealerships were either dismissing sub-prime as too much hassle, or finding that the loans they were able to offer were turning customers away. Slow decision making by lenders was also costing them business.
Already established as a broker, Warrington-based Blue Motor Finance possessed unique technology that meant they could offer more flexible rates, little different from conventional finance for many candidates. They were also able to offer decisions in around 15 minutes. So they decided to make the most of this technological leadership by becoming a lender. A major equity investment had been secured to make this possible.
Their challenge to Huet Aminto was to alert UK car dealerships to the new Blue offering - and persuade them to switch.
The core proposition we developed was: “Blue can offer you more flexible finance, more competitive rates for many sub-prime customers, and answers within 15 minutes. This will mean turning away less business from the fastest-growing kind of car buyer. The bottom line is, you’ll sell more cars.” Complex but compelling.
We communicated this in a twin-pronged campaign: one aimed at the industry as a whole and car sales people in particular; the other aimed at the ultimate decision makers, the CEOs of the 50 biggest car dealerships.
To give the concept of “keeping the one’s that got away” immediacy we developed a fishing theme. The 50 CEOs each received a mailshot including a real, full size keep-net.
The first year’s target for take-up by dealerships was achieved within three months.