Wednesday, June 11 2008
| Special Finance Insider Insights |
June 11, 2008 |
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Bankruptcies Big in First 5 Months of '08
The first quarter of 2008 was a busy one in all bankruptcy court districts. According the American Bankruptcy Institute (ABI), "The total number of U.S. bankruptcies filed during the first three months of 2008 ... Continue Reading |
| The Westlake Waterfall |
| Like many finance companies, Westlake has a full spectrum of products available. To read in-depth information on their programs, click here. |
| Comparing Average Gross Profits
How do your average SF total-deal gross profits in May 2008 compare to your average SF total-deal gross profits in February 2008.
- Up $250 or more per deal
- Up slightly
- About the same
- Down slightly
- Down significantly
- Down horrifically
Click here to submit your answer |
Ensuring Quicker Funding
Log into AutoDealerMonthly.com to view this Best Idea
To ensure quicker funding is to maintain a deal checklist system. No, this isn't the funding checklist most every lender has. We have actually put it into place with every retail deal we contract - including conventional.
There are two checklists. One for the salesperson, and one for the finance office. Continue Reading | |
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Sincerely,
Greg Goebel
Special Finance Insider | | |
Wednesday, June 11 2008
Please read and reflect. Perspective can be very difficult to keep especially when so many have none.
Jay Leno's stirring questions and comments about living in America.
No matter what your political convictions are this is eye opener.
What a thankless people we are!!!
Jay Leno wrote this; it's the Jay Leno we don't often see. ...
As most of you know I am not a President Bush fan, nor have I ever been, but this is not about Bush, it is about us, as Americans, and it seems to hit the mark.
'The other day I was reading Newsweek magazine and came across some Poll data I found rather hard to believe. It must be true given the source, right?< BR>
The Newsweek poll alleges that 67 percent of Americans are unhappy with the direction the country is headed and 69 percent of the country is unhappy with the performance of the President. In essence 2/3 of the citizenry just ain't happy and want a change. So being the knuckle dragger I am, I started thinking, 'What are we so unhappy about?''
A. Is it that we have electricity and running water 24 hours a day, 7 Days a week?
B. Is our unhappiness the result of having air conditioning in the summer and heating in the winter?
C. Could it be that 95.4 percent of these unhappy folks have a job?
D. Maybe it is the ability to walk into a grocery store at any time and see more food in moments than Darfur has seen in the last year?
E. Maybe it is the ability to drive our cars and trucks from the Pacific Ocean to the Atlantic Ocean without having to present identification papers as we move through each state?
F. Or possibly the hundreds of clean and safe motels we would find along the way that can provide temporary shelter?
G. I guess having thousands of restaurants with varying cuisine from around the world is just not good enough either.
H. Or could it be that when we wreck our car, emergency workers show up and provide services to help all and even send a helicopter to take you to the hospital.
I. Perhaps you are one of the 70 percent of Americans who own a home.
J. You may be upset with knowing that in the unfortunate case of a fire, a group of trained firefighters will appear in moments and use top notch equipment to extinguish the flames, thus saving you, your family, and your belongings.
K. Or if, while at home watching one of your many flat screen TVs, a burglar or prowler intrudes, an officer equipped with a gun and a bullet-proof vest will come to defend you and your family against attack or loss.
L. This all in the backdrop of a neighborhood free of bombs or militias raping and pillaging the residents. Neighborhoods where 90% of teenagers own cell phones and computers.
M. How about the complete religious, social and political freedoms we enjoy that are the envy of everyone in the world?
Maybe that is what has 67% of you folks unhappy.
Fact is, we are the largest group of ungrateful, spoiled brats the world has ever seen. No wonder the world loves the U. S. , yet has a great disdain for its citizens. They see us for what we are. The most blessed people in the world who do nothing but complain about what we don't have, and what we hate about the country instead of thanking the good Lord we live here.
I know, I know. What about the president who took us into war and has no plan to get us out? The president who has a measly 31 percent approval rating? Is this the same president who guided the nation in the dark days after 9/11? The president that cut taxes to bring an economy out of recession? Could this be the same guy who has been called every name in the book for succeeding in keeping all the spoiled ungrateful brats safe from terrorist attacks? The commander in chief of an all-volunteer army that is out there defending you and me?
Did you hear how bad the President is on the news or talk show? Did this news affect you so much, make you so unhappy you couldn't take a look around for yourself and see all the good things and be glad? Think about it...... are you upset at the President because he actually caused you personal pain OR is it because the 'Media' told you he was failing to kiss your sorry ungrateful behind every day. Make no mistake about it.
The troops in Iraq and Afghanistan have volunteered to serve, and in many cases may have died for your freedom. There is currently no draft in this country. They didn't have to go. They are able to refuse to go and end up with either a ''general'' discharge, an 'other than honorable'' discharge or, worst case scenario, a ''dishonorable'' discharge after a few days in the brig.
So why then the flat-out discontentment in the minds of 69 percent of Americans?
Say what you want but I blame it on the media. If it bleeds it leads and they specialize in bad news. Everybody will watch a car crash with blood and guts. How many will watch kids selling lemonade at the corner? The media knows this and media outlets are for-profit corporat ions. They offer what sells, and when criticized, try to defend their actions by 'justifying' them in one way or another. Just ask why they tried to allow a murderer like O. J. Simpson to write a book about how he didn't kill his wife, but if he did he would have done it this way...... Insane!
Turn off the TV, burn Newsweek, and use the New York Time s for the botto m of your bird cage. Then start being grateful for all we have as country. There is exponentially more good than bad. We are among the most blessed people on Earth and should thank God several times a day, or at least be thankful and appreciative.' 'With hurricanes, tornados, fires out of control, mud slides, flooding, severe thunderstorms tearing up the country from one end to another, and with the threat of bird flu and terrorist attacks, 'Are we sure this is a good time to take God out of the Pledge of Allegiance?'
Jay Leno
Thursday, June 05 2008
How to Write a Killer Car Ad: The Classic AIDA Style Never Goes Out of Style |
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The more things change in business, the more they stay the same. The things that worked in advertising 50 years ago continue to work today. Yes, times and technology have changed, but people haven't?at least, not the way we react to effective advertising. An effective ad for a car dealer will have even more impact since there are so few ads out there that are well done. In the sea of auto advertising, a well-done ad will stand out and get noticed. |
When writing any type of advertising, there are two critical points you must never forget:
1. Most people don't make a buying decision based on logic. They buy based on their emotions.
2. People don't want to feel like they're being coerced or pushed into anything. They want to feel like they arrived at a buying decision completely of their own free will. They need the freedom of choice.
Now go back and read point number two again. There's a very fine line between the customer's choice and persuasion. However, if you are going to have success in special finance, you must learn the distinction and master the art of vehicle selection and re-selection. You must realize this distinction in your advertising and understand that the attention-getter in a car ad is how a certain car will change a person's image. A vehicle says a lot about someone's personality. Even though people need reliable transportation, they want image. Looking good and feeling good are important emotional influences to consider when writing effective sales material in the car business. |
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Writing an effective car advertisement is really quite simple. In fact, you can learn all of the basics in this article. If you consistently apply these basic fundamentals, you will see your traffic rise and your phone ring more often.
You must write every single ad using the classic AIDA formula:
A=Attention
I=Interest
D=Desire
A=Action
Let's break down each letter to provide a better understanding of the formula:
A = Attention
The very first thing your ad must do is grab your prospects attention. The very best way to do that is with an effective headline that answers this question: "What's in it for me?" That's all your prospects really care about.
What makes the title of this article an effective headline? Two things: First of all, I answered the "What's in it for me?" question. Secondly, the headline made you read this article. That is the whole point! You want your prospects to read your ads. For example, if you offer guaranteed financing at your store a good headline would be: "$100 Credit Guarantee."
I = Interest
After you get your prospects' attention, you want to get them interested in your dealership, your vehicles and your sales program. You do that by immediately telling them what your headline promises. Get to the point! Tell them what they want to know, starting with the very first word, and continue to tell them throughout the ad. If you keep them interested, they'll keep reading and start building a desire to learn more about you. Continuing with our example, the information/interest section would be something like:
"We guarantee financing that will help you re-establish the strong credit you deserve. In order to qualify, you must meet the following criteria:
- Two Weeks on the Job
- Take Home at Least $200 per Week
- Qualifying Proof of Residence
- Valid Driver's License"
Be careful to stay away from the perception of a gimmick. These simple parameters let the prospects qualify themselves, which brings credibility to your offer. If you claim that everyone qualifies for a loan regardless of their credit, it will come across as a gimmick and won't be believable. Too many car dealers over-promise and under-deliver, especially when it comes to special financing.
D = Desire
You have to make your prospects desire more information about your dealership and want your vehicles. The way to do that is with benefits! Now that doesn't mean you need to list options like PW, PL, Tilt, Cruise, etc. These mean nothing and do not build desire.. Instead, use powerful imagery to describe the vehicles. Describe the color with words like "Cobalt Blue Clearcoat Finish" instead of "Dark Blue." Describe the image of the driver instead of the options: "Perfect for today's busy family," for a mini-van, or "Slide into the cockpit of this incredible machine, built for performance," for a sports car.
The primary concern of customers who buy pre-owned vehicles is the fear of getting a bad deal. Realize this and do everything you can to build value in your image and reputation to alleviate this fear and increase desire. Remember to keep telling them what your headline promised and push their emotional hot buttons. Let them imagine what they stand to lose if they don't purchase. Use emotional impact words or power words: new, save, amazing, free, guaranteed, security, no-risk, look younger, feel better, absolutely, just in, enormous, etc!.
A = Action
You want to close your ad with a call to action! All effective ads need to do so. In other words, ask them to do something: "Call today. Visit our Web site. Apply now for your instant approval. Don't waste another minute! Call our Finance Specialist NOW!"
Follow this formula faithfully and it will not let you down.
The fuel that ignites an effective ad is the message contained in it. This message must get through to your prospects one at a time. These people react to your message once they connect with you and feel compelled to act. So, the real key to your success is connecting with your prospects one-to-one. Take a look at your own buying behavior and you will realize that you buy from people who you connect with, people you trust. You feel good when you buy a product that you could have purchased from hundreds of different individuals, but instead you chose to buy from someone you have gotten to know a little bit.
An effective ad captures a prospect's attention among the competition and creates a desire for your product that leads that prospect to act and become your new customer. Advertising is an absolute necessity in business. However, don't expect it to do the job of your sales force. Effective advertising will bring prospects to you, but you need trained people to sell and serve these ready-to-buy customers.
One last thought on writing ads is that many of the people who sell advertising know very little about effective advertising. They will offer to create your ads for free, which is usually not a great deal. These are sales reps who make money by selling, not writing. Occasionally, you may find a fantastic writer who also sells ads, but it's not very likely. My advice is to follow these simple guidelines yourself and get your staff involved in the process. Let the creativity flow and dare to be different.
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Thursday, January 18 2007
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Issue 1 - January 2007
7 Marketing Trends to Watch in ?07
Want to know where to invest your online marketing dollars in 2007? Here are the 7 most important trends for '07 and how to make the most of them to increase sales and grow your business in the New Year.
1. Purchasing Decisions
When asked how often they researched products online before buying, 87% of respondents to a ClickZ survey said they did. Additionally, more than 35% of all B2B decision makers spend five or more hours every week researching product and service information, according to the CMO Council. These statistics are proof that in today's business environment, a strong online presence and giving buyers easy access to your product information is not only important, it's a necessity.
2. Search Engine Optimization
With so much hype about search engine optimization and getting that number one spot in the search engines, everyone knows the drill: use metatags, title tags, keywords, etc. But the important thing to remember is that search engines are constantly working to make search more effective for end users. So while following proper SEO techniques matters, what is more crucial is truly understanding how buyers are searching for your product or service, and leveraging that information to ensure search engines - and ultimately buyers - find your business. To succeed, focus on the foundation: a targeted message that addresses buyers' needs and then employ SEO best practices. Other factors to consider: the best place to find relevant traffic might be on vertical search engines. Also, placing links on prominent industry websites and online directories are powerful ways to highlight your business in a place where targeted buyers are already searching for your products. You can find a list of SEO providers in the BtoB Industry Directory.
3. Online Video Ads
BtoB marketers are constantly seeking new strategies for engaging buyers in a more interactive way, and the newest trend toward accomplishing that goal is online videos. In fact, eMarketer predicts that spending on online video advertising will soar this year, increasing by an astounding 89%. As the technology becomes increasingly sophisticated, rich media companies are bringing near-TV quality to online advertising and offering marketers new opportunites. An example: Citrix worked with multi-media company 4What Interactive to build a self-running animated software demonstration, which is used as a clear and concise stand-alone sales presentation. Citrix is able to cross-promote the video through existing marketing avenues, including their website, salespeople, emails and search engines. Video has growing appeal due to marketers' ability to track leads, conduct real-time analysis and measure effectiveness.
4. Online Advertising Spending
As ad dollars continue to shift to the internet, spending for online advertising is projected to grow to about $7.7 billion in 2007, according to ClickZ. That is more than a 31% increase over 2006. Online ad spending increases have been driven by the growing ability to measure campaigns effectively. In today's market, the question isn't whether to advertise online - that's a given - but rather how to spend those dollars wisely. It's not about buying clicks cheaply, but rather about buying the right clicks. Make sure you're reaching the right people. The CPM or CPC to reach targeted buyers might be higher, but so will your return on investment. The bottom line, like so many things in life, is that quality is more important than quantity.
5. Lead Generation
The proliferation of data readily available online actually creates an opportunity for marketers to generate leads. BtoB buyers rely on the "information superhighway" to do their jobs better and find the products they need. In order to get their hands on good information, buyers are willing to divulge some personal data, such as email addresses and phone numbers - but only if what they get in return is relevant and valuable. Value could be in the form of a deal or discount, but it could also be intellectual capital such as white papers on hot industry topics or case studies showing how their peers solved a common challenge. Positioning yourself as an expert source of reliable information, providing value-adds or offering special pricing online, could open a treasure chest of lead generation opportunities.
6. Targeted Messaging
With so many choices online for BtoB buyers, and the inundation of emails in their inboxes, ensuring the messages offered to potential buyers are highly targeted is crucial. Speak directly to your audience's specific wants and needs, and don't waste their time by loading them down with unwanted information. In addition, with all the technology available for managing databases, target markets can be more tightly defined, segregated, sorted, compiled and marketed to, providing a higher return. The key here is segmentation. Divide your audience into highly targeted segments so you can send information that's focused to their particular wants and needs.
7. Management of Your Online Reputation
Remember back in high school, when you were worried about your reputation? You found out someone was spreading rumors about you, but you didn't know who it was? It's not so different in the business world today. With the popularity of blogs, message boards and other forms of user-generated content, perceptions about products and services - both good and bad - can spread around the globe at lightning speed, making it difficult for marketers to monitor what is being said. Because a great brand can take months, if not years, and millions of dollars to build, it should be the thing businesses hold most precious. If you can't control what others say online, you can influence people's opinions about your business. First "Google" your company and see what turns up in the search results. Secondly, regularly post your own opinions and responses on your website and contribute to relevant blogs and forums. Take steps to create your own blog or message board and regularly issue optimized press releases. Another avenue to consider is hiring a company that offers "brand monitoring" services, which provide intelligence about online usage and distribution. To succeed, protecting your brand and online reputation is probably the most important marketing trend for 2007. |
Sunday, October 22 2006
1. Is your site appealing to all your markets?
Do you have different potential buyers for different aspects of your products and services? Is there content on your site that's designed for each of these? Have you considered whether your Web audience might be different from your traditional markets, and if so, whether you can exploit that?
2. Does your content engage your visitors?
Your site should be written from your visitors' point of view, not yours. Does your home page clearly recognize why the reader might be there - what's in it for them, and why they should care? What are the problems or issues that they might have, and how will you solve them?
3. Do you make your case?
If you claim that your products or services achieve results, do you have clear content on your site that substantiates this? Do you have case studies, sample client lists, and testimonials from happy customers? Third party endorsements are worth far more than your own promotional text, and they should be spread throughout your site, not relegated to a separate page that few visitors will go to.
4. Do you position yourself as an expert?
One of the most effective ways to get exposure is to publish articles, and white papers around your area of expertise. Even if you sell widgets, you can help people get the most out of using them! Articles on your site will be picked up by the search engines, and you can also offer them to publications that your target markets read - always with a link back, or reference to your site, of course.
5. Do you ask for the business?
Whatever the outcomes that you want from your site, you need to ask for it. Too many Web pages end weakly, with no clear calls to action. Don't make your visitors have to work to decide what to do next - they won't! Every page on your site should have a strategy - invite the visitor to interact with you, or go to the next page, but make it easy and obvious.
6. Do you have a diversified promotional strategy?
Don't depend on free search engines to get you traffic. Are you exploring other ways of promoting your site - such as using your content and articles, advertising in e-zines, appending a signature file to your e-mail, regularly sending updates to your database, and ensuring that your traditional marketing is integrated with your online activities?
7. Are you reviewing your traffic analysis?
Last, but really key - your Website traffic reports will tell you what's working and what isn't. Without this information, you're really shooting in the dark - what if you were to find that the majority of your hard-earned visitors never go beyond your home page?
This isn't an exhaustive list, but it's a good start. I hope that your Web site passes the test!
Friday, August 18 2006
I was just so desperately wanting to offer my clients a new innovative way to do direct mail. There has already been such great response with the 25,000 Piece General Saturation pieces we offer and incredible response to our FastApps Email Marketing Program that it only made sense to combine them!!! Why should our dealers have either or? Why not offer a service that has it all? That's why we came up with "The Complete Mail Marketing Solution.
We even provide Abatex Signs! I'm sure you've never heard of Abatex! It's new this year! Is a sign you cna use over and over!. You can stick it to your window or your floor, your car, even your lot if you want!! It's been tested at 500 mile per hour winds! It's been washed in the washing machine! It still sticks!!! Over and over.
Our Complete Mail Marketing Solution isn't offered anywhere else, but through us or our brokers. You can't get it anywhere else! It has it all!
Mail, E-mail, Credit Applications, Abatex Sign, Automatic Touch Tone Response System, "IVR", Call Tracking Toll Free Numbers, Hang Tags, Giant 8-10Ft Helium Balloon, Interactive Website for Code Activation, Guest Sign In Sheets, and more!
How it works:
1st the customer may choose to go online and activate the code, thereby generating a "lead" to your dealership with the shoppers "contact information".
2nd the customer may choose to call the dealership, to activate his/her code... wait....Auto Technologies also provides a national toll free number and or local #'s, so even IF, the call does not get answered... the callers "ID" is captured in the system! You never miss a call!!!
3rd the recipient may bring their code to the dealership for activation. Wait..., There's so much more!
Now, as you may recall I indicated there are 100,000 Email Pieces sent out also. Those email pieces correlate with the Mail Piece offering the same incentive, or can lead to a Credit Application! You can't lose! You get email leads, ups, calls, and applications!!!
The program offers an incentive of your choice. A "Highly Perceived Value Premium" works best. For instance $1000 online Shopping Sprees or Mini Vacations, etc...."Pre - Loaded" Visa or Wal-Mart Cards, etc....
In order to receive the Incentive, the customers have to activate their code.
All incoming calls from Email and Postal mail are captured in the tracking system and it comes with a "Follow Up" mailer! That's right. Remember I told you if they call the number the customer's info is captured? That info is exported into labels and the customer is sent a follow up letter !
On top of all of this, you are provided with a 40 inch "REUSABLE "fabric sign for your window. It's made from the new innovative Fabric Media you've been hearing so much about. It sticks to any surface and leaves no residual! You can use it over and over.
Email Marketing Done Right - We've been lied to - It's not all about the "Open",...initially
Roberta LongToyota & GMC; Preferred Vendor- Marketing & Eccomerce
What emails yield the highest open rates, and which are relevant to your campaigns success?
Let's begin by addressing the "Open".
It's not enough to get the email solicitation (for lack of a better word... perhaps informational piece? Nah.. we all know it's a solicitation...
Any email deployment company can promise high open rates, but if they aren't opening the message for the right reason it will yield limited results. We have tested this time and again.
Example Market Test:
We deploy an email campaign with the subject line: "What do you think of Candi's new Bikini?", and yield an impressive 15% track-able open rate. Not bad ... if that's my only goal... We'll call that subject line "A".
We launch another email to the same business prospect list, this time with the subject line "B"; "Dealers add profit with Security System Installs". "B" yields a mere 2.5% open rate... but wait...
Now you may think the first subject line is the way to go, however let me share further results...
Test Subject line "A" received 5 click-throughs to the landing page with further details and order options.
Test Subject line "B" received 200 click-throughs to the landing page with further details and order options
The question is.. what are we trying to sell? Security Systems? or "Pictures of girls in Bikinis"...
Which yielded the best return?....
The fact is, "it's not all about open rates"... It's about relevancy. Now.., what could we do with the contact records of those who "Opened" our email based on a relevant Subject Line?.... We now know they are in the market or have a need or interest in what we have to offer, based on the fact that they opened, our relevant subject line... and what could we do with the contact records... the knowledge of which business prospect took further action; i.e. clicked through, based on that 'relevant" subject line?
This leads me to the final word in my headline...'initially"... Once an email is opened based on a relevant subject line....action was taken (click through), the highest yielding "OPEN", on an outbound email marketing lead generating initiative is the "follow-up" email to those recipients who opened and read your initial email based on a relevant subject line. We've seen anywhere from 35% clear up to 65% open rates on follow up letters... Now how could this change your prospecting efforts?
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