Consumers are stretched thin at every level right now. With the Government shutdown, Corporations are laying off staff from their front lines and their corporate offices, grocery prices are skyrocketing, and the dollar is being stretched to extremes not seen in years. What can you do as a business owner to stay off the recession from your front door while providing consumers relief? Here is a list:
1) Financing: Banks are limiting their access to new credit lines. Offering them White Labeled Financing allows you to provide more accessible, direct-to-consumer lending. This allows your Service Writer to sell the job, and your consumer to make the bill digestible. White label financing ensures you get paid and you become the hero, not the problem. This is especially true after an inspection finds necessary repairs that the customer was not anticipating.
2) Loyalty Programs: Consumers are looking for more for their dollars. Adding in a loyalty program with discounts or other rewards entices your customers to come back to you over and over. With transactions you can more regularly count on, especially ones that are not a subscription-based model, make consumers feel good about their spending. You are now a resource, not a drain, and that makes all the difference.
3) Consistent Marketing: If you have an email marketing tool, now is the time to ramp it up. People are looking to stretch every penny, and maintenance tips and regular servicing are obviously the best way to ensure the longevity of vehicles. Helping people maintain their vehicles is what we all do—reminding them how, when, and why is the best way to help them stay on top of their vehicle care. Email is still the number one app on all smart devices; it remains the most effective way to reach people, no matter what social platform they are on. Email will help you reach your clients. To get going, verify the email you have on file is not in their spam folder, and begin to share messages that help them build confidence in you and their financial choice in working with you. Empowering your customers is one of the best ways to keep them loyal to your business.
4) Trends in Consumer Use: If you are running a convenience store, you are no stranger to seeing new candy bar or chip flavors roll out seasonally. In the drink section, you are seeing collabs and diet trends. Consumers like choice. Consumers like fads. Consumers like simple distractions that cost less than $5.00; you are perfectly positioned to help consumers get that fix. A recent study by Convenience Store News shows that 71% of consumers like trying new trends. Bring in new flavors and let your customers know you have what is new and exciting, and they will be there, excited about it.
This is a short list of tips, and you are welcome to call our office for more tips and specific guidance on your business. You know your business and customers best; we’re here to help you get them through the door or on the lift. We work for you, so let us do that.
Where do you find White Label Financing?
Reach out to our long-time Credit Processing Partners: CoCard
