By: Robert O'Hara, VP Strategic Alliances, GrooveCar & CU Xpress Lease
Industry buzz on capturing the business of the millennial member is abound. Don’t fret, we can have you up and running in two weeks, looking like a boss and serving this growth segment. Seriously.
I have been reading a lot of industry publications that focus on getting ready for the flood of millennial car buyers. I have news for you…If you are on the GrooveCar program, you are ready. If you’re not, no worries, we can have you up and serving millennial members in a two-week time frame, no joke.
This is an exciting time for the automotive industry, after bursting out of the Great Recession we have had years of double-digit growth. There’s a good distance of road between then and now and auto loan growth at credit unions is poised to continue this trend. We don’t have to think too long and hard to remember how depressing this was for our industry. Better times are here and industry analysts offer strong indicators there’s a lot of opportunity to take advantage of. With millennials accounting for a third car purchases across the U.S., and growing, your credit union needs to be in it, to win it.
Let’s start with winning the millennial member over. Folks, there are millions of auto-buying sites on the internet. Why would a member give your auto resource a look? Trust. Because there are so many sites vying for their attention, your credit union’s auto resource stands out in the crowd as place they won’t have to worry about being ripped off or have their identity taken for a ride, literally.
Trust alone won’t keep them there, serving the member with what they are looking for, will. An interactive website, robust graphics and auto shopping tools, is everything to a member on-the-go using their phone or in the privacy of their home or office, convenience will keep them with you. The road has been paved for you to get out and meet the member online. The next question is: How to attract them to your auto resource?
Strategy. Rethinking how you engage with members is part of the strategy that will get them to visit your online platform. Marketing programs have been designed by GrooveCar to educate, inform and attract members, to you. We feel strongly about strategy, and included with every program is live consulting and collateral materials:
- Customized video library
- Digital Media Portfolio
- Preferred Dealer Network Assistance
- Marketing Strategy Meetings
- One-on-One Consulting
The timing has never been better to get in it, to win it. Give me a call, together we will jumpstart your auto loan portfolio.