Debbie Mckay Divisional Manager Key Accounts This is where we are now Products Account Management Service Appetite Commission Systems Lenders Setting Apart But It is not good enough for the future ID: 146052
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Slide1
Karl Werner – Head Of Sales & Marketing
Debbie Mckay – Divisional Manager Key AccountsSlide2
This is where we are now
Products
Account
Management
Service
Appetite
Commission
Systems
Lenders
Setting
Apart
But
It is not good enough for the future!
We need to be more consumer centricSlide3
Change is being driven by consumer power
90% of all vehicle sales now begin online
Regulation insists upon customer satisfaction
More competition from all sides
Innovation is vital in an improving economy
2014 – The Year of the Consumer
Meeting the customers needs is the only way to succeedSlide4
The 21
st
Century Customer
Increasing Web Finance & Car Sales Slide5
Those who offer more choice will win more customers
90%
use the internet to research
next vehicle
80%
sleep next to their
smartphone
54%
of dealer walk in’s are driven by
the internet
Your business can compete with every other dealership
70%+
of customers would
consider PCP
53%
start search with Monthly BudgetIf we don’t take care of the customer then someone else willSlide6
FCA “The Opportunity”
There is significant opportunity within the FCA changes that should result in major gains in POS finance penetrations over time
Key Issues that the industry have to consider are:
Staff incentives and commission models
How the customer rate is determined
Ensuring fair outcomes for consumers
Affordability assessment of the consumers
System controls, reporting, training and competence Slide7
Consumer Focused Approached
In New Regulatory Future
Lenders who support a new
and
sustainable consumer/dealer centric
model that embraces the power and reach of the digital channel
Lenders who develop products & services for todays customer
Lenders who are dedicated to
adding value to dealers and brokers
Lenders who lead the way on industry wide initiatives
Lenders who offer more choice to the consumer
Lenders who support a consumer based model will help dealers
sell more cars
to
sell more financeSlide8
Setting Lenders Apart
8
Help Dealers & Brokers retain more customers
Help the customer afford a wider range of vehicles
Help Dealers compete when your asleep
Give the consumer more information and choice
Help the consumer arrange finance online
Protect POS Finance from the return of Direct Lenders
Offering more choice and greater affordability
Is truly Treating Customers FairlySlide9
HP+
PCP
Lease-Purchase
VAT Assist
Hire Purchase
Rate4Risk
Commission
Appetite
Service
Account
Management
System
Lenders To Support The Consumer Buying Process
Finance Advice
Speed & Convenience
Online Account
Discount Shopping Holiday
Increase Retention
Sell More CarsSlide10
ANY
QUESTIONS?