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How to Drive Response Rates in the Automotive Market

Michelle Peel

The automotive market is cruising at a steady rate.

In fact, IBISWorld reports the auto industry will grow at an annualized rate of 3.5% over the next five years due to higher consumer confidence and disposable income. This growth will drive an increased demand for cars and trucks and have auto vertical direct mail volumes riding in style.

According to market research firm Mintel Comperemedia, the auto vertical mailed nearly two billion pieces of mail from July 2012 – June 2013. There was also an 11% increase in direct mail offers from the automotive market between Q1-Q2 2012 and Q1-Q2 2013. The top auto manufacturing mailers during the first half of 2013 were General Motors, Chrysler and Ford. They mailed more than 166 million direct mail packages combined.

If consumers are buying cars and trucks, chances are they will need an auto loan, too. Auto loan direct mail volumes from July 2012 – June 2013 reached more than 250 million pieces of mail. The top auto loan mailers during the first half of 2013 were Capital One, MDA Capital and GBA with more than 54 million direct mail packages combined. Hot auto loan offers include:

  • 100% financing available
  • Easy to apply and fast approval
  • Fixed rate new and used car loans
  • Lower interest rates
  • No payment for 60 days

Need directions? Here are a few tips to drive auto loan direct mail response rates:

  • Fast track the loan process with a “pre-approved” card that contains your phone number as a call to action. Personalize the card specifically to the intended prospect so they feel as if they are getting a special offer. This will increase gross response rate (GRR) and return on investment (ROI).
  • Put applicants behind the wheel with a “pre-approved” check format that includes the dollar amount of the potential auto loan. And like a personalized (and “pre-approved”) card, include your phone number as a call to action.
  • Give your campaign more horsepower by engaging in cross-channel marketing. Direct applicants to the lender’s call center or auto loan page on its website. Better yet, test drive a custom landing page. Interested buyers will get exactly what they’re looking for with quick info and clear calls to action all in one place.

All of this automotive market research has me dreaming of a new car…perhaps I’ll take a black sports car for a test drive!

link https://www.iwco.com/blog/2013/08/16/automotive-market-response-rates/
Michelle Peel

Author

Michelle Peel

Marketing and Corporate Communications Manager and graduate of Elizabethtown College. Bringing the “make it happen” attitude to IWCO Direct for more than eight years and the direct marketing industry for more than 20. Favorite recognition: When her daughter was asked in school what she wants to be when she grows up, she responded, “Just like mom.” Pittsburgh Steelers fan who enjoys dancing, shopping, and spending time with family.

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