This is an unbelievable story! But, before I explain how this works, we should talk about how the 3 Ps, people, process, and product, got us to these results. And, since you already have an excellent product, we will focus on people and processes.
It takes great people to make processes work. There are several talented and industrious people that got together to make this happen.
Sheri Sevik is the Assistant General Manager for World Hyundai in Matteson, IL and World Kia in Joliet, IL. Sheri is the ultimate Guerrilla marketer! Guerrilla marketing utilizes advertising methods through which unusual and low-budget strategies are used with the aim of reaching as many people as possible. She is always challenging herself to improve on her last successful campaign.
Rachel Dertz is the BDC Director at World Hyundai. Rachel is great multitasker! I watched her answer a call from a potential customer, scan their information, including reading their credit bureau report, and then making the customer feel comfortable keeping their appointment...more
The recently bankrupt consumer may be the most profitable segment of the entire subprime automotive category. Of course, the dealership must have the right lenders, the right inventory, the right marketing program, a Subprime Manager that understands the programs, and the willingness to work these profitable leads.
The return on the marketing investment can be 10X! For example, a dealer in Oklahoma recently shared with me that he spent just $2,400 in one month and made over $30,000 in gross profit on the sales that month from the leads generated. That’s an unbelievable return on investment!
The Right Lenders
Most all Subprime lenders will buy a recently discharged bankruptcy, but you need at least one of a handful of specialty lenders if you’re going to target recently filed Chapter 7 Bankruptcies. Who are those lenders?more