If you run an auto service shop and are looking for ways to bring in more revenue, this guide has you covered. Explore these insightful tips and kick your auto shop revenue generation into high gear.
Why Offering Financing is a Big Deal for Auto Shops
While the auto repair and service industry has been around for a while, there are many effective drivers of success for auto shops based on relatively recent technology. A great example of this is Digital Vehicle Inspections, or DVIs. Leaning into the modern predilection for heavy smartphone usage, DVIs driver higher sales and customer engagement by meeting customers where they are, driving increased car count and more financed revenue.
In a similar way, a modern financing program can be a core driver of success for practically any auto shop. Offering financing to customers through your own shop is not just a ‘nice-to-have;’ it is simply table stakes for any auto service business today.
Customers are trusting your shop with their vehicles, and that means they need to be able to feel like they can trust you. By offering financing options to every customer, every time, you are building in flexibility for the customers that serve as a foundation for greater trust and ultimately help you close more deals, driving increased revenue for your business.
Marketing Your Financing Program
Key to making the most of your financing program is marketing it effectively. FormPiper has found that customers will drive farther to have auto repair services performed at a shop that offers financing. The typical footprint for auto repair is 1-2 miles, while shops that offer financing options to customers are brining in customers from 5 miles away or more.
While this advantage is impressive, to attract those customers in the first place, you have to have a strong marketing plan. Don’t let your financing options be an afterthought at the bottom of the flier; make financing central to your marketing pitch in all materials, from fliers to mailers to posts on social media. After all, how can you sell something you don’t market?
Tuning Your Program for Success
In addition to establishing a strong consumer finance program, you also need to make sure that it is up to snuff in all areas. That’s where FormPiper can be a big help. As a comprehensive finance automation solution, FormPiper streamlines your application process, delivers convenient managed or self-managed services to meet your company’s specific needs, provides superior reporting right at your fingertips on one easy-to-use dashboard, and gives you access to a strong lending network, even adding your preferred lenders upon request.
Start exploring what FormPiper has to offer today and see for yourself why so many auto shops are turning to FormPiper to help take their financing programs to the next level, close more deals, and put more revenue in their pockets.
Looking to market your financing program? Contact us to review your marketing plan and we'll happily introduce you to our marketing agency partners as well!
