In a recent post, we talked about how automation doesn't have to be impersonal. About how, when it is used correctly, automation can actually enhance the customer experience. This lesson is particularly relevant as it relates to consumer financing automation. If you have a consumer finance program up and running, then you are probably aware of the inefficiencies that often come along during the application process and how they can negatively impact the customer experience.
Consider the following scenario. A customer comes into your store, eager to make a purchase. They've decided ahead of time that they want to finance their purchase, and your salesperson offers them that option. It's a perfect match. But then the actual application process drags the whole experience down. To submit applications to multiple lenders, your team member has to perform duplicate data entry. Your customer gets tired of waiting around or maybe even gets demoralized by not getting an instant approval. And then you go from "I'm ready to buy right now!" to "I'll have to come back later."
Put yourself in that customer's shoes. If you had to deal with that kind of inconvenience, would you stay or go? And if you left, would you actually come back later?
This is where automation comes into play. By leveraging FormPiper, businesses can automate their consumer financing process, and streamline the application step in particular through managed or self-managed services. Here are a few of the ways FormPiper keeps customers engaged and the financing process moving smoothly:
Rather than having to fill out applications for every lender, FormPiper fills multiple forms with a single click, eliminating duplicate data entry and freeing up your employees to focus on more valuable work.
Want to know how your consumer finance program is performing? FormPiper provides a convenient reporting dashboard so you can view all the relevant data in one place. Not only will this dashboard allow you to quickly determine which of your team members are performing well and which ones might need remedial training, it will also help you easily track lender performance.
For their convenience, your customers will be able to fill out online applications in-store or from the comfort of their homes from any device. Lending applications can also be texted directly to customers and integrated into billing. This makes things substantially easier for your customer and lowers that initial barrier of, "do I really want to deal with this right now?"
Automation doesn't just mean machines taking over human roles; it refers to the implementation of tools and processes to remove manual steps and make things easier for the people involved. Leveraged correctly, automation, and particularly consumer financing automation, is a powerful option in your toolkit for delivering a premier customer experience.
By exploring all that FormPiper has to offer, from eliminating duplicate data entry and making it easier to manage and track your lenders to providing a convenient reporting dashboard and making the initial application process simpler for your customers, you will set your consumer financing program up for new levels of success. It's a great way to boost your revenue and strengthen your customer relationships for years to come.