Top 10 ways to boost Electric Vehicle Finance Conversions

By jayjohnrobert@gmail.com

Generating quality vehicle finance leads that have a high probability of conversion is always going to be a challenge.   The green vehicle market is a relatively new one, but there have been some remarkable developments, and with the new Net Zero by 2050 goals, and the ban on petrol and diesel vehicles by 2030 – there’ll be a lot of people planning to upgrade.

Many are already looking to make the switch to a greener eco car, to cut carbon emissions and save on fuel. The leads are out there – but what makes a good electric vehicle finance prospect, and how do you source the kind that actually convert? 

 When it comes to identifying good electric car finance prospects,  there are some things you can do to sort the wheat from the chaff – read on to discover our top 10 list of things you should look out for.

Top 10 things you need to know about leads for Electric Vehicle Finance

 

  1. Know the benefits –  There are a number of benefits to Battery Electric Vehicles (BEV’s) – and if you’re going to convert prospects, you need to understand how to sell the benefits.  Savings for an EV can add up to around £850 per year, while consumers can slash their annual spend even more due to the reduction of maintenance expense, thanks to regenerative braking, which helps save the brake pads and rotors.  Then there’s the environmental benefits –  BEV’s offer zero tailpipe emissions, and lower noise factor, which also translates into a more enjoyable driving experience for many motorists.  Many will also appreciate the improved handling, a result of the lower centre of gravity due to the weight and positioning of the batteries, as well as the enhanced responsiveness, a benefit of the electric motor
  2. More people are thinking about purchasing an EV –  Demand is intensifying for electric cars and many more insurance providers now offer finance options for the latest models.  The sector is on the up and up, and demand will swiftly scale, so it’s an excellent area to focus on if you want to improve your prospects – and the chances of conversion.
  3. Segment your audience – Not all customers will be making the switch to electric for the same reasons, and it’s crucial to know what those reasons are.  This is where solid market research comes in, 40+ with families may be going greener with a view to creating a cleaner planet for future generations, while the 25-35 age group might want the latest Tesla model to impress their friends.  You’ll need to know the  information, so you can personalise the follow up later.
  4. Target interested customers ONLY – Not all leads are equal – and it’s important to qualify prospects first, so you don’t waste your time.  You can do this yourself, using a sales funnel, or you can save yourself the hassle by going through a lead company that knows their stuff, and can do all the hard work for you.
  5. Investing in a specialist lead feed – Lead generation companies can save you time and win you more business, by finding the Electric Vehicle Finance leads you need, and cutting down on the time it typically takes to qualify them.  This leaves you with a pile of likely prospects you can then follow up on – and close.
  6. Make sure compliance is covered too – new regulatory data protection and GDPR compliance can mean the leads you invest in aren’t worth the hassle, if they aren’t fully compliant.  In fact, by using them you could even be breaking the law, so make sure that when you purchase, you also get the assurance that prospects have fully opted in and all leads are GDPR compliant.
  7. You want the kind of leads that are expecting your call – You don’t want to waste hours plowing through a pile of leads that keep slamming down the phone.  It’s more productive to target prospects that have already expressed interest in purchasing an electric vehicle.  Leads that have completed a financial assessment, applied for finance, or requested more information on an electric vehicle model, are more likely to convert than generic leads that just happen to be in the right demographic.
  8. Fresh leads, not tired old stale ones – Hot leads that are new are the best – so focus on acquiring prospects that have just filled in their information. This is especially important when it comes to a big ticket buy like a new electric vehicle finance, as when people are thinking about splashing out, they are never more open to going through with a purchase than when they are motivated to take action.
  9. If you’re going to buy leads, choose the right company – As with the leads themselves, quality also matters when it comes to your choice of lead generation brand.  The brand you choose needs to know the market they are providing leads for inside out. Some companies sell leads that have literally been scrapped from mailing lists, without any discernible qualifying process.  Before you purchase, make sure the brand you’re buying from provides a lead screening process with a proven accuracy rate, so you know you aren’t just wasting your cash
  10. Play up the individual benefits on the close –  Remember that market research?  Once you know your audience segment and why they want a new electric vehicle, you can precision tailor the follow up and the close. Start with a pile of high quality, freshly qualified leads, then finish by playing up the benefits and hitting your target’s pain points/ desires.  You’ll dramatically up your conversion rate – and you’ll cut down on wasted time.

 

The Electric Vehicle market is expanding and models are becoming more affordable, which will only increase adoption rate.  It’s a great sector to plough if you’re looking to up your vehicle lease conversion rate, as many are now ready to make the switchover, if they can find the right finance deal.

If you’re currently struggling to source quality leads, you may want to consider opting for a lead generation service, so you can cut the time spent sourcing and then qualifying, and focus all your efforts on the close.

 1st Choice Leads are the lead generation specialists, have the market expertise needed to source,qualify and provide quality, fresh prospects within the Electric Vehicle sector.  Find out more about our expert lead generation service here.

About the Author:

jayjohnrobert@gmail.com

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