HAUPPAUGUE, N.Y.—GrooveCar has released a new white paper titled, “Drive Auto Loan Growth with Interactive Member Engagement.”
The white paper outlines the GrooveCar Direct program for credit unions and is available for download here.
The white paper contains valuable information and guidance for credit unions as they embark on engagement strategies, lead generation and loan capturing activities, according to GrooveCar.
“The white paper was produced after nearly a year of research and development, pulling together industry trends and best practices into one cohesive document,” GrooveCar said. “The purpose of the white paper is to educate credit unions on the new approach to auto loan growth. It explains how offering more than just rate will boost profitability, becoming part of the lasting approach to auto loan growth.
According to GrooveCar, the white paper includes in-depth overview of:
- Engagement strategies
- Lead generation features and descriptions
- Built-in resources
- Auto loan growth
‘Actionable Insights’
“GrooveCar was one of the first companies to optimize this online process. We knew early on a digital presence could capture the first spark of interest in a member as they looked to purchase a new or pre-owned vehicle,” said Robert O’Hara, VP of Strategic Alliances. “This program benefits our credit union partners’ relationship with their members while enhancing the overall performance of auto loan portfolios. The white paper is loaded with actionable insights that won’t disappoint.”
The compiled information will help to explain the importance of providing an online auto shopping site, and the role a credit union can play to increase their success in capturing more loans.
“What has worked in the past, may not continue to work in the future,” the company said. “GrooveCar inspires credit unions to look at auto loan growth activities differently. When adding an auto resource, a credit union will now find itself competing on a higher level than ever before. The white paper explains how the journey to the point-of-sale can start with a focus that doesn’t have to be dependent on rates alone.”
This comprehensive white paper also discusses the importance of lead generation.
“Lead generation is designed around great content found throughout the platform, the white paper explains in detail the methodology behind these features for loan growth and engagement,” said O’Hara.
The white paper also examines how to get started with this feature-rich, digital sales tool.