Come Out, Come Out Wherever You Are
I’ve made no secrets about how I think auto lenders should be more innovative and engaged when it comes to social networking. It is an untapped well of opportunity for lenders, from pre-sales marketing to post-sales collection efforts.
As a beloved owner of an iPhone and iPad, I am all too familiar with the notice that pops up on my screen when I install many new apps. The message usually goes something like, “(such and such application) would like to send you push notifications.” In most cases, I approve the request and go about my daily business.
More and more companies are employing location-based products, services, and features. These features range from notifying customers of items on their to-do lists that can be done based on their current location to telling people what friends are nearby.
Along with the multitude of benefits that go along with having an app on a customer’s phone, there are a wealth of perks that can be realized by utilizing the location-based functionality on a smartphone.
It’s a very handy way for companies to know where their customers are at any point in time. It could be a very, very handy tool for auto lenders, too.
Lenders who know the precise location of their borrowers would be able to send them specific alerts if they were near a bank branch (to pay their bill) or a dealership (to buy a new car). In the ultimate case, knowing where a borrower is means likely knowing where the borrower’s car is, too, which could be very useful in the event a repossession is needed.
Lenders and other financial services institutions are definitely moving in the direction of smartphone apps and embracing technology on all levels. It may not be moving as quickly as the technology is evolving, but at least it’s moving forward.
I’ve made no secrets about how I think auto lenders should be more innovative and engaged when it comes to social networking. It is an untapped well of opportunity for lenders, from pre-sales marketing to post-sales collection efforts.
As a beloved owner of an iPhone and iPad, I am all too familiar with the notice that pops up on my screen when I install many new apps. The message usually goes something like, “(such and such application) would like to send you push notifications.” In most cases, I approve the request and go about my daily business.
More and more companies are employing location-based products, services, and features. These features range from notifying customers of items on their to-do lists that can be done based on their current location to telling people what friends are nearby.
Along with the multitude of benefits that go along with having an app on a customer’s phone, there are a wealth of perks that can be realized by utilizing the location-based functionality on a smartphone.
It’s a very handy way for companies to know where their customers are at any point in time. It could be a very, very handy tool for auto lenders, too.
Lenders who know the precise location of their borrowers would be able to send them specific alerts if they were near a bank branch (to pay their bill) or a dealership (to buy a new car). In the ultimate case, knowing where a borrower is means likely knowing where the borrower’s car is, too, which could be very useful in the event a repossession is needed.
Lenders and other financial services institutions are definitely moving in the direction of smartphone apps and embracing technology on all levels. It may not be moving as quickly as the technology is evolving, but at least it’s moving forward.
