American Financial Services Association - Industry Expertise | Strategic Video Engagement: The Game-Changer in Future-Ready Auto Finance
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Industry Expertise | Strategic Video Engagement: The Game-Changer in Future-Ready Auto Finance

Articles by: Dan Bucherer

AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Grace McGurn.

Behind the Wheel: Allied Solutions Reflects on Used Car Week
By: Suzi Straffon, Director, Finance Company Markets | Allied Solutions

Considering the alarming surge in auto loan delinquencies, which have reached a 13-year high at an annualized rate of 7.7% in Q4 (Hyatt), addressing this critical intersection in the auto loan industry requires a strategic shift in communication. The timely education of and engagement with borrowers is paramount to navigate the challenges posed by the convergence of expensive vehicle payments and interest rates, especially with the average monthly payments climbing to an unprecedented $738 for new car loans in Q4 according to Experian, despite an overall decline in car prices.

The mastery of audience engagement is now more crucial than ever, given the complexity of the challenges in recent years. Reflect on your current engagement channels and assess the mediums within them. If your strategy lacks integration of video content, you may risk losing your message in the digital void.

Video is what’s trending. Need proof?

Video doesn’t replace standard engagement channels; rather, it empowers you to enhance them. To address the surge in auto loan delinquencies, economic/market conditions, and loan servicing, incorporating video into your communication strategy can be a powerful tool to educate and engage your internal and external audiences effectively.

Proven Results

*Allied Solutions has partnered with SundaySky to offer efficient video creation and personalization. After implementing the SundaySky platform, customers experienced:

  • 19% reduction in service calls
  • 29% lift in digital tools adoption
  • 48pt increase in Net Promoter Score
  • 24x return on Ad Spend (ROAS)
  • $50,000 video production cost savings

 

Key Areas for Video Integration:

Internal Teams

  • Internal Communications
  • New-hire Onboarding
  • Open Enrollment
  • Training & Development
  • Recruitment of New Talent

External Communication

  • Dealer Incentives & Communications
  • Collections & Payments
  • New Loan Applications/Processing
  • Promotion & Cross Selling
  • Refinance Applications & Completion

Integrating these video elements not only enhances communication but also clarifies expectations, empowering borrowers and servicing teams to navigate loans with confidence.

Are you Future-Ready?

To fortify the future of auto finance, mastering audience engagement is pivotal. As we navigate the rough terrain of troubling market conditions, now is the time for a strategic modernization in communication within the auto loan industry.

Listen to this special edition Allied Angle Podcast to learn more about SundaySky.

*Winner, CUNA People’s Choice Award, 2023

Industry Expertise | Strategic Video Engagement: The Game-Changer in Future-Ready Auto Finance
Mar 07, 2024

AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Grace McGurn.

Behind the Wheel: AlliedRead the rest

Industry Expertise | Behind the Wheel: Allied Solutions Reflects on Used Car Week
Dec 05, 2023

AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Dan Bucherer.

Behind the Wheel: AlliedRead the rest

Ep. 55 | Alternative Data Download w/ Equifax
Oct 12, 2023

In this edition of the AFSA Extra Credit Podcast, we chat with Lena Bourgeois, SVP & General Manager of Automotive & Insurance with Equifax about alternative data. It’s a term that gets thrown around a lot but Lena gives us the download… Read the rest

FEATURED BUSINESS PARTNER | GOLDPoint Systems
Oct 01, 2023

The featured Business Partner for the month of October is GOLDPoint Systems

GOLDPoint Systems offers one of the most complete Loan Management Software Systems in the Direct and Indirect market, covering the complete loan life cycle. Our … Read the rest

Registration Open for 2024 Vehicle Finance Conference
Sep 27, 2023

It’s time! Register for the 2024 Vehicle Finance Conference & Expo today and enjoy Early Bird Pricing!

What can you expect?

Influential Speakers. Gain insights and inspiration from incredible speakers, including our keynote:… Read the rest

Industry Expertise | Audit-Ready Best Practices for Lenders
Sep 27, 2023

AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Dan Bucherer.

Audit-Ready Best PracticesRead the rest

AFSA Applauds Bureau CRO Consumer Advisory
Sep 25, 2023

Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory reminding consumers that they have the right to see results from Credit Repair Organizations (CRO) before they pay and, more importantly, that they do not need to … Read the rest

Accountability is Paramount
Sep 21, 2023

This week, the House Subcommittee on Financial Institutions and Monetary Policy held a hearing entitled A Holistic Review of Regulators: Regulatory Overreach and Economic Consequences, which sought to explore the interaction and economic… Read the rest

AFSA Supports SAFER Banking Bill
Sep 20, 2023

A bipartisan group of Senators led by Jeff Merkley (D-OR), Steve Daines (R-MT), Kyrsten Sinema (I-AZ), and Cynthia Lummis (R-WY) announced the introduction of a new cannabis-related banking bill today, the Secure and Fair Enforcement Regulation… Read the rest

News from our Members | Alfa Announces Free Scope 3 Emissions Reporting
Sep 20, 2023

Alfa Announces Free Scope 3 Emissions Reporting
Alfa Systems

Alfa, the makers of Alfa Systems – the first-choice software platform for providers of asset finance, worldwide – has announced new functionality to help its customers

Read the rest

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