Over a strong large cappuccino: Consumer Strategist, Zoe Calderbank, discusses ways to enhance consumer credit journeys in order to deliver a smooth experience for the end client – and all those involved.
Zoe’s extensive experience in customer service and the asset finance space along with her top-notch phone etiquette have seen deals flow, NPS numbers rise and clients satisfied.
It’s these ingredients that have made Zoe a go-to for so many partners when workshopping full applications.
Here are some insights on how to ensure your consumer applications are backed by professionalism, speed and accuracy.
Key takeaways:
- Keep you client excited and in the loop from initial enquiry to settlement
- Consistent communication with clients, even when there are no updates, shows you’re a hard working broker and helps prevent them going elsewhere
- The more information all parties have, the smoother an application will be
- Networking can reap many rewards for brokers and with borders open, it’s much more doable
- Stock shortages are tough but manageable when you sell yourself, not just a vehicle
- EV and hybrid enquires are on the rise and are predicted to continue to do so
1. Maintaining a client’s excitement for a new vehicle is a key factor in referred and repeat business. What are some surefire ways to uphold this excitement?
Communicate with your client, keep them updated on the process and have a tentative delivery date to work towards. You’d be surprised how much of a difference a simple phone call, email or sms can make.
If you’re a dealer, send your client some sneak peek photos and videos of the car leading up to the delivery date. A car is the second most expensive purchase most of us make in a lifetime so make it an experience to remember!
2. Brokers who are relatively new to asset finance often find themselves dealing with all sorts of people and systems. How can Nodifi help and what role do you play in making this simpler?
It can be overwhelming, that’s for sure! Rest assured – we’ve been there too! The team deals with this all day, every day, so let us do the hard work for you.
I liaise with car dealers, private sellers and lenders on a daily basis and have learnt a lot of tips and tricks to get around the many out-of-the-ordinary hurdles!
If you’re ever unsure, give us a call or send in a scenario, and let us break it down for you. Often, it helps to put two (or more) heads together to see what we can come up with.
3. What are some things a broker can do to ensure deals flow smoothly, especially with complex scenarios?
Stay in contact with your clients, keep them updated, even if there are no updates. This shows that you are working hard for them and they will love it.
It also means less chance of them seeking finance elsewhere while they wait.
Put as many notes on the application as you possibly can, the more information, the better! Speak with your client about their credit history and manage their expectations accordingly.
For the more complex deals, feel free to give us a call and run through a scenario over the phone, or send it through the Nodifi platform. We can go through any of your concerns with the application prior to submission to save yourself and the client time and any disappointment.
4. We often hear that the more people a broker knows in the industry, the more resources they can utilise. How can brokers ensure they build strong relationships and their name is remembered, even if their interactions with stakeholders are few and far between?
It’s absolutely true! Recently, I attended the FBAA National Industry Conference for brokers on the Gold Coast. The event allowed me to put a few faces to names and build on existing relationships, as well as creating brand new relationships with partners we hope to see coming on board – something that can increase a broker’s network exponentially.
Now that interstate travel is back, this definitely won’t be the last event that Nodifi attends, so ensure you come along to any and all events that you can.
You’ll be surprised just how much you can learn by simply speaking with the right people and the benefits these conversations add to your business.
5. Stock shortages are a hot topic at the moment, what are some ways brokers can give their clients the best chance of securing a vehicle or, at least, keep clients excited about new vehicles?
I was previously employed at a car dealership myself, and there is nothing worse than a stock shortage. However, if you manage your clients well, communicate with them as much as possible with weekly check-ins, they are much less likely to shop around.
I’ve learnt that the best way to sell a car is to sell yourself – be the only person they can trust when it comes to their finances.
Tell your clients to act fast – it’s not just a sales ploy – they will miss out! Nodifi moves things along as quickly as possible to help with this.
6. Sometimes, for a variety of reasons, an application requires extra back and forthing. What can a broker do to ensure their client is a happy client, regardless of any complications or outcome?
Every deal is different! Some are certainly not as straight-forward as others. Manage your clients expectations and let them know that there are occasions we will need something out of the ordinary to get the deal across the line.
We’ll only ever ask for additional documents if we absolutely have to.
7. A lot has changed in the consumer asset finance space over the last few years, where do you think we’re headed in the near future?
As we know, technology plays a huge part in our lives. We are slowly starting to see a lot of electric vehicle enquiries come through, I think this number will continue to rise.
The Nodifi platform is a great example of how far technology has come. The platform allows our partners to easily and quickly quote their client on the spot. The application reaches us, and we aim to call you back within the hour with a solution, providing a responsive, accurate and speedy result for everyone involved.
Hot tip: Green cars and electric vehicles can get your client a lower rate with some lenders!
8. Finally, complete this sentence: A win for a broker and their client means…
A win for the whole Nodifi team! We genuinely love nothing more than getting a great outcome for every broker and client – we really do celebrate every win.
Reach out to Zoe and the Nodifi team if you’ve got a consumer application to workshop or any other questions you might need answering.
Other coffee chats
- Commercial Credit Strategist, Richard Spring, discusses the changing pace of large-ticket commercial assets
- Commercial Strategist, Rhys Thurtell-Morton, helps us navigate the paths of business needs for commercial clients
- Chief Product Officer, Chris Sims, talks us through the importance and benefits of technology in finance and business holistically
