IRVINE, Calif. – eLEND Solutions™ and Orbee are partnering to help transform auto dealership websites into powerful deal generators, by moving more online shoppers down the purchase funnel through intelligent re-engagement technologies. eLEND Solutions is an automotive FinTech company focused on providing a simplified vehicle purchase process for the retail automotive industry and Orbee is a digital marketing technology company that provides analytics, data, and automation solutions.
The high lead-to-sales conversion ratio of eLEND’s Express Credit App means that these applicants are serious buyers and, with Orbee, we are able to ensure that even more of these car buyers who start online with a car dealership stay on the path to purchase with that dealership.
The COVID-19 pandemic accelerated auto dealerships' adoption of digital retailing tools, as more and more shoppers began their purchase process by going directly to dealership websites. As this trend continues, powerful first-party data is available that can be harnessed to create continuity in the digital buying experience. The integration of Orbee’s platform - which leverages this data to provide in-depth, individual shopper profiles - with eLEND’s Express Credit App, a quick online finance application that delivers instant credit decision, offers auto dealership a solution that enables them to automatically re-target potential car-buyers who have started, but not completed, their credit application.
“Increased engagement leads to greater conversion opportunities for car dealers. Our partnership with Orbee further fuels Express Credit App’s already industry leading click-to-submit ratio, moving more car shoppers down the purchase funnel, and dramatically improving dealership shopper to sales ratios," said Pete MacInnis, CEO and Founder of eLEND Solutions. "This is another critical step in moving digital retailing closer to its potential, helping to transform the dealer’s website from lead generator into deal generator."
Nine in ten car buyers are payment buyers who want qualified payment information up-front and online, and eLEND”S Express Credit App helps car buyers do just that, enabling them to do more of the car buying process online upfront. Although eLEND’s Express Credit App has the lowest form bailout rate in the industry, its partnership with Orbee, whose platform enables intelligent retargeting automation – through email marketing, on-site personalized messaging, social media and search advertising – helps keep more car buyers in the purchase funnel.
“The high lead-to-sales conversion ratio of eLEND’s Express Credit App means that these applicants are serious buyers and, with Orbee, we are able to ensure that even more of these car buyers who start online with a car dealership stay on the path to purchase with that dealership,” continued MacInnis.
How It Works
If a car shopper on a dealership website clicks through to eLEND’s Express Credit App, but then leaves the app before submission, the integration with Orbee enables the re-engagement of that customer via automated retargeting. By leveraging shopper information Orbee has previously captured (e.g., via chat, trade-in tolls, price requests, etc.), it can retarget and lead the customer back to the Express Credit App. That customer submitted PII enables the dealer to negotiate accurate payment terms matched to fundable contracts with consumers remotely. “We are pleased to partner with eLEND to further empower dealership conversion rates,” said Peter Fong, CRO of Orbee. “Our goal is to make sure dealers can continue engagement, initiated through Express Credit App, with those car shoppers who start the credit process, but do not finish it. Through our proprietary targeting technology, we are able to re-capture their interest, encourage them to complete this important step in their car buying journey.
Originally posted on F&I and Showroom