Car Loans Germany
The market research consulting company reserach tools has examined different distribution channels for car loans in its current study “Marketing Mix Analysis Car Loan 2018”. 10 banks were scrutinized here. The conclusion: The communication is rudimentary.
The 4 Marketing Pages Product, Price, Place, Promotion were analyzed. The strengths and weaknesses analysis and the marketing ranking bring the results together and a statistical marketing positioning visualizes the results of many companies.
The majority of the companies examined here are customer-oriented in car loan sales. Many information about the car loan can be easily found on the websites – in most cases, an online loan calculator for a quick overview of the expected conditions is available.
Diversity in distribution channels
When it comes to distribution channels too, the institutes focus on diversity. Internet, telephone, bank branches as well as in the case of the automobile banks the branches of the manufacturers are available. Although comparison portals play a significant role in the search for a lender, here the majority of providers actually do without a broad presence. In return, the hotline operating hours and thus the telephone availability of the lenders with an average of 106 hours per week are comparatively high.
4 providers even maintain a 24/7 hotline here. The answer quality for telephone inquiries almost consistently good. By contrast, there is great potential for improvement in the case of e-mail inquiries. The service center of Metabank sets standards in terms of friendliness, speed and quality.
Social media and radio not relevant
In social media, the topic of car loan does not seem to interest. Whole 4 postings can be found in the accounts of the 10 providers within 12 months. Mediocommunication is also economical with around 600,000 euros, combined with a really strong use of print media.
On radio advertising, all banks examined completely and thus unfortunately also on the possibility to reach motorists about this. Although the providers themselves very rarely communicate by press release, a total of 380 car loan-related press releases in German daily newspapers, magazines and specialist journals confirm the interest in the topic.