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Video Production for the Subprime Auto Loans Industry

Subprime auto lenders provide car, truck & automobile financing consumers that have less than perfect credit scores, generally below 600 points. Lenders are defined as subprime because they provide loans and leases for subprime borrowers and carry an added risk of default over the traditional, prime lending banks or financial institutions which provide loans to those with above average of “good” to “excellent” credit. Video production for the subprime auto loans industry focuses largely on getting the word out about lenders and their subprime lending products that can put consumers with less than ideal credit situations into new or used cars, trucks, or similar vehicles. 

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As the financial market improves, subprime lenders typically face slower growth than would be expected, but when consumers have less liquidity and there is less discretionary spending, subprime auto loans providers tend to see a jump in their overall revenue growth. This is a $14 billion dollar industry that has contended with a variety of challenges over the last several years as regulatory oversight has dampened profits and threatened growth, but despite this, the availability of subprime auto loans continues to increase.

Beverly Boy Productions provides expert video production services for subprime auto lenders to assist with marketing & advertising, building trust among the consumer audience, and increasing profits through rising ROI resulting from increased financing contracts. Ask our team about the many ways that your subprime auto lending business can benefit from video marketing & advertising as well as from the use of internal training videos that can solve many of the time & money constraints that come along with hiring and onboarding new members of your team.

Promotional Videos for the Subprime Auto Loans Industry

Many consumers are unaware of the potential opportunities or options that are available to them if they don’t have good credit and are shopping around for a vehicle. Subprime auto loans providers can utilize promotional videos to spread the word about their business to their target audience and increase buy-in from would-be consumers that could potentially benefit from the lending services that they provide. 

 

Short, engaging promo videos can influence consumers to contact a subprime lender and submit an application for automobile financing. In fact, the key purpose of promotional video production for the subprime auto loans industry is to encourage or influence the target audience to take action. That action can be submitting a lease or lending application, calling the lender to inquire about financing, or engaging in some other communication between the lender & the consumer audience that they’re most interested in engaging with.

Marketing Videos for the Subprime Auto Loans Industry

Subprime auto lending is all about reaching the right market with your messaging, but this often means delivering targeted content on social media, your website, your corporate profiles, and anywhere you expect your prospective audience of needy consumers that are auto shopping to be spending their time online. If you’re not using marketing videos to reach your audience online, you’re almost certainly leaving money on the table as the average consumer spends more than 100 minutes online watching video each day and more than one-third of all internet activity is video-related. 

Marketing videos go beyond the typical promotional video to include a variety of concepts & individual topics. Subprime auto loans providers and lenders can utilize marketing videos to:

  • Engage their target audience on social media or online.
  • Increase their organic reach and drive up to 157% more organic traffic to their website.
  • Increase their email open rates by 19% or more.
  • Increase revenue up to 49% faster than non-video marketing strategies.
  • Generate more growth from sales, financing contracts and increased ROI.

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The more you utilize video to reach your market, the more likely they are going to be to take the desired action that you mention in your video content and the more likely a subsequent revenue boost will be from the interaction. In fact, 84% of all marketers that utilize video say it has helped them to generate leads. 

Training Videos for the Subprime Auto Loans Industry

Subprime lending is a tricky business that requires a lot of working parts and moving pieces in order for the contracts to be extended and for the consumers to stay on track with their loans. Training new employees to help you keep each of the important pieces of the puzzle operating smoothly is an essential task that many subprime auto loans providers don’t have much time for.

Fortunately, training video production for the subprime auto loans industry can reduce total training times for your business, boost training outcomes, and help you to overcome many of the challenges that you face with onboarding and bringing on new team members. Training videos are actually preferred by most employees because they are easier to follow, fun to engage with, and result in significantly higher knowledge retention over in-person shadowing or training by written manual.

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Interview Videos for the Subprime Auto Loans Industry

Ultimately, whether a needy consumer that’s seeking to purchase a new vehicle chooses your subprime loan for their needs or not will depend on a few things. Mostly, it’s going to depend on who is willing to work with them, and who they trust to handle their financing needs. Building trust within your community, and particularly within your target audience of potential consumers that have less than perfect credit and are auto shopping, is essential.

Interview video production for the subprime auto loans industry can help you build trust by showing off your expertise and proving your credibility in the industry. In fact, expert interviews are a great way to build authority in the auto financing industry so that you can extend your reach to more auto dealers, other lenders that can refer customers to you, and elsewhere within your community. Ask Team Beverly Boy about how you can put all of these important types of video to work in helping you to establish and grow your subprime auto financing brand. 

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