You have already invested a lot of money into an office, office equipment, auto repossession insurance, wreckers and other needed tools to operate a successful auto repossession business. Promoting your auto repossession business does not have to be as expensive as you might think. The repossession industry is a whole different animal than any other business out there. You need clients, and you want to get your repo company noticed, but unlike other businesses, you won’t be advertising on billboards, the radio or on television. Of course, you won’t want to do anything silly like a K-Mart blue-light special, offering the first 5 repos at 20% off or other similar embarrassing promotions!
You might be wondering, “How can I advertise my repo business effectively?” Here is the http://repoindustry.com/ company promotion list:
- Plan a sales pitch. You will want to know what you are talking about and be able to confidently speak about your company by phone or in person at any given moment. No long pauses, stuttering or other signs that show a lack of confidence in your company.
- Don’t have a website? Get one right away.
- Set up a free internet business listing with Google.com/local/; Bing.com/local/; and listings.local.yahoo.com/ and be sure to include a link to your website and a description of your company.
- Set up a business profile page on Linkedin, Facebook and Twitter, and be active on those sites.
- Have a printer make up some professional business cards, a company packet, letterhead and envelopes. Always have business cards with you. You never know whom you are going to meet. I know of one repossession company owner that went to a fundraiser and met a man that was in upper management of a nationwide finance company. He never, in a million moons, expected to meet a prospective client at this meeting. If he did not have business cards with him, he might have had to write his contact information on a dirty napkin, and probably would not be picking up an average of 75 cars a month over the last 5 years from that finance company.
- Pass out your business cards to everyone. You never know who might know someone in the auto finance industry.
- Send your company packet to as many lenders as you can.
- Have a Power Point digital packet created so you can send it via email.
- Have a professional one-minute DVD made about your company with video of your office, equipment, storage lot and staff. Include a brief message from the owner, talking about the benefits of using your repo company. This DVD can be included in the company packets you send out, can be uploaded on Youtube, and can be sent via email.
- Make sales calls as often as you can. Do not be afraid of the dreaded “cold call”, because they can’t kill you, they can only say yes or no.
- Join professional business associations, such as groups like the Chamber of Commerce, Rotary Club, or other civic associations. You are bound to make some contacts there, as well as get personal satisfaction from being a member of these worthwhile organizations.
- Pay for online memberships of auto repossession industry directories.
- Send out online press releases about your company.
- Attend auto repossession, skip tracing, and other industry-related seminars. You can also offer to speak at some of these seminars, branding yourself as a professional in the repossession world.
- Write an article for an online repossession industry-related website or hard copy publication.
- Network with other repossessors online and in person. This industry could be great if we all learned to lend a helping hand to each other.
- At all times, act accordingly and professionally in your business and personal life. You and your equipment can be your best and worst commercial! I know of one repossession company owner that recently got into a road-rage situation while driving his wrecker. He was quite depressed to realize he had flipped off one of the top members of the board of directors of a credit union that he did work for. He lost that account, which averaged 25 repossessions a month – that is pick ups, not repossession orders! Not including transport and key fees, he lost nearly $9,500 a month in revenue. Now that is one expensive middle finger!!!