Channel | Auto Industry News

ChannelNet Renews Relationship With BMW Financial Services

Dearborn, Mich. — ChannelNet, which connects brands to their customer through a variety of online channels, including microsites, renewed its eight-year relationship with BMW Financial Services.

Delivering customer acquisition, retention and conquest services via Web-based solutions, ChannelNet also works with Hyundai, Volkswagen Credit, Audi Financial Services, Volvo, Mitsubishi Motors, Kia Finance and Southeast Toyota’s Financial. The company expects a year-over-year sales increase of more than 40 percent in 2013, company officials said.

“Our software platform, ChannelNet SiteBuilder, enables us to create a unique customer experience for every corporate client, and at the same time automate the marketing and sales process,” said Paula Tompkins, founder and CEO, ChannelNet. “Each finance company can exploit their own data to meet their specific business priorities. One of the most critical elements of why our solutions are so in demand is it gives sales and marketing the ability to follow the vehicle through the whole life cycle of ownership. In this way, different business goals can be achieved, such as call center volume reductions, lowering of direct marketing expenses, increased customer retention and incremental sales increase.”

The company’s services speak to trends noted in the 2013 KPMG Global Automotive Executive Survey, which revealed that captives believe moving online toward a more customer-centric model is a key driver for future success.

According to ChannelNet officials, the most significant goal for their auto finance customers is to increase repeat business by creating a richer online experience that is personal and ensures greater satisfaction for owners. Tompkins noted that the firm’s microsites, which used software-as-a-service to connect companies with their customers to sell products and services, typically drive at least a five percent increase in customer retention rates.

“We know from our Web site tracking data that over 40 percent of the lenders’ customers use these microsites,” said Tompkins.

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