We get into some interesting debates here in the halls of IFMG. As a marketing services company that has built a business around lead generation for auto finance, we understand a lot about how to reach out to prospective customers and get them to respond to a call to action.  But it also means that we engage in some animated discussions around the strategy and tactics we can use to do that. Recently we’ve been taking another look  at one of the fundamental concepts of marketing, branding.

Opinions vary, but what it boils down to is this: how do you define a brand?  Is it the word-association game you play when someone mentions a company’s name? Is it the logo? Their message? The tagline?

If it’s done well, it’s widely recognized like Apple or Coca-Cola. Their names conjure up full experiences, for better or for worse. It can help increase stickiness and determine any given potential consumer’s propensity to buy.

Personally, I like Seth Godin‘s description:  “If you’ve never heard of it, if you wouldn’t choose it, if you don’t recommend it, then there is no brand, at least not for you.”  (“define:Brand“, December 13, 2009)

If that’s the case, and there are no associations for a company name or a brand, then does changing a logo really have any effect on how a company performs in the marketplace?

If Auto Dealer Monthly had an awards banquet, what would it look like?  Would it be in a hotel convention center with lots of bronze, silver, and gold?  A dealership show room decked out in red, white, and blue? Or would it be a live web cast of award winner announcements straight off a Florida golf course (or maybe a marathon route)?  Hmm… Arsenio Hall could come out of retirement and guest host.  We would enjoy that.

Here’s a question… what do Arsenio Hall and Interactive Financial Marketing Group have in common?

The answer… 1989.

Arsenio Hall hosted his first late night talk show in January of 1989.  IFMG, aka 1-800-Car-Loan began taking applications for a local dealership that same year.  Of course we’re still here and uh, well Arsenio Hall is somewhere.

This week we are celebrating our 4th Auto Dealer Monthly Dealer’s Choice Award in the Special Finance Leads category.  That means that readers of the magazine, mostly auto dealers from across the United States think we’re the cats pajamas.  We’re honored to have received the votes and recognition.  Thank you to all who voted. Congrats to all those who placed in the category.

A big “thank you” goes out to our employees, many of whom through the economic downturn have passed on 40-hour-a-week opportunities to stay and work tirelessly to serve our customers.  We’re inspired to work around them every day.  Thanks to our vendors and affiliate partners who work with us to optimize marketing channels that attract the best local consumers to our network.  Of course, thank you to the many consumers who have placed their trust in us to protect and secure their privacy while connecting them to a sincere source of financing.

After these past 18 months, we don’t take many things for granted.  It’s nice to receive the recognition.  We look forward to serving more in the near future.  Now let’s Sell More Cars!

-Tom

I overhead an interesting conversation on the way out of LeadsCon last week.  Not that we make a point to eavesdrop or anything like that. There just was no choice since the conversation occurred over a taxi cab CB radio.  Yes.  Vegas.  Taxi cabs.  Interesting conversations.

The taxi drivers were talking amongst themselves on their radios, sharing ideas on where the hot places for fares would be in town on the evening.  “The game at UNLV lasts about two hours,” said one driver.  “There is a steady stream of fares now at the airport,” said another.  “Thanks for the heads up.  I’m heading over now,” responded a cabbie.

The constant communication of questions, ideas, tips, among peers caught my ear for a couple of reasons:

1. It’s Vegas.  Aren’t there tons of places for hot fares?
2. Its cab drivers.  There are best practices and ideas for cab drivers?!
3. Vegas + Taxi = Homogeneous service

This got me thinking about our leads business.  In a market where there exists lots of opportunity, competition, and where products are essentially the same, those who can communicate and differentiate have the better chance for sustainability.  Cab drivers included.

Even on the heels of LeadsCon, a conference where everyone wants to talk about their cool take on life, we continue to be amazed at how little people actually communicate and talk about where the best fares are.  Sales people talk but ask few questions.  Business principles signal but don’t get down to brass tax.  Take for instance the break out sessions at the conference.  There was very little substance, or data presented on what actually is working where.

If there’s any big take away from our cab ride and trip to Vegas, it’s that we all win together when we share and are resourceful with one another.  What may make a good generator of leads, may not make a good provider of leads.  What works when scoring leads for auto finance, may not work when scoring mortgage leads.  Yet when we recognize what we’re good at as individuals and how more value can be appropriated across all points within a chain everybody wins, specifically the end user.

Hello March 2010.  We look forward to the remainder of the year.

- Tom