BROKERS play a crucial role in accessing opportunities across both the business and retail markets. They have an extensive online presence and play a key role in enhancing the customer experience but understanding the needs of manufacturers (OEMs) and dealers is paramount to build sustainable growth.
That was the message to brokers from Steve Cocks (pictured above), Head of Broker, at the recent Lex Autolease Broker Conference (29 February 2024).
Held at the IET Birmingham: Austin Court, a Grade II listed venue on Birmingham’s canal network, Steve praised brokers for their agility, customer focus and online digital reach, but suggested that consideration should be given to what other partners need in the automotive ecosystem to ensure sustainable growth.
“Greater collaboration will minimise product distress, coordinate supply chains, align marketing efforts and ultimately retain customers. Brokers have extensive digital customer reach, facilitate seamless onboarding and offer excellent ongoing in-life support.”
Steve added that by working collaboratively, brokers and OEMs can implement proactive retention strategies such as personalised offers and loyalty programmes to foster deeper long term relationships with customers.
This collaborative approach maximises customer satisfaction and loyalty while driving sustainable growth for all stakeholders involved in the automotive ecosystem.
Steve went on to demonstrate that where OEMs were engaged with brokers this was reflected in more favourable retention rates to underline his point.
The day overall brought together Lex Autolease’s key introducer relationships and the supporting internal functions that support the broker business. The presentations presented a breadth of views and insight around current market conditions, potential challenges, and emerging opportunities.
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
