Synchrony Financial is prioritizing improvements to its dealer portal in an effort to boost dealer enrollment and engagement, said Keith Mait, the company’s vice president and industry leader of powersports.
“If we can gather feedback from dealers on how to make the process, or applications simpler or easier to use, we will do that,” Mait told Powersports Finance. The goal is to get the dealer “to interact with us,” and introduce and train them on Synchrony’s technology to ensure dealers “have a regular connection point to us to help them close more sales,” he added.
Synchrony will focus its time and attention for the remainder of this year on making sure that dealers are enrolled in the company’s programs and feel comfortable using the business center — Synchrony’s online dealer portal — on a regular basis, Mait said. “The more dealers that are comfortable with those tools, the more likely we are to help our OEM partners grow their sales,” he added.
Stamford, Conn.-based Synchrony Financial makes loans for more than 1,000 dealers in 50 states, but the lender’s dealer count can only grow based on the rate that its OEM partners onboard new dealers, Mait explained. Synchrony’s OEM partners share their dealer list with Synchrony “on a regular basis, and we immediately assign a team to complete the enrollment process,” he added.
“We have a very high [dealer] enrollment, as high as we can possibly get,” Mait said. “Dealers go out of business, come into business, and change lines or drop lines. There’s a consistent churn, but we feel we have what I would call ‘full enrollment,’ at any given time.”