Built with WebRTC: CarFinance 247
“Built with WebRTC” is a monthly series highlighting companies that have successfully deployed Web Real-Time Communications (WebRTC) solutions to the market. CarFinance 247 is the company we are focusing on in continuation of our series, highlighting companies that have been successful in deploying Web Real-Time Communications (WebRTC) solutions to the market. With the help of WebRTC, CarFinance 247 has become the UK’s number one car finance broker and they approved over $3 billion in loans in December 2017 alone. This article focuses on how influential WebRTC has been in the continuing success of CarFinance 247.
CarFinance 247 already had a measure of success when its leaders decided to take their business to the next level. The co-founders of CarFinance 247 found out that due to their existing on-premise VoIP solution, they were losing out on an estimated 100 potential new customers daily.
Additionally, their call data and CRM data were separate, and they found it very hard to connect the two. The CarFinance 247 team discovered that not only were they missing out on a large amount of data now integrated into customer calls, they were also unable to gather meaningful data.
The CarFinance 247 loan approval process goes through many stages. Therefore, being able to tie a call to the lifecycle of a customer journey meant that agents could do their job much more efficiently. There would also be an added customer benefit since the customer would no longer have to continually repeat information to new agents every time they were transferred. WebRTC would prove to be a key element in resolving all these issues, with the added bonus of increasing CarFinance 247’s bottom line.
Team & Leadership
In 2006, Reg and Louis Rix started CarFinance 247. While running a successful online car classified business, which was later bought by RAC, they spotted one big gap in the market. People were finding it hard to get honest advice on car finance. So, they came up with a new way of working, giving customers access to a panel of trusted lenders, and a huge range of financial products to suit them, whatever the situation.
Since forming the business in 2006, Reg and Louis have been the driving force behind CarFinance 247’s continued meteoric growth, which in 2017 has seen more happy customers than ever before and the number of employees double. Reg’s appetite for innovation is matched by his commitment to delivering exceptional customer service. And with a strong motor industry background, the brothers have combined their knowledge of the sector with digital best practice to direct CarFinance 247 into becoming a market disruptor. Louis has lead the online business’ ongoing digital capabilities, developing bespoke technologies that have supported them in becoming the most searched for motor finance site in the UK.
WebRTC Opens The Floodgates
For CarFinance 247 it’s about constantly improving the customer experience by making it straightforward and fuss-free. By ensuring the experience is smooth from beginning to end, and using new technologies to make it easier and quicker for customers to see their options, they put the customer in control of the decisions.
WebRTC has caused a drastic increase in business. After integrating Twilio’s Programmable Voice API, CarFinance 247 had a 12% uplift in their customer conversions, which is significant in terms of revenues and profitability. According to Technology Director Jon, the estimation of 100 people every day having a bad experience and being unable to call them is a problem that just vanished overnight. With WebRTC, customers and prospects receive a superior level of care and support. Furthermore, WebRTC has been responsible for increasing conversion rates and allowing CarFinance247 to expand across the entire country.
WebRTC technology continues to be the cost-effective medium used to provide the best customer experience possible with the added benefit of ultimately increasing revenue. Isn’t that what every company wants? CarFinance 247 is reaping the benefits of implementing a Web Real-Time Communications solution and Blacc Spot Media can help you to do the same.
As a Premier Development Partner with Twilio, Blacc Spot Media can enhance your customer service experience by providing a multi-channel customer engagement solution using WebRTC. Reach out to us today to get started!
About Blacc Spot Media, Inc.
Blacc Spot Media is an Inc 5000 fastest growing company in America focused on Web Real-Time Communications (WebRTC) development across web, mobile, native desktop and telephony implementations. Our team works on strategic projects developing custom applications, enterprise platforms and mobile applications for a wide array of clients. If you are interested developing your own WebRTC product or service, let us know how we can help you.