To understand how technology and business partnerships are transforming the auto loan industry, I turned to Serge Vartanov, Chief Marketing Officer at AutoGravity. The company places car loan and leasing process in the hands of the consumer.
Serge Vartanov, Chief Marketing Officer at AutoGravity
What are the key ingredients in great partnerships?
Synergy is the true force behind successful partnerships. When AutoGravity partners with leading lenders and trusted dealerships, we collaborate to find opportunities to help our partners reach new customers and activate new value by deploying the full potential of our platform to their benefit. Meaningful partnerships begin with a clear articulation of the value that each party brings. All parties have to be able to point to what’s in it for them to the extent that there is no question in the value of the partnership. Another important ingredient for a successful partnership is putting customers at the heart of everything. AutoGravity was created to change the way people shop for and finance their cars – and our partnerships strengthen the experience for all parties by empowering customers with knowledge and the confidence that they are receiving a fair deal.
Trust and integrity can make or break a partnership, especially in regards to delivering on promises and working together to solve inevitable challenges. Partners need to be committed to creating a sense of community between both companies and driving to achieve a win-win for all partners involved. Lastly, establishing a long-term strategy is essential because it not only plans for the future, but also lets your partner know that you are in this for the long haul. A good partnership can make a big difference to not only your business, but your shared clients and industry.
Can you describe the partnerships that you are part of that shows these values?
AutoGravity has established partnerships with leading lenders and dealer groups to make the digital car buying and financing process as empowering as driving a new car off the lot. For example, our partnerships with lenders like Mercedes-Benz Financial Services and First Investors Financial Services allow our platform to gain credibility while offering lenders the ability to be innovative without years of expensive IT projects and disrupting established business practices. On the other hand, partnerships provide greater consumer options while giving lenders access to a broader pool of new and existing digitally-savvy customers. These partnerships are a great example of not only putting our customers at the heart of the company, but creating synergy and amplifying teamwork between companies.
In addition to our AutoGravity branded iOS, Android and Web Apps, we have partnered with the Fletcher Jones Auto Group to offer a white-label platform powered by AutoGravity technology called Fletcher Jones Drive (FJ Drive) for Android and iOS. With FJ Drive, luxury car shoppers can enjoy a seamless car shopping and financing experience that lets them choose from the nation’s largest selection of Mercedes-Benz vehicles, secure a loan or lease through FJ Drive and pick up their Mercedes-Benz at the Fletcher Jones location of choice. By building a personalized app exclusively for Fletcher Jones, we have instilled trust and a sense of long-term commitment to this partnership.
Is there a company or organization that you look up to that builds great partnerships that you are not part of?
We study and draw inspiration from partnerships between innovative digital marketplaces and industry players that are able to reach new customers by embracing innovation. The auto-finance industry today is where the travel industry was ten years ago, and the taxi industry was five years ago. It is ripe for innovation and AutoGravity is driving a fundamental transformation. AutoGravity is in part inspired by Expedia and Kayak, and the partnerships these marketplaces have formed with major air carriers like United Airlines and Delta. These companies forever altered how air travel is booked. We have built a digital marketplace to provide personalized options and introduce transparency in the car financing process. Our customers have peace-of-mind knowing that they have received a fair deal on their car loan. AutoGravity is set on simplifying auto-finance and bringing it back down to Earth.