Rather than stand by while local auto sales continue to sputter through the economic downturn, the Daily Press has partnered with the Virginia Peninsula’s largest credit union to jump-start the market by reminding consumers that financing is available to back vehicle purchases and leases.
With a financial subsidy from Langley Federal Credit Union (LFCU), the Daily Press will publish a series of advertorial tabs on six consecutive Fridays beginning January 2, 2009. “It’s Time to Buy!” will feature advice for automotive shoppers, as well as marketing messages from auto dealers that offer their customers financing through LFCU. Every Friday for six weeks, 90,000 copies of the 16-page special section will be prominently placed atop that day’s edition of the Daily Press for heightened visibility, along with on-site distribution at LFCU’s 17 locations.
Bob Weber, Daily Press vice president for advertising sales, reports that acceptance among local market dealers has been overwhelmingly enthusiastic, with the first “beta test” issue being sold out at 12 pages. LFCU’s investment in the project will cover production costs for the tabs, in exchange for which the credit union will receive extensive promotional mention. It has also taken the lead in selling the section to auto dealers that offer LFCU financing by encouraging them to advertise their offerings in the tabs. Advertising rates are aligned with the premium quality and placement of the tabs, which will be printed in full color on premium paper.
For its part, LFCU welcomes the opportunity to add to its shareholder base through the new customers that will be motivated by the sections to purchase or lease vehicles and finance them through the credit union.
Daily Press advertorial series engineered to jump-start local auto sales Page 2
Automotive General Manager Adam Shelnut emphasized the importance of partnering with a solid, local financial institution: “With over 70 years of experience, LFCU remains a safe and strong financial institution with plenty of money to lend.”
“Through the fourth quarter of 2008, the feedback from the dealer body was that the credit crunch was pervasive, and there simply was no money to lend for vehicle purchasing,” says Weber. “This series of sections will reach out to consumers and provide assurances that they can, in fact, finance their new or used vehicle purchase.”