Octane Lending, the fintech firm targeting powersports purchases, has launched Octane Preferred, a business-to-business (B2B) loyalty program that features exclusive benefits.
“We’re thrilled to reward dealers for their business with our experiential loyalty program that adds VIP service and exclusive benefits to the speed and ease dealers already receive from Octane,” says Onaisa Landis, vice president of marketing at Octane. “Octane Preferred is just one of the many ways that we’re using innovation and technology to provide a better user experience and lead the industry forward.”
The Octane Preferred program features include:
- Early access to new products;
- Customizable marketing tools to help dealers drive sales;
- Dealers earn status by funding deals through Octane’s in-house lender, Roadrunner Financial;
- Benefits increase with each tier of loyalty earned; and
- Personalized Dashboard, enabling dealers to see the full list of benefits and track their performance and progress to the next tier.
After piloting Octane Preferred with a pool of select dealers in 2022, the program went live nationwide in March 2023. During the pilot, the program’s exclusive membership benefits saved dealers over 200,000 minutes spent processing funded applications. At the same time, Octane saw a 5% increase in retention among dealers in the pilot program, the company reports.
Currently, Octane Preferred has two tiers, with more tiers and benefits rolling out in the coming months, notes Octane. Powersports dealers in the United States who do not currently offer financing through Roadrunner Financial can become eligible for Octane Preferred by enrolling here.