In Todayʹs Economy; How Offering Financing May Increase Sales!
With todayʹs economy, selling to businesses has its’ challenges. Budgets are tighter, customers are spending less, bank failures have destroyed relationships and lending is all too hard to find. Does this mean that financing is not a viable tool to increase your sales? Quite the opposite. Your customers need financing more than ever and may be reluctant to ask for it. A proactive financing offer might just be the one point between making the sale and losing it.
How Does Offering “Financing” Benefit You?
- Increased Revenue – Customers, on average spend 20% more when they are paying on payments
- Increased Repeat – Business Expiring agreements push customers to action to either replace or upgrade
- Easier Sales Process – It’s easier to sell a monthly payment versus the full equipment price
- Increased Add Ons – Financing customers add more features then they would if they paid cash.
Understanding the “Utility Mind”
It is easy to sell a monthly payment versus the cost of your solution, once you have your customer thinking with their “Utility Mind” (seeing the “value” of what your solution will do for them). In the beginning of the sales process, find out how your customer plans to pay and if they have a monthly budget in mind. Now you can address the solution in a monthly savings/increased income mode versus an affordable monthly payment.
Why Does Selling a Payment Work?
Customers are accustomed to making monthly payments: they pay rent, mortgages, car payments, credit cards, etc., all monthly. Customers can quickly relate to a monthly expense and easily calculate it into their existing budget.
How to Start Selling with the Monthly Payment?
“It looks like we can provide you this complete solution for about $250.00 per month.”
Remember: By offering financing, you are giving yourself a selling advantage over your competition who may have decided not to offer financing.
Call today out about our unique finance programs that help your sales!
772-979-1194 or firstname.lastname@example.org