The answers come down to a single truth; all customers have budgets and are burdened with the financial constraints. Financing allows you to change the conversation, moving it away from budget constraints, to the benefits of the purchase in their life today.
Here are 4 of the leading benefits of offering financing.
1. Sell more, more efficiently
Embedding a financing tool into your sales process increases sales by 25% – 30%, enabling you to sell more. To help efficiency, Financeit offers customers a self-serve application called “Financeit Direct,” empowering you to be as involved – or as hands off in the application process as you want to be. Simply send your customers a link to complete a loan application on their own from any device.
2. Negotiate less
No one likes being stuck in price negotiations. Cut that out of your equation by offering a payment plan. Using the Financeit payment calculator makes it easy to lead the conversation with an affordable monthly or biweekly payment, ensuring you’re quoting to sell!
3. Be more competitive
Merchants who offer financing are automatically positioned with the advantage. Offering financing shows a level of sophistication as a merchant that many competitors don’t have. To provide even more incentive, use a powerful promotional program such as no interest/no payments deferrals and interest rate buy-downs to give your customers an offer they can’t refuse.
4. Attract new customers
Offering payment plans will attract new customers that may otherwise not be able to afford your product or service. Because they now have an affordable payment plan, the purchase becomes manageable. Ensuring your retail location is dressed with the appropriate Point-Of-Sale marketing materials makes it easier to introduce the conversation. Financeit provides all of our merchants with the POS materials they need to get set up.
Financing is a powerful tool to help you close more, increase transaction size, and negotiate less all while allowing you to give your customers more options and maintain the margins in your business that you deserve.
For information on how to sign up, visit financeit.io