Offering financing to customers can increase customer loyalty, project size and sales overall. But are there best practices on how to successfully offer it to your customers? Of course there are!
Whether you’ve just enrolled in a financing program or want to get more from a program you already use, the following tips can help you close more sales with the power of financing.
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1. Affordability is key.
Closing a sale often boils down to how comfortable the customer is with the project cost. Maybe they can’t afford the full amount up front but could afford smaller monthly payments. Don’t guess. Simply present the cost as a low monthly payment or offer a deferred payment plan. Same-as-cash options are also a great lead-in to the financing discussion. Learn more about our current promotions.
2. Make it obvious your business provides financing.
Customers may choose your business because you offer financing. Share your financing options with paid advertising, posters and window clings and your website. You can also post about financing on your social channels and include it in emails you send to your leads.
3. Offer it to every customer, every time.
“Would you like to get prequalified for payment options?” As simple as it sounds, presenting this simple question to every customer can increase the number of sales you close. Our soft credit pull process won’t affect your customer’s credit score and will give you all the information you need to estimate their monthly payment amount.*
4. Make it easy for your customers to access.
Let your customers know how convenient the financing process is. They can access a customized credit application link on your website, or you can text or email it to them. Contract documents can also be signed electronically.
Offering financing to customers is ultimately a win-win. You get more sales conversions, bigger projects and your customers get their dream improvements or much-needed repairs. Being part of a financing program and not offering it is like not using the best tool in your toolbox. Follow our best practices and watch your bottom line start to shine.
Interested in other ways Foundation Finance can help you close your next sale?
Contact us for more info: 1-855-241-0024.
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Enroll in the Foundation Finance dealer network today.
*Upon receipt of a completed credit application and executed contract documents, a hard inquiry (which may affect the applicant’s credit score) will appear on the applicant’s credit report.
