Offering financing can be the difference between a signed contract and a lost opportunity. But a promo isn’t a one size fits all solution. The key is choosing the one that helps your customer say “yes” while keeping your business profitable. Here are a few tips to help you find the right fit.
Know Your Numbers
Before you offer any promo, make sure you know your numbers. What does it cost you to complete a typical project and what margins do you need to keep your business healthy? Once you have that figured out, you can build the cost of a promo into your project pricing rather than absorbing it as a hit to your bottom line.
Match the Promo to Your Customer’s Problem
The best promo isn’t the flashiest one. It’s the one that solves your customer’s specific concern. Think about the objections you hear most often:
Why accept a discounted bid?
Without discount programs, many customers would not qualify for financing…which means fewer sales can be closed. And fewer sales mean lower profits.
When you frame the promo as a direct answer to their hesitation, it becomes a powerful closing tool.
Tips to Make Financing Work for You
You don’t have to be a financing expert to offer financing with a special promotion. Here are a few tips to help you get started:
When you combine these habits with the right promo, you’re not just offering financing; you’re giving your customer a reason to move forward today.
Choosing the right promo comes down to two things: keeping your business profitable and giving your customer a reason to say yes. When you get both right, you close more deals and build a stronger business.
Interested in other ways Foundation Finance can help you close your next sale?
Contact us for more info: 1-855-241-0024 or [email protected].
*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.
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