It happens in baseball…and it’s happening in the home improvement business, too. Hitting that sweet spot and making the home run. What’s the sweet spot in home improvement? Financing!
Offering financing not only increases sales conversion, it increases average project size by 15%, notes a study by bigcommerce.com. Closing sales, bigger projects…those are home runs with bases loaded! With the right financing program you’ll get spring training, effective equipment, er, promotions, and an audience that can’t wait to see what you have to offer!
Follow these tips to hit that sales sweet spot every time you’re up to bat.
Offer financing to every customer, every time.
“You can easily afford your dream with our financing promotion that gives you low monthly payments you’ll barely notice.” As simple as it sounds, including a financing mention with every customer conversation will close more sales.
Make the financing easy.
Your customers don’t have to jump through hoops to get financing from you. You can complete it during the in-home visit or email/text them the credit application link and loan documents. They can eSign everything from home!
Advertise a financing option with the photo of the dream kitchen remodel. No payments for a year or low monthly payments can bring the customer straight to your door! Display posters and window clings in your business and promote financing on your website and social channels. Foundation Finance provides dealers in its network with free marketing materials.
Make the dream affordable.
No matter how big your customer is dreaming, it can still feel affordable when you present the project pricing as a low monthly payment or offer a deferred payment plan. You’re in control when you can offer a solution to a pricing challenge. Foundation Finance provides exclusive promotions that satisfy the most price-sensitive prospects.
Give them options.
A customer is more likely to commit to a project when they realize they don’t need to drain their savings or take out a complicated home equity loan. With point-of-sale financing you can provide a financing option that best suits your customer…and closes that sale! Foundation Finance gives you those options with:
- Low-fee APR buydown, Same-As-Cash (SAC) and deferred payment promotions
- Terms up to 180 months or payment factors as low as 1.25%
- Unsecured installment and revolving financing up to $75,000
- First and second looks with FICOs as low as 600 considered
- Free reduced APR promotion for every customer
Financing really is your sales sweet spot. Keep it play-ready and watch your bottom line grow.