It’s fair to say there have been a few bumps (and bruises) throughout 2020, but don’t give up on the hope of increasing your bottom line just yet! Now, more than ever, customers need—and want–your financing options. Deferred payments, same-as-cash, long terms with low payments—those are the benefits that are closing more sales in today’s environment.
“Home-basing”, a term coined by Trusted Media Brands to describe creating stay-at-home experiences during the pandemic, is increasingly influencing a rise in hiring remodeling professionals. Homeowners might be handling a bathroom remodel, but they’re not tackling HVAC or electric repair. Instead, they’re calling their nearest contractor.
Being prepared to secure those calls with a financing option at-the-ready, and communicating to your neighborhood homeowners that you have financing, is your ticket to ending 2020 with a rising profit line.
Why Financing Works, Especially Now
Affordable, attractive financing has become the safe and preferred choice of many homeowners as we approach the end of a year that holds the convergence of a continuing pandemic and political unrest. Consumers are hesitant to give up their nest egg or put cash on the table for a large purchase. But they are also yearning to improve their at-home experiences.
Because of this unique environment, your point-of-sale financing option is attractive to consumers with little cash on hand to consumers with a large amount of cash on hand. Both want a financing option that doesn’t cost them extra money to use it, but gives them the security of either not depleting their safety net or affording a remodel with little financial worry.
Offer Financing to Everyone, Right Now
We can’t emphasize this enough, offering a financing option with every, single sales call will increase your sales conversions. It needs to be a part of every conversation with current, potential and past customers–without picking and choosing who you ‘think’ would be open to a financing option.
Need your own proof? Test it for the entire month of December. Offer financing with 100% of your sales conversations. We promise we won’t say “I told you so” at the end of the month! Your increased sales closings will be a sweet reward.