We’ve heard from several home improvement contractors (many posting their woes on Twitter), who are spending a LOT of time writing project quotes but getting a low percentage of commitments in return. It’s frustrating to spend so much time upfront trying to capture the sale and, in the end, losing it.
Is there a more surefire way to capture the sale? Of course there is!
Project quotes generally include a detailed breakdown of the expected materials, specs and costs associated with the proposed project. At the bottom of the quote is the full cost. Your prospect most likely is focusing on the number at the bottom of the quote, behind the words: Project Cost.
Financing is your surefire way to capture the sale!
How much will it cost? Every contractor or salesperson knows that’s the question on every customer’s mind. Financing immediately addresses any sticker shock and allows you to shift focus away from the big number on the bottom of a quote sheet to the value and comfort the improvement will add to their home.
When you include a financing option with the quote, it increases the affordability factor of the project. A $5,000 price tag can translate to $100/month or no payment for 6 months! That wow factor will give you call backs on quotes and book projects for your business.
Offering financing will help your business:
- Increase sales and project sizes.
Financing increases a customer’s purchasing power. Not only will it be easier to close a sale, it’ll be easier to close a bigger sale. Show customers how a small increase in a monthly loan payment (from $100 to $120) gives them the freedom to afford the dream upgrade.
- Be more competitive.
Foundation Finance provides fee-free competitive rates that make financing options very attractive—and make dream projects very affordable. Exclusive promotions such as half payments for a year or no interest for 6 months also make your business stand out from the crowd.
- Use your sales pipeline.
Thinking about the prospects who didn’t respond to your past project quotes? Follow up with a financing option! (Read: Pack Your Pipeline with Sales)
Don’t be the contractor tweeting about lost sales. Be the contractor closing more sales with the simple addition of a financing plan. If you’re not part of our financing program it’s easy and free to join. Plus, you’ll get all the tools you need to start promoting it including free training, free marketing and free expert support at every step.