Whether you’re using low rates or long terms, a low monthly payment is exactly what a customer wants to see on the project quote’s payment line. More consumers are turning to financing for their home remodeling dreams…and remodeling professionals prepared to offer financing have the advantage in securing more projects.
Monthly payments are key
. Offering financing at the beginning of the sale conversation sets the tone for affordability. Communicating the payment terms upfront helps your customer focus on the smaller monthly payments versus the full-blown project cost. And focusing on a monthly payment helps the customer understand how a slight increase can get them the upgrade they’ve always wanted.
It’s as simple as saying: “For only $10 more per month you can choose a premium product with a lifetime guarantee,” or “An extra $20 per month will give you a larger deck space with a pergola addition.”
Give Shoppers a Reason to Choose You.
Financing gives your customers access to more buying power, allowing them to plan exactly what they want for their home with no compromises. That’s why promoting that you have financing is just as important as promoting your top-quality windows, energy-efficient HVAC units, long lasting roofing material, or flawless installation.
Foundation Finance provides free marketing materials including posters, brochures, window clings and customizable email/social media templates. It couldn’t be any easier to promote financing when the marketing pieces are already created and ready to use.
Offer financing with every sale.
Studies show that offering financing increases sales close rates by 18% and job sizes by 30%–relevant numbers to a business’ bottom line. Some of the most successful contractors attribute the increase in their bottom line to simply offering financing to every customer. In fact, data from a recent Remodeling 550 list shows that nearly 96% of the top contractors on that list offered financing options.
If you want to increase your sales closing rate, financing is a game changer. It gives you the power to offer the remodeling project in terms your customers can embrace. The biggest term being “affordability!”
Foundation Finance provides a variety of competitive promotional options including same-as-cash, deferred payments and free/reduced interest rates. It’s harder for a customer to abandon a project when a financing plan highlights its affordability.