Point of sale financing is a powerful tool to have at your disposal during any discussion surrounding budget. Its core benefit? It increases your customer鈥檚 buying power. If your customer has a kitchen reno or appliance on their list of needs, financing gives you the power to propose the renovation or appliance they鈥檝e always dreamt about. The big question is: What is the best way to leverage financing when you鈥檙e proposing a project upgrade?
The big question is: What is the best way to leverage financing when you鈥檙e proposing a project upgrade?
1. Let the low monthly quotes do the talking & present multiple options
When you鈥檙e presenting a quote, lay out multiple financing options. If the options are crystal clear, your customer will understand how a slight monthly increase will result in the upgrade they鈥檝e always wanted.
For example:
A standard kitchen reno will cost $15,500 or $159 per month. However, a reno with significant upgrades will cost $25,500 or just $260 per month.
A simple comparison like this underlines the benefits of a financing in a clear cut way, maximizing the close rate of your sales. And don鈥檛 hesitate to illustrate what a slight increase can afford your customer.聽
Concrete examples are key: $30 more per month will get you a Corian庐 countertop, while $50 more per month will get you granite.
2. Start with a max monthly budget
Establish your customer鈥檚 maximum budget for any given month and then work backwards: lay out project options within those limits. If you start with a monthly budget before revealing the final price, it will reduce sticker shock and emphasize the purchasing power at their fingertips.
Again, it always helps to highlight what a slight uptick can afford them. For example, if their monthly budget is $200 they can afford to spend $20,750 – but a slight bump to $300 per month increases their purchasing power to $31,250.
3. Pair financing with a promo program to close on the spot聽
Financing is a powerful tool on its own, but when it鈥檚 paired with a promotion, like one of Financeit鈥檚 鈥淣o interest & No payments for 3 or 6 months鈥� options, you鈥檒l have the flexibility and the competitive edge to close a project upgrade on the spot.
Remember, all of these solutions are available at the click of a button with Financeit – you can arrange financing and promotional programs from any device, at any time. Financing isn鈥檛 just a payment option, it鈥檚 a simple, effective way to coax a customer off the fence and close bigger sales, faster.聽
Boost your sales by offering your 糖心传媒 financing.
For informational purposes only. All quoted amounts are based on the current applicable Financeit interest rates, over the term and amortization period selected by the Dealer. Subject to credit approval.
The information, views, materials and opinions contained in this article are for general informational purposes only, are not intended to constitute commercial, legal or other professional advice, and should not be relied on or treated as a substitute for specific advice relevant to particular circumstances.
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