Offering your customers financing is one way to increase ticket sizes and drive more sales. Successful equipment sellers offer financing because they know increasing their customers’ buying power is a simple and effective way to boost sales.
Today’s market is saturated with options for financing partners, but not all financing companies are created equal. The best news is that while the customer will have more time to pay off their purchase, the seller gets paid in full with no additional cost to offering financing.
What does this mean for me?
When your customers finance purchases, there is no recourse to you as a partner. You do not have to worry about billing or collecting payments, and if the customer defaults on their loan, there is no impact on you or your business. There is also no cost to offering or promoting financing options to your customers.
What does this mean for my customers?
Customers generally think about how they will pay for equipment purchases while they are still shopping. When they know they have the flexibility to pay over time, they are more likely to add to their purchase. This increases your average ticket sizes and wins you sales you may have otherwise missed. Offering payment options may also encourage them to become repeat customers.
How do I get customers to take advantage of offered financing?
For customers to spend more, they have to know they have more. This means they must be aware of financing options while they’re doing their shopping. As a seller, you must let your customers know that low monthly payments are available.
Direct Capital makes it easy for partners to promote their financing through custom online portals. Here, customers can apply online and get approved often in seconds. With the support of a dedicated marketing team, we offer everything from web graphics and printed collateral to written content. This helps partners drive customer awareness and engagement of the financing options available.
To find out more about how you can start reaping the benefits of offering financing, give us a call at 603-501-1030 or email firstname.lastname@example.org