Should You Offer Payment Solutions?
A Quick Guide to Supporting Stronger Equipment and Technology Sales
With Financing
You know that the needs of your customers are constantly evolving. But the key to building strong relationships and powering long-term business growth is developing a sales strategy that can keep up with the market and put equipment and technology back in the budget for customers. And for many dealers and vendors, that strategy starts with offering customizable financing.
Nine Reasons to Offer Payment Solutions to Your Customers
Financing is more than just a way to pay – it’s key to closing faster and selling more. Here’s some insight into why equipment and technology dealers and vendors should take a proactive approach to offering payment solutions to their customers.
You Will Close More Sales
Reduce “Sticker Shock”
You Can Offer One-Stop Shopping
Control the Sale
Increase Average Transaction Size
Flexibility
Provides Long-Term Customer Relationships
Equipment Refresh
Everything Can Be Financed
Financing can help maintain long-term relationships with customers and provide you with future additional sales opportunities. Offering financing will increase your closing rate.
Presenting a monthly payment option helps take the focus away from the total price and puts it on the solution's features and benefits, making it less likely your customer will price shop. Even customers who are used to making big purchases will feel a big number when they see it. It’s subconscious, but why do you suppose sellers price items at $39.99 rather than $40?
Why make it any more difficult for a customer to acquire the equipment they need? You’ll be providing an additional value-added service, similar to offering shipping and handling, which makes it easier for your customers to buy.
Offering financing also helps you control the sales by providing customers with everything they’ll need to make the acquisition of their equipment solutions. Customers won’t need to speak with anyone who might not have their best interests at heart. You and your team – including your dedicated LEAF Account Champion – can handle everything.
It’s way easier for customers to agree to pay a few more dollars per month rather than thousands in the total price. This allows you to provide your customers with what they really need rather than just what they can currently afford on a cash basis. Of course, this also results in higher profits for you.
Financing terms can be structured to be highly flexible to match specific cash flow requirements that your customers might have.
Financing can help to maintain long-term relationships with customers and provides you with additional sales opportunities in the future. For example, we let you know when an existing customer’s agreement is coming to an end, which is a perfect time for you to reach out to update and/or upgrade the customer’s equipment.
Easy, affordable payment options help lock customers into profitable refresh cycles and multi-year agreements.
Customers can finance their entire equipment solution on one contract, including shipping and handling, installation charges, pre-paid maintenance and service fees, and even sales tax. The customer won’t need to write any additional checks, making it easier for them to say yes to your proposal.
According to research, almost 80% of American companies finance some or all of their equipment. And about two out of three of all equipment sales in this country are financed.
What Do Your Customers Need to Move Forward on Their Equipment and Technology Plans?
Let’s talk over some options to keep those sales from getting away. Fill out the form to schedule a meeting with a dedicated Account Champion and start getting the latest insights and sales strategies delivered right to your inbox.
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Terms and Conditions: All applications are subject to credit approval. LEAF finances equipment only for business purposes and not for personal, family, or household use.