In every retail or service market, the customer is the driving force behind your success. Retailers, service provider, and distributors must empower their clients with affordable, accessible sales financing payment options. Customer financing increases purchasing power, helping you secure the sale today and pave the way for long-term customer relationships.
This article examines how to use financing to help close the sale, no matter what you’re selling. Learn how a consumer financing partnership can help you increase your business’s health, cash flow, customer satisfaction, and revenue.
Understanding the Power of Consumer Financing
Consumer financing allows your customers to buy the items or services they want –– when they want them –– without the stress of disrupting budgets or moving money around accounts to pay for their purchases.
In the context of securing a sale, consumer financing is critical. An approachable, simple financing solution can be the ticket to closing the deal, especially when a shopper is on the fence about their purchase.
Financing companies can help your big-ticket sales be more simple, affordable, and less stressful. When you present retail finance options or patient payment financing throughout the sales conversation, shoppers know they have choices in how to pay. Even if they have less-than-desirable credit or don’t want to touch their savings accounts, they can still choose the goods or services they want without postponing the purchase to save up for it.
Consumer financing offers the following benefits to the user:
- Increased affordability
- Greater confidence in considering purchase options
- More purchasing power for upgrades or complementary purchases
- Less stress in significant purchase decisions
All the while, the seller wins, too. Financing helps you increase your average order value, sell a higher volume of products, and close the sale, which increases the likelihood of future purchases from that individual.
Consumer financing is a powerful tool. And when you partner with the right financing firm, you enjoy the myriad benefits of providing payment options to your shoppers. Now, let’s explore how to harness this power to help close the sale.
Highlight the Benefits of Financing
Consumer financing is more than just one way to pay; for many of your customers, it’s the best way to pay. Highlight the benefits of financing to show consumers that they can have the items or services they want today because of your implemented financing program.
Financing is a dream come true for buyers who want autonomy in purchase but don’t have access to traditional loan options. As you explain how financing works to potential customers or clients, bring the following to their attention:
- Consumer financing allows shoppers to bring home their purchases today
- Consumer financing provides patient medical financing for dental or medical care to be scheduled right away
- Consumer financing allows shoppers to say yes to their needed service immediately
- Customers with less-than-ideal credit could be approved for consumer financing options
- Purchase is accessible even without an upfront lump sum payment
- Buyers can upgrade or add on to their purchase to increase their cart value without drastically increasing their monthly payments
- Auto-pay options mean they can “set and forget” their loan repayment, eliminating the risk of late or forgotten payment
Financing makes every aspect of purchase easier. Shoppers want simplicity and affordability, and financing makes both possible.
Make Financing Standard
Consumer financing can feel like an abstract concept to many shoppers. Educate your sales teams on how to make financing part of the conversation from the outset.
Introduce consumer financing options early, then come back to them often. Help your clients see that financing can and should be standard for their purchases, then explain the benefits listed above.
Present financing as a helpful tool that enhances every purchase experience. Show customers that financing is for everyone, including them. How can smaller, affordable monthly installments make their lives easier –– and better? Tell them, show them, and then close the sale with financing choices that serve them.
Highlight the Convenience of Customer Financing Platforms
Shoppers value convenience now more than ever. Customer-centric online financing platforms streamline purchase and repayment, making the sales and buying process easier and more convenient for your customers.
For starters, online application is fast and straightforward. When you search for financing companies, you’ll want to partner with UCFS, because customers can apply and receive a notice of approval within minutes. That means shoppers don’t have to wait days or weeks to proceed; they can purchase the item or service that day.
Once the transaction is complete, repayment is simple and convenient. UCFS’s online portal allows customers easy access to their account information, including repayment schedules and customer support. Auto-pay options mean shoppers don’t have to think about repayment; our system “remembers” for them.
Make purchases and payments simple for your clients. Highlight the convenience of online financing and show customers just how easy shopping with you can be.
Resonate with Customers and Overcome Objections
Big-ticket purchases can be intimidating and overwhelming. Significant purchases are stressful and often out of reach for shoppers without wiggle room in their budgets, access to lines of credit, or a lump sum of cash.
As you walk clients through the sale, remind them that the ability to offer financing to your clients provides solutions to these worries. Offering low monthly payments allows you to address significant financial pain points that create roadblocks for otherwise eager shoppers.
Address their fears and objections. Be the first to bring up payment options. Show them that you can and will help them through purchase with financing built to meet their needs.
Providing Financing Options that Work
Financing increases profitability and sales for the business, and the customer enjoys less stress and greater purchasing power. Consumer financing can transform your sales and the customer experience if you choose a provider that knows and meets your needs.
As you consider financing for customers, partner with a firm that delivers financing that works for you and your shoppers.
With more than 40 years of serving businesses and their clients, United Consumer Financial Services anticipates your needs and provides solutions that work, including:
- Simple application
- Fast notice of credit approval decision
- Flexible payment terms
- Phone and email customer support
- Easy auto-pay options
- Customer portal access and clear account information
When you partner with UCFS, you and your customers know exactly what to expect: complete transparency and a desire to provide financing solutions that work for all parties. When financing for your customers is accessible and straightforward, shoppers are more likely to take advantage of it, which helps your sales team do what they do best: sell.
Contact us today to learn how simple, accessible financing helps you close the sale and increase revenue