Consumer financing provides affordable, accessible options that not only serve shoppers but also increase sales. It’s crucial that businesses offering financing know how to effectively market flexible payment plans to attract more customers. By partnering with United Consumer Financial Services, a trusted, full-service consumer financing firm, you provide flexible financing that serves your customers every step of the way.
This article provides a full list of ways to market your financing options to attract more customers, sell more products and services, and grow your business.
Highlight Financing Options Up Front
Your salespeople are your greatest marketing asset. They’re often the first point of contact with your customers; these interactions are a primary driver for sales.
Communicating financing options early and often is one of your most effective marketing tools. Regardless of the product or service you sell, consumers want and need payment flexibility. When they know they can make their purchase today and pay off the balance over time with affordable, scheduled monthly payments, they’re much more likely to explore your offerings and commit to their purchase.
Low monthly payments draw shoppers in, increases affordability, and helps boost customer loyalty –– and sales. But that’s only true when your team makes shoppers aware of their consumer financing options.
Train Sales and Support Teams
A compelling and successful sales team doesn’t come together overnight. Sales is a skill, and your team needs the training and resources to effectively market and sell your products. The same is true of communicating affordable financing options.
Offering consumer financing eliminates many potential obstacles to purchase when your team can clearly and confidently communicate options to your consumers. Businesses must prioritize training sales and support teams to ensure those options are front and center to customers, especially at key moments in the sales process.
Educate Clients through Content Marketing
In addition to presenting consumer financing options in person with customers, you can educate shoppers about payment flexibility through content marketing. Content marketing allows you to clearly outline your offerings in a way that shoppers can review to ensure they know exactly what you offer and how financing can help them bring home their big-ticket purchases sooner rather than later. Content marketing allows you to address common concerns surrounding financing, including
- Credit checks
- Interest rates
- Approval times
- Repayment periods
When you partner with United Consumer Financial Services for consumer financing, you gain access to web content templates that you can post directly to your sites and socials. Our resources help clearly and effectively communicate low monthly payment options and link directly to the UCFS credit application, so customers can complete their application themselves from the comfort of their home, or in your retail location, or on the go..
Simplify the Application Process
Many customers are hesitant to utilize consumer financing because they assume the process is a headache. Highlight the simplicity of your consumer financing program to help your customers see that not only does financing increase affordability, but it’s also fast and easy.
When you work with UCFS to provide consumer financing, you serve users with a streamlined application and approval process. Your clients can complete their application from a phone or tablet in just a few minutes. Shortly after submission, the credit decision is received by your business, so you can maintain momentum and proceed with the sale. High approval rates combined with straightforward application make financing accessible –– and less daunting –– to customers who might be intimidated by time-consuming, cumbersome, traditional financing applications.
Build Trust with Transparent Terms
Consumer trust must be earned. The way you present your consumer financing options helps build trust and maintain loyalty, boosting sales now and in the long term. As you market financing options, be upfront about interest rates, fees, repayment terms, etc. Compare monthly payments and the APR to making a purchase on a credit card, and the difference in total payments. Consumer financing with UCS has a lower total cost when all payments are made, than using a credit card making minimum monthly payments. Credit card payments with variable interest rates can last double the number of years of a financed purchase, which has a fixed number of monthly payments and a set APR. Using visuals like comparison charts or repayment timelines can help customers understand exactly what to expect when they use affordable financing and low monthly payment plans.
Emphasize your commitment to responsible lending and a customer-centric approach. Payment options matter: honest, affordable financing is crucial for many shoppers exploring big-ticket purchases. Show them you have their best interests in mind with clear, transparent communication from the first touchpoint to the last.
Keep Financing Top of Mind
Introducing financing options early is key to engaging shoppers from the very first interaction with your team and business. But keeping financing top of mind is what maintains customer confidence and excitement throughout the sales process or consultation.
As customers consider big-ticket purchases, it’s natural for them to second-guess their decision: high-value items and services require significant financial investment and the emotional investment of thinking through affordability. It only takes a moment for a potential customer to feel hesitant and abandon their purchase altogether. But when businesses effectively market their financing options, customers will feel confident in their purchase decision from start to finish.
When selling big-ticket items –– everything from whole-home water filtration systems and hot water heaters to cosmetic medical procedures or jewelry –– businesses must keep financing top of mind for their clients and customers. Consumers need affirmation that they can afford their high-value purchases. By reinforcing the accessibility and affordability of consumer financing, you ensure customers of their purchasing power and bring them through to the sale.
Deliver Effective, Affordable Consumer Financing with UCFS
Financing is a straightforward pathway to increased affordability and more sales. Understanding how to market your financing options helps you engage shoppers and provide them with the payment flexibility they need to follow through with their purchases.
United Consumer Financial Services, a Marmon Holdings Company, which is a division of Berkshire Hathaway, is a trusted leader in consumer lending. UCFS provides marketing resources you need to highlight your financing options and grow your business while better serving your customers. Contact our team to get started today.