There are many benefits to offering consumer financing, for both you and your customers. You’ll love the increased revenue, avoiding discounting your products and services, and getting a leg up on the competition. Your customers, in turn, will love having the ability to buy what they need when they need it, without putting a lot of money down. They’ll also enjoy increased purchasing power and low monthly payments.
The latter benefit, in particular, is something you should go out of your way to highlight. Most people have bills to pay, and don’t like the idea of adding a substantial payment to their monthly financial plan. It’s something that can give anyone pause before purchasing a product or service through financing. Emphasizing low monthly payments is a good move for your business, and there are a number of ways you can do it. Here are a few ideas to get you started.
Signs are one of the classic advertising methods, and for good reason. When someone sees an eye-catching sign on the wall, they tend to read it and absorb the information quickly. Put signs around your business, in waiting areas, in showrooms, and any place that customers are likely to spend a significant amount of time. These signs should highlight your consumer finance options, and specifically call out the low monthly payments your customers are sure to appreciate.
Similarly, pamphlets are a great way to communicate the benefits of your consumer financing program. You should include a section in your financing pamphlet that calls out low monthly payments and outlines the benefits for your customers. Many customers will of course already understand why they want to have low monthly payments, but seeing the reasons why on paper will help reinforce that thinking.
Email newsletters and other forms of email communication are a great way to let your customers know that you offer consumer financing options with low monthly payments. Including these details upfront can help your email stand out in crowded inboxes.
Your staff interacts with customers on a daily basis and they are ideally positioned to tell them all about your consumer finance program. Ask your team members to specifically highlight low monthly payments as a benefit, and take note of the effect this effort has on your finance program’s performance.
Set Your Customers’ Minds at Ease
For many customers, choosing financing can feel a bit like going out on a limb. Knowing that they will have low monthly payments, however, can be reassuring, because it means they won’t have to worry about the payment for the product or service they financed interfering with their normal day-to-day finances. By highlighting this key benefit, you’ll make your consumer financing program that much more appealing, and lay the foundation for increased revenue and stronger customer relationships.