Having a consumer finance program is no longer a choice, but a necessity!
1. Your competition offers it
Most businesses are beginning to implement consumer finance. If your competition is offering flexible payment arrangements, that means you are losing clients to them. In business you must stay competitive and seek out financing companies like Financing Your Way, who work with multiple lenders. They can help you to provide more diverse options for consumer finance so you will always be more flexible than your competition. In addition, Financing Your Way offers support and sales training so your staff can quickly learn how to offer consumer finance, retain clients and convert leads.
2. Your clients want it
We live in a day and age where consumers are more conscious about what they spend on and how much they spend throughout the month. As much as they may want your product, if it breaks their monthly budget, they may consider waiting or not purchasing at all. By offering consumer finance you give your customer the option to work your product into their budget. If your current clients are consistently requesting discounts or they complain about your pricing, your clients’ need flexible options. Consumer financing should always be your answer to these requests.
3. You sell high ticketed items
If you are selling high end or luxury products, and you know that your items are on the more expensive side, then it is critical that you offer consumer finance. Financing companies like Financing Your Way will help your match your client with the right lender so that they can be approved and enjoy your product today while paying over time. Your customers want to buy, so give them a reason to!
4. You sell add-on products
If you sell multiple products you always have the opportunity to upsell. Just as local fast food restaurant offers complementing items including side dishes and a beverage, you should attempt boost your sales numbers by offering items that complement your products. Train your employees to spot the opportunity for upsell and offer financing for the add-on items when these items are purchased with higher priced items.
5. You want more revenue
Increasing revenue is the best reason for offering consumer financing. As a retailer, you buy products so that you can sell them, but not if people can’t afford them. If your products are just sitting on the shelf your business cannot push success. It’s time to become flexible in your techniques and to try new ways to sell your products. Consumer financing is a modern strategy that can help your business increase revenue.