How to Maximize Your Consumer Financing Program for Better
Most small businesses neglect to utilize a great sales strategy. Consumer financing options are perfect for businesses that sell pricey items and want to make customers more at ease about making the purchase. Instead of getting all the money at once, payments will be spread out over the course of several months. This can be beneficial to both your store and the customer, so it is worth looking into.
Even if you offer a payment plan, no one is going to use it if they are unaware it even exists. You need to advertise in as many places as you can. Put up signs around the store making it clear that consumer financing is available. You can also advertise on your company’s website, so people browsing through your online store are aware it is an option.
Train Your Staff
Customers are not going to ask if you have payment plans available when checking something out. It is up to your staff to bring it up and tell consumers about all the benefits. Therefore, it is prudent to spend some time training your team on how to bring it up and what they should mention. You should also familiarize your team with common questions that are brought up concerning payment plans so that everyone in your company is an expert.
Emphasize the Monthly Payments
On the sticker prices around your store, you want to emphasize what the monthly payment is going to be instead of the grand total. Many customers do not have thousands of dollars in order to pay for an expensive piece of furniture or appliance. However, they can manage a hundred dollars a month or so. If a customer knows exactly what to budget each month, then the purchase suddenly becomes more realistic and feasible.
Make Signing Up Easy
A big reason why customers avoid going through a payment plan is because they assume signing up is going to be too much of a hassle. You want to assuage those fears and make it clear that it will not take long for a consumer to sign up. This can be accomplished by streamlining the application and only asking for essential information. Digital tools are also available for you to acquire to help with the process.
Big ticket items are always tough to sell. If you are not presently using consumer financing, then you should seriously consider it. Payment plans are great for increasing revenue and improving your client base. Contact Artemis Commercial Capital at 540-736-3026 for more help setting up consumer financing for your business.