AshleighKennedy|How canweimproveoursales |Attractnewclients
Presentation-2023
Businesses gain from providing straightforward financing options to their clients. Financing enables businessestogetlargercontracts, close more transactions, and improve the average transaction size. By giving your consumers a flexible and simple option to pay for major purchases, financing helps your business draw new clients and increase recurring business, according to Ashleigh Kennedy.
Whataretheadvantagesof financing?
Vision
Because financing provides customers with greater purchasing power and flexibility and helps businesses increase sales and improve cash flow, both consumers and businesses gain from lending programs.
The top five advantages of borrowing money are as follows:
Improvesales
By allowing clients to make monthly loan payments that fit their financial limits, financing can help your firm close more sales. The main obstacle to closing a transaction is the high purchase price, which may be removed by bringing up financing possibilities at the outset of your sales interactions. Customers love financing because it increases their purchasing power and enables them to obtain the precise items they need without having to pay the whole cost upfront. According to Ashleigh Kennedy, businesses saw a 32 percent boost in sales when they started providing point-of-sale financing options to customers.
Boostthetypicalordervalue
Your financing program may be a powerful tool for upselling consumers, which will help you increase the average order value for your company. Simply demonstrate to consumers how a small increase in their monthly loan payments may enable them to receive the enhancements they desire to help you raise transaction volumes. According to Ashleigh Kennedy, if you ' re giving a customer a quotation for a kitchen makeover, you may mention that they can upgrade from a marble countertop to soapstone for $20 extra per month.
Expandyourfinancialflow Byworkingwithathird-partylenderlikeFinanceit,you mayimprovethecashflowofyourcompany.You'll getyourcustomer'swholepurchasemoneyinyour bankaccountafewbusinessdaysafterFinanceit confirmstheirloan,accordingtoAshleighKennedy.
Thatnotonlykeepsyourcompany'scashflow strong,butitalsomakessureyourorganization doesn'ttakeonanyfinancing-relatedrisk.While wehandleyourcustomer'srecurringpayments, youcanunwindknowingthatyou'llalwaysbe paid.Youwon'tbeheldliableforthefundseven ifyourclientskipspaymentsordefaultsonthe loan.
Attractnewclients
By making their goods and services more accessible to customers through financing options, businesses expand the pool of possible clients. Not everyone has the money on hand to pay for a significant purchase up front, like furnishings or house improvements. Financing reduces expensive goods into reasonable installmentsthatmoreindividualsmay afford, expanding the pool of prospective clients available to your company.
Gainclientloyalty Yourfinancingplanmayenticeclientstomakefurtherpurchasesfromyouinthefuture, strengtheningyourbrandandboostingsales.Customersaremorelikelytopatronizeyour companyagainthenexttimetheyneedtofinanceamajorpurchaseiftheyareawarethatyou offertofinanceandunderstandhowitmayhelpthem,ratherthangoingtorivalswhomightnot havethesamefinancingchoices,accordingtoAshleighKennedy.
Thank You
