BUSINESS
WHY EVERY HOMEOWNER IS A CANDIDATE FOR PAYMENT OPTIONS
Planning to Pay for a Project With Cash
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W
hether you’re new to offering payment options to homeowners or are just trying to get better at it, you may be wondering which of your customers may be ideal candidates for payment options. The simple answer is more than you think. Research has shown that one of the most effective methods for offering payment options is to offer them to every single customer. By doing so, you can see an increase in leads, close rate and average project size. Never speculate whether a customer wants or needs a loan. You might be wrong, and that means you may end up leaving money on the table or even losing out on a landscaping project altogether. There are all kinds of customers who prefer a payment option, including those who are:
Whether you’re new to offering payment options to homeowners or are just trying to get better at it, you may be wondering which of your customers may be ideal candidates for payment options. The simple answer is more than you think.
that have to do with the project or if a non-related emergency happens and they need access to the funds.
Many homeowners have the cash on hand to complete a landscaping project and may think they don’t need financing. However, offering a choice of loans to cash-paying customers gives them a cushion in the event of unexpected or higher costs during a project. It’s been estimated that homeowners will spend an average of 44% more on a project when offered payment options.
Looking for Monthly Payment Options
Wanting to Keep Cash on Hand Longer
Not Sure How to Pay for a Project
Using financing can help a homeowner keep their cash on hand longer for other needs, allowing them to use the bank’s money for their landscaping project instead. This gives them more flexibility for additional costs
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With fixed monthly payments and a low-interest rate, this may give the homeowner the flexibility to decide and move forward on the project. Many homeowners value the convenience of a simple payment plan that gets them the landscaping project they want before the seasons change.
Research has shown that 35% of homeowners haven’t thought of how they’re going to pay for a project until after hearing a bid. By offering payment options in your initial pitch, you’ve already addressed one of, if not the most
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important, concerns that a homeowner may have throughout the process. Here are some good ways to offer financing without appearing pushy or driving the sale away? • Include in your marketing materials • When you first set the appointment • During the first in-home pitch • During follow-up conversations If the customer doesn’t commit right away, you may still have a chance to land the job. If a homeowner calls with additional questions, remember to bring up payment options. Another great way to keep in touch is by email. If you nurture the customer the correct way from the beginning, you’ll see more success in closing more deals and getting to work.
Joel Cannon Senior VP EnerBank USA
www.greenindustrypros.com
2/21/22 10:08 AM
